TORONTO, Sept. 29 /CNW/ - Sun Life Financial Inc. (TSX/NYSE: SLF) today
announced three additions and other movements in its executive management
team. These appointments will further enhance Sun Life's U.S. management
expertise in the world's largest financial services market while leveraging
leadership strength to accelerate international growth.
Effective October 14, 2008, Jon A. Boscia, 56, will join as President,
Sun Life Financial and be based in Wellesley Hills, Massachusetts. He will be
responsible for Sun Life's overall U.S. business, apart from Massachusetts
Financial Services Company, and oversee worldwide marketing. Donald A.
Stewart, Chief Executive Officer, Sun Life Financial said, "Jon has a stellar
reputation and is widely recognized as one of the top industry leaders in the
overall retirement, insurance and investment management businesses; and has
also led a successful public company. We are delighted he has chosen to join
Mr. Boscia has enjoyed a distinguished career with significant experience
in strategic leadership, financial management, distribution and marketing. He
retired from Lincoln Financial Group in August 2007 where he served as its
Chief Executive Officer for 10 years. During his tenure, Mr. Boscia developed
Lincoln into a company widely regarded as having one of the best business
franchises in the industry with a strong distribution system and highly
competitive products. He was responsible for the integration of multiple
acquisitions and produced outstanding organic growth. Mr. Boscia said, "Sun
Life is known for its excellence in products, innovation and leadership. These
advantages, coupled with an opportunity to join Don and his international
leadership team, made this a very easy decision for me. I'm excited by this
Joining Mr. Boscia's team effective October 27, 2008 will be Westley V.
Thompson, 53, as President, SLF U.S. and Terrence J. Mullen, 43, as President,
Sun Life Financial Distributors, Inc. Mr. Thompson will be responsible for the
SLF U.S. business lines while Mr. Mullen will oversee distribution, including
the distribution aspects of Sun Life's Employee Benefits Group, life and
annuities products and services. Both Mr. Thompson and Mr. Mullen join Sun
Life from Lincoln Financial Group.
Mr. Thompson said, "I'm thrilled to be joining Sun Life, a company that
responds to the needs of the marketplace by leveraging the strengths of its
businesses and the expertise of its people." Mr. Mullen added, "Sun Life has
excellent brand equity among leading distributors and I see my role to expand
and enhance our service offerings to our various customer groups and key
Robert Salipante, 52, has been appointed President, SLF International and
will work out of Sun Life's Corporate Office in Toronto. He will assume
enterprise-wide responsibilities, including information technology, shared
business services, SLF U.K., Reinsurance and other international strategic
initiatives. He will continue to lead Sun Life's Bermuda operations,
International Variable Annuity Center, Group Business International, and
International Distribution. Mr. Stewart added, "Bob has made significant
contributions to our business in the U.S. and our company will now benefit
internationally from his expertise." He added, "The periodic rotation of our
business leaders is one of the cornerstones of our international strategy."
In his five-year tenure as President, SLF U.S., Mr. Salipante led Sun
Life's U.S. business to a number of key accomplishments, including securing
core carrier relationships for the Individual business with pre-eminent
distributors such as the M Financial Group and National Financial Partners.
Mr. Salipante also drove innovation in Sun Life's annuities business with the
launch of industry-first products including Income ON Demand(TM), and doubled
the size of Sun Life's Employee Benefits Group through the successful
acquisition and integration of Genworth's group benefits business. Mr.
Salipante added, "I'm excited by this broader mandate given Sun Life's mission
and international potential."
Mr. Salipante will work with the new team in Wellesley Hills to ensure a
seamless transition that will allow Sun Life to maintain customer focus and
About 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
June 30, 2008, the Sun Life Financial group of companies had total assets
under management of CDN$413 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under ticker symbol SLF.
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