Sun Life has announced that Tom Murphy will become President of Sun Life Asset Management as the company brings all its asset management businesses together under one organizational structure. This move is intended to support growth across Sun Life's global asset management operations.
Kevin Strain, President & CEO of Sun Life, stated, "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."
The reorganization means that Sun Life Asset Management will now include MFS, which provides equity and fixed income solutions; SLC Management, which focuses on alternative assets and fixed income; Sun Life’s stake in Aditya Birla Sun Life Asset Management in India; and the pension risk transfer business previously part of the Canadian division. In 2024, these combined businesses generated over CAD $1.4 billion in earnings for the company.
Strain added, "Sun Life is among the largest asset managers and insurance companies in the world, with CAD $1.54 trillion in assets under management. 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."
Starting January 1, 2026, financial reporting for these units will reflect the new structure. Each individual business unit within Sun Life Asset Management will continue operating under its current brand name without changes to governance or investment approach.
Murphy commented on his appointment: "The depth and breadth of our global asset management capabilities is truly impressive. 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."
Murphy brings more than 25 years’ experience in global asset management. He joined SLC Management in 2018 as President of SLC Fixed Income before becoming Chief Risk Officer at Sun Life in 2022. Previously he spent two decades at Mercer overseeing investment management operations in Europe as well as North American investments and retirement services. Murphy will remain Chief Risk Officer until a successor is named.
Sun Life operates internationally across markets such as Canada, the U.S., UK, Ireland, Hong Kong, India among others. As of June 30, 2025 it managed $1.54 trillion in assets globally.
MFS manages US$644.1 billion worldwide as of August 30, 2025 according to mfs.com.
SLC Management had C$408 billion (US$300 billion) under management as of June 30, 2025 with Advisors Asset Management contributing an additional C$13 billion (US$9 billion) in assets under administration via slcmanagement.com.
Aditya Birla Sun Life AMC Limited is among India’s largest managers with around 10.6 million investor folios across more than 300 locations nationwide.