MFS Creates DC Investment-Only Business Development Office

MFS Investment Management has formed a defined contribution investment only (DCIO) business development office, to be headed by Matt Gannon, who now assumes the title of senior vice president and director of DCIO and strategic alliances.

“MFS brings more than 80 years experience in managing money, working with financial advisers,” said Martin Beaulieu, managing director and head of global distribution for MFS. “Our value proposition is unmatched in this marketplace: a long history of working with advisers, of managing money and understanding the needs of plan sponsors and plan participants.

"We believe we can support advisers, through our products, our people and our experience, and help them grow their DCIO retirement practices," Beaulieu added.

Gannon, who was previously director of dealer relations at MFS, said, “Following the sale of our proprietary recordkeeping platform to The Hartford last year, MFS made the strategic decision to be a pure asset manager and to provide investment solutions across various markets and platforms, including DCIO. Advisers serving the DCIO marketplace want a trusted partner with a longstanding, proven track record of both investment acumen and support of advisers serving the retirement market.”