Shames, who is retiring, said the moves was long planned so that he could spend more time with family. "I decided to see the company through to a settlement with the regulators, and Im now leaving the company in the hands of a very strong management team," he said in a statement.
To fill Shames shoes the firm has nabbed industry veteran Pozen, who is currently a visiting professor at Harvard Law School, and recently the Secretary of Economic Affairs for Massachusetts Governor Mitt Romney. In addition to serving as vice-chairman of Fidelity Investments, Pozen was also the president of Fidelity Management and Research Company, the investment advisor to the Fidelity mutual funds.
The move comes amid a tumultuous week for MFS in which the firm reached a $350 million settlement with regulators and saw the
