MFS Investment Management has named Robert Manning, its current CEO and CIO, to succeed Robert Pozen as chairman of the company. Pozen is set to retire at the end of the year, an announcement said today.
The Boston-based money manager made the move to replace the departing Pozen as an attempt to offer a “smooth succession for the leadership for MFS,” Manning said. Pozen will become a chairman emeritus and retire Dec. 31.
“Being part of a company with such an important role in the development of the asset management industry has been an extraordinary experience,” Pozen commented. “I am delighted to have contributed to the growth and success of MFS and believe it is in the best of hands for our clients.”
Furthermore, Manning will continue to hold onto CEO duties while he works closely with trustees moving forward but will transfer his lead investment responsibility to Michael Roberge, a president and co-director of global research at MFS. Roberge will also hold onto his previous research role.
Additionally, Non-U.S. and Global Equity Investment CIO David Antonelli and Head of Global Distribution Martin Beaulieu will be new vice chairmen of the company.
In their new roles, Antonelli will focus on portfolio management and advise on the global research platform. Alternately, Beaulieu will assume a greater role in industry-related issues, while retaining his global distribution head responsibilities. All appointments will take effect July 1.
“Today's announcement reinforces that MFS will continue to be led by those whose background is investment management and who are steeped in the culture of our firm,” Manning said.
As of March 31, the Sun Life Financial subsidiary managed more than $195.4 billion in assets for its individual and institutional clients.