Toronto-based Sun Life Financial Inc. is shaking up its leadership team with a new head of its Canadian business and a newly created role devoted to innovation, as well as a new leader for its investment distribution business, the company has announced.
Kevin Dougherty, president of Sun Life Financial Canada, will become executive vice president of innovation and partnerships. In this newly created role, Dougherty will focus on accelerating growth through innovation. His responsibilities will include:
> Digital Health Solutions, a business unit launched in late 2016 focused on innovations related to health and well-being;
> the insurance research lab, which is focused on developing new approaches to insurance underwriting and related innovations;
> external innovation partnerships, including relationships with Sunnyvale, Calif.-based global technology accelerator Plug and Play Tech Center and Toronto-based innovation hub MaRS Discovery District;
> accelerating data analytics capabilities and the use of artificial intelligence in Sun Life's operations and business models; and,
> managing Sun Life's use of reinsurance globally.
"Kevin has consistently demonstrated a unique ability to create new business models where none existed, and to rally Sun Life leaders to collaborate across boundaries, as one unified team," says Dean Connor, president and CEO of Sun Life Financial, in a statement. "Putting a leader of Kevin's calibre against our innovation and partnership agenda speaks to our commitment to creating meaningful differentiation in the marketplace, and for clients."
The creation of the new role comes as Sun Life has recently ramped up its digital innovation efforts considerably, with a variety of new initiatives that aim to automate processes such as underwriting, and improve the customer experience. Earlier this year, the company appointed Stevan Lewis as its first senior vice president of digital transformation.
Dougherty joined Sun Life in 1994 and assumed his role as president of Sun Life Financial Canada in 2010.
Meanwhile, Jacques Goulet has been appointed to take over Dougherty's current position as president of Sun Life Financial Canada. Goulet joins Sun Life from New York City-based human resource consulting firm Mercer LLC, at which he is president, health and wealth, with responsibility for the firm's global retirement, health, investment consulting, and investment-management businesses.
Goulet will be responsible for Sun Life's group benefits, group retirement services, individual wealth, insurance and investment management businesses in Canada.
"Jacques is known as a transformational leader with global experience," says Connor in a statement. "His track record for developing strong teams, driving business growth, and raising the bar on client outcomes will serve our Canadian businesses well as we strive to extend our leadership position."
Both appointments are effective Jan. 15, 2018.
Sun Life also announced on Friday that Jordy Chilcott has been appointed head of investment distribution at Sun Life Global Investments (SLGI).
In his new role, Chilcott will be responsible for leading the distribution arm of SLGI's retail investment business and creating strategies to achieve sales growth across all retail investment products in Canada.
Most recently, Chilcott served as senior vice president of global asset management at Toronto-based Bank of Nova Scotia and president and CEO of Dynamic Funds. In these roles, he was responsible for overseeing multiple asset-management companies across Canada, Mexico and Asia. Previously, Chilcott held various senior leadership roles at Dynamic Funds, Standard Life Mutual Funds and Investors Group Inc.
"Jordy is well known and a strong force in the industry, bringing a great depth of experience and a real passion for distribution and client service. We are thrilled to welcome him to our team," says Rick Headrick, president of SLGI, in a statement. "Jordy joins us at a pivotal moment and key milestone in the company as we celebrate a big accomplishment — reaching $20 billion in assets under management in just seven years of operation."
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