John Litzow, currently head of John Hancock Funds' Private Client Group, is also taking leadership of the firm's institutional business.

John Hancock spokesman Brian Carmichael did not immediately return a calling seeking comment on the prior head of the firm's institutional business.

The firm said the hire was part of an effort to grow the institutional business.

"We have a number of strong active investment strategies both on the equity and fixed income side that provide the type of consistent, disciplined investing attractive to clients in the institutional investment management marketplace," stated Litzow in a release. 

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