John Hancock Financial Services of Boston is shaking up the management of its Variable Series Trust I group of variable annuities and life products. It has hired three new sub-advisers, fired another and is planning to make several other sub-adviser changes, according to recent proxy statements filed with the SEC.

The proxy statements outline a switch to a multi-management strategy for some annuity sub-accounts and the replacement of some sub-advisers as a result of poor performance.

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