Sun Life combines its global asset management businesses under a single division, naming a new president to oversee the restructure and integration
Sun Life has appointed Tom Murphy as president, Sun Life Asset Management.
Kevin Strain, president and CEO of Sun Life, said the new role and structure will bring all of Sun Life's asset management businesses together under one pillar.
He added that Sun Life Asset Management will also build new capabilities to drive synergies between the asset management and insurance
Murphy brings more than 25 years of global asset management experience.
He joined SLC Management in 2018 as head of affiliate development and business strategy, later becoming president of SLC Fixed Income and head of institutional business.
In 2022, he was appointed executive vice-president and chief risk officer of Sun Life, where he leads all aspects of risk management globally, including financial, insurance, credit, operational, and enterprise risk. He also oversees the company’s actuarial and asset liability management functions.
Before joining SLC Management, Murphy spent two decades at Mercer, where he built and led its investment management businesses in Europe and headed the North American investments, retirement, and benefit administration divisions.
Murphy will remain chief risk officer until a successor is named.
He said Tom Murphy’s leadership and the inclusion of additional businesses within the asset management pillar represent a next step for Sun Life, enabling collaboration between its asset management companies and its global insurance and wealth businesses.
Effective January 1, 2026, Sun Life’s asset management financial results will reflect this new structure.
Each asset management company will continue to operate under its existing brand name, with no changes to governance structures, leadership teams, or investment philosophy.
Murphy described Sun Life’s global asset management capabilities as broad, with a range of public and private asset classes including equities, fixed income, real estate, infrastructure, and private credit.
He said the company intends to pursue further growth opportunities between its asset management, insurance, and wealth businesses.
