Changes allow Sun Life to further capitalize on significant market
TORONTO, Nov. 1 /CNW/ - Sun Life Financial Inc. (TSX/NYSE: SLF) today
announced changes to its executive team effective January 1, 2008 to enable
the company to further accelerate its international growth in the expanding
wealth and retirement markets.
Kevin Dougherty, currently President, Sun Life Financial Canada, will
become the President of Sun Life Global Investments. Dougherty's mandate is to
further leverage the Company's premier asset management businesses across the
organization. Sun Life Global Investments will focus on building a more
cohesive asset management platform to accelerate Sun Life's growth in the
global wealth market. Dougherty brings to this new role broad knowledge of the
wealth business, including his previous experience as head of Group Retirement
Services, and ongoing partnerships with CI Investments and McLean Budden in
Dean Connor, currently Executive Vice-President, succeeds Dougherty as
President, Sun Life Financial Canada. Connor has extensive industry and senior
management experience from a long career at Mercer, the multinational
consulting firm. His areas of practice focused on retirement, health and
benefits and investment and he became head of the firm's Canadian and then
U.S. operations. Immediately prior to joining Sun Life he had the larger role
of President for the Americas including Canada, the U.S. and Latin America.
Robert Salipante, President, Sun Life Financial U.S., will add to his
current role by assuming leadership of a newly created International Variable
Annuity Center. Leveraging the existing successful U.S. Variable Annuity
operation, this Center will support the growth of variable annuity solutions
across the entire organization as international demand for variable annuity
solutions is expanding worldwide.
Tom Bogart, Executive Vice-President and General Counsel, is assuming
additional accountabilities to assist the Chief Executive Officer (CEO) with
strategic and governance responsibilities. Bogart will also assume the role of
Chairman of subsidiary companies Sun Life Insurance (Canada) Limited and Sun
Life Assurance Company of Canada (U.S.).
"We have premier businesses, and these changes will enable us to take our
efforts to the next level and better respond to the needs of the marketplace
by leveraging the strengths of our leaders and our businesses," said Donald A.
Stewart, Chief Executive Officer, Sun Life Financial.
Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth accumulation
products and services to individuals and corporate customers. Chartered in
1865, Sun Life Financial and its partners today have operations in key markets
worldwide, including Canada, the United States, the United Kingdom, Ireland,
Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of
September 30, 2007, the Sun Life Financial group of companies had total assets
under management of CDN$427 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under ticker symbol SLF.
Certain statements contained in this document, including those relating
to the Company's strategies and other statements that are predictive in
nature, that depend upon or refer to future events or conditions, or that
include words such as "expects", "anticipates", "intends", "plans",
"believes", "estimates" or similar expressions, are forward-looking statements
within the meaning of securities laws. Forward-looking statements include the
information concerning possible or assumed future results of operations of the
Company. These statements represent the Company's expectations, estimates and
projections regarding future events and are not historical facts.
Forward-looking statements are not guarantees of future performance and
involve certain risks and uncertainties that are difficult to predict. Future
results and stockholder value may differ materially from those expressed in
these forward-looking statements due to, among other factors, the matters set
out under "Risk Factors" in the Company's AIF and the factors detailed in its
other filings with Canadian and U.S. securities regulators, including its
annual MD&A, and annual and interim financial statements, which are available
for review at www.sedar.com and www.sec.gov.
Factors that could cause actual results to differ materially from
expectations include, but are not limited to, the performance of equity
markets; interest rate fluctuations; currency exchange rate fluctuations;
changes in legislation and regulations including tax laws; regulatory
investigations and proceedings and private legal proceedings and class actions
relating to practices in the mutual fund, insurance, annuity and financial
product distribution industries; risks relating to product design and pricing;
investment losses and defaults; the occurrence of natural or man-made
disasters, pandemic diseases and acts of terrorism; risks relating to
operations in Asia, including risks relating to joint ventures; failure of
computer systems and Internet enabled technology; breaches of computer
security and privacy; the availability, cost and effectiveness of reinsurance;
the inability to maintain strong distribution channels and risks relating to
market conduct by intermediaries and agents; dependence on third-party
relationships including outsourcing arrangements; the impact of competition;
downgrades in financial strength or credit ratings; the ability to
successfully complete and integrate acquisitions; the ability to attract and
retain employees; and the performance of the Company's investments and
investment portfolios managed for clients such as segregated and mutual funds.
The Company does not undertake any obligation to update or revise these
forward-looking statements to reflect events or circumstances after the date
of this report or to reflect the occurrence of unanticipated events, except as
required by law.
For further information:
For further information: Media Relations, Susan Jantzi, Senior Manager,
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Investor Relations: Paul Petrelli, Vice-President, Investor Relations, Tel:
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