Tom Murphy Appointed President of Sun Life Asset Management to Drive Growth

Sun Life Announces New Leadership

Sun Life, a prominent global provider of financial services, has made a significant announcement today regarding the future of its asset management operations. As part of its strategy to enhance growth, Tom Murphy has been appointed as the President of Sun Life Asset Management, effective immediately.

This strategic move is not merely a change in personnel; it is a reflection of Sun Life's ambitions to unify its asset management business under a more cohesive structure. The company's primary goal is to accelerate growth within its global asset management sector. Kevin Strain, President and CEO of Sun Life, commented, "Sun Life is a leading global asset manager, and the new role along with the associated structure will consolidate our entire asset management business under one roof."

Unifying Operations for Enhanced Growth

Under Murphy's leadership, Sun Life Asset Management aims to build new capabilities that better leverage synergies between its asset management and insurance businesses. This restructuring is expected to facilitate the seamless integration of services and create more growth opportunities.

The comprehensive asset management pillar will encompass various entities, including longstanding partners such as MFS, which offers a range of equity and fixed income solutions, and SLC Management, a global alternative asset manager. This move will also include Sun Life's stake in Aditya Birla Sun Life Asset Management, one of India's largest asset management firms, along with its pension risk transfer business.

In 2024, these segments collectively generated over CAD 1.4 billion in revenues, highlighting the scale and importance of this reorganization. Strain further elaborated, "With a managed total of CAD 1.54 trillion, Sun Life ranks among the largest asset managers and insurance companies globally."

Murphy's Vision for the Future

Tom Murphy brings over 25 years of experience in global asset management to his new role. Before his appointment, he served as the President of SLC Fixed Income, where he focused on driving performance in the fixed income sector. Murphy also held a key position at Mercer for two decades, successfully leading their investment management businesses in Europe.

As he steps into this leadership role, Murphy emphasized the impressive breadth and depth of Sun Life's asset management capabilities. He stated, "Sun Life boasts a remarkable array of public and private asset classes, including equities, fixed income, real estate, infrastructure, and private credit. We intend to tap into further growth opportunities between our asset management, insurance, and wealth businesses."

The strategy includes accelerating the distribution of asset management solutions via Sun Life’s proprietary wealth channels, forming new strategic partnerships, optimizing global balance sheets, and exploring new sources of permanent capital.

Conclusion

Murphy's leadership marks a pivotal shift for Sun Life as it endeavors to create a well-integrated asset management ecosystem that not only drives growth but also better serves its clientele. Starting January 1, 2026, the financial outcomes of Sun Life's asset management will be aligned with this new structure, further underscoring the company’s commitment to enhancing its asset management capabilities.

As Tom Murphy transitions into this vital role, he will continue to serve as Chief Risk Officer until a successor is appointed, ensuring continuity and a smooth transition for the organization. With its expansive reach across various markets, including Canada, the US, UK, and India, Sun Life is well-positioned to leverage this leadership change to propel its asset management initiatives forward.