Company brings all asset management businesses together under one pillar
Sun Life today announced the appointment of Tom Murphy as President, Sun Life Asset Management as it continues to accelerate growth across its global asset management businesses.
“Sun Life is a leading global asset manager, and this new role and structure will bring all of Sun Life’s asset management businesses together under one pillar. Sun Life Asset Management will also build new capabilities to better drive synergies between our asset management and insurance businesses,” said Kevin Strain, President & CEO, Sun Life.
In addition to MFS, a global provider of equity and fixed income solutions, and SLC Management, a global provider of alternative assets and fixed income, Sun Life Asset Management will include Sun Life’s stake in Aditya Birla Sun Life Asset Management, one of the largest asset management businesses in India, as well as Sun Life’s pension risk transfer business, currently part of Sun Life’s Canadian business. Together these businesses generated over CAD $1.4 billion in earnings for Sun Life in 2024.
“Sun Life is among the largest asset managers and insurance companies in the world, with CAD $1.54 trillion in assets under management,” added Mr. Strain. “Tom’s leadership and the additional businesses now within our asset management pillar mark an important next step for Sun Life, enabling collaboration and co-creation between our market leading asset management companies and our global insurance and wealth businesses to unlock new growth opportunities and to better serve our Clients.”
Effective January 1, 2026, Sun Life’s asset management financial results will reflect this new structure. This change will further highlight Sun Life’s enterprise-wide asset management capabilities and growth aspirations.
While Sun Life Asset Management will accelerate growth opportunities across its global enterprise, each of its asset management companies will continue to operate under their existing brand names with no impact to their governance structures, leadership teams, or investment philosophy.
“The depth and breadth of our global asset management capabilities is truly impressive,” said Mr. Murphy. “Sun Life has an enviable range of public and private asset classes including equities, fixed income, real estate, infrastructure, and private credit. We intend to unlock further growth opportunities between our asset management, insurance and wealth businesses by accelerating the distribution of our asset management solutions through Sun Life’s proprietary wealth channels, developing new strategic partnerships, leveraging our global balance sheet, and seeking new sources of permanent capital to drive revenue growth, enhance scale and provide access to seed capital.”
Mr. Murphy has more than 25 years of global asset management experience. He joined SLC Management in 2018, where he most recently held the role of President of SLC Fixed Income before being appointed Sun Life Chief Risk Officer in 2022. Before joining SLC Management, Mr. Murphy spent 20 years at Mercer where he built and led the company’s investment management businesses in Europe and led Mercer’s North American Investments, Retirement and Benefit Administration businesses. Mr. Murphy will remain Sun Life’s Chief Risk Officer until a successor is named to ensure a smooth transition.
