Tom Murphy
Sun Life Assurance Co. of Canada promoted Tom Murphy, the firm’s executive vice president and chief risk officer, to president of its new asset management division, it announced Monday.
The creation of Sun Life Asset Management and Murphy’s appointment come as the company plans to accelerate growth across its global businesses. The firm manages C$1.54 trillion ($1.1 trillion) in assets and provides insurance, pension risk transfer and asset management services.
“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,” said Kevin Strain, Sun Life’s president and CEO, in a statement. “Sun Life Asset Management will also build new capabilities to better drive synergies between our asset management and insurance businesses.”
There will be no leadership changes to any other business unit within the company, according to a Sun Life spokesperson.
Prior to joining Sun Life in 2022, Murphy was president of fixed income and head of institutional business at SLC Management, and he previously spent nearly 21 years at Mercer, holding titles such as U.S. wealth business leader and U.S. leader of OCIO/delegated investments.
A native of Ireland, Murphy earned a bachelor of arts degree in economics and statistics from University College Dublin and an MBA from the university’s Smurfit Graduate Business School.
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Tags: Sun Life Financial