Mark Steven O’Dell is the Group Chief Executive Officer (CEO) of Manulife Holdings Berhad (MHB) and CEO of Manulife Insurance Berhad (MIB) in Malaysia. Originally from New York, he was appointed to the Board of Manulife on January 18, 2013, and also serves on the board of Manulife Asset Management Services Berhad.
Extensive Experience in the Life Insurance Sector
With over 38 years of experience in the life insurance industry, O’Dell has held CEO roles for 23 years across various Asian markets, including Singapore, Indonesia, Malaysia, and Taiwan. He played a key role in establishing Manulife Asset Management Taiwan and acquiring MAAKL Asset Management in Malaysia. His expertise spans agency development, bancassurance, partnership distribution, wealth management, and branch expansion.
Contributions to the ASEAN Insurance Industry
O’Dell has made significant contributions to the life insurance sector in the ASEAN region. In Singapore, he served as President of the Life Insurance Association and the Financial Planning Association of Singapore. Recognizing his impact, the Asia Insurance Review named him Personality of the Year in 2006 for his leadership in corporate social responsibility and his contributions to the industry.
Driving Growth in a Competitive Market
Leading Manulife Insurance Berhad in Malaysia’s highly competitive market—with 14 major life insurance players and over 30 competitors in the unit trust sector—requires strong vision and leadership. Under O’Dell’s management, MIB has more than doubled its life insurance business volume in the past five years, exceeding industry growth rates. Additionally, since acquiring MAAKL Unit Trusts in 2013, the company’s gross investment has tripled, reaching a fund flow of over RM1.5 billion as of 2017.
A Holistic Approach to Financial Services
O’Dell identifies Manulife’s unique market advantage as being the only provider in Malaysia offering unit trusts, private retirement schemes (PRS), and insurance under one management. To maximize this opportunity, he emphasizes the need for financial advisers who offer holistic financial solutions rather than just selling insurance. His philosophy centers on helping clients achieve financial independence, protecting loved ones, and securing a better future through education and risk management.
Investing in Leadership and Talent Development
Believing that the success of a company lies in its people, O’Dell introduced the ‘Leadership as a Profession’ development program to cultivate future leaders in areas such as leadership, collaboration, technical expertise, coaching, and performance management.
Commitment to Corporate Social Responsibility
Under O’Dell’s leadership, Manulife Insurance Berhad has also become a leader in corporate social responsibility (CSR). The company was named Company of the Year 2018 (Financial Services Category) by CSR Malaysia for its pioneering efforts in community health and child welfare initiatives. Employees actively participate in CSR projects, raising funds for orphanages and critically ill patients, building libraries for Orang Asli villages, and fulfilling the wishes of underprivileged children.
A Journey of Resilience and Determination
O’Dell’s path to success was shaped by humble beginnings. Despite excelling in academics and athletics, financial constraints prevented him from completing a college education. Determined to prove himself, he began his career as an insurance agent 38 years ago. His time in the field allowed him to develop a deep understanding of customer needs and an appreciation for every level of the business.
A Leadership Style Rooted in Experience
Having worked his way up from the bottom, O’Dell embraces a hands-on, approachable, and supportive leadership style infused with humility. His experiences as an agent and field manager for 12 years have given him a unique perspective that continues to shape his leadership approach. “Everything I learned in business was from experience,” he reflects, attributing his success to real-world learning rather than formal education.
Through vision, strategic expansion, and a deep commitment to corporate social responsibility, Mark Steven O’Dell continues to drive Manulife’s success in Malaysia and beyond.
