January 28, 2015
Sun Life Investment Management and Ryan Labs Asset Management announced today an agreement whereby Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) will purchase Ryan Labs Inc. of New York City from the firm’s current owners. The transaction is expected to close in the first quarter of 2015, subject to regulatory approval and customary closing conditions, and is not material to the results of Sun Life Financial Inc.
Ryan Labs will retain its brand name and will maintain the location of its headquarters at 500 Fifth Avenue in New York City. Its operations will continue to be managed by its current team, headed by President, Sean McShea . McShea will report to Steve Peacher, President, Sun Life Investment Management and Chief Investment Officer, Sun Life Financial.
“Bringing an established and innovative firm like Ryan Labs into our family is a significant first step in building Sun Life Investment Management’s third-party business in the U.S.,” Peacher said. “They have a first-rate track record and share our focus on bringing value for liability driven investors.”
“We are pleased to join forces with such a strong, well-respected company as Sun Life who share our commitment to servicing the unique needs of liability-focused and other institutional investors,” McShea said. “It will be business as usual as we continue to deliver for our clients. Moving forward, we will benefit from the resources and support of Sun Life as we continue to develop and grow our business.”
For further information regarding the Sun Life Financial and Ryan Labs merger, please download the press release .