Sun Life Financial Inc. announced the appointment of Tom Murphy as Executive Vice-President and Chief Risk Officer, effective December 1, 2022. Tom is currently President of Fixed Income and Head of Institutional Business for SLC Management, Sun Life's alternatives asset manager. In his new role, Tom will lead all aspects of risk management across Sun Life globally, including Financial, Insurance, Credit, Operational and Enterprise Risk.

He will also have oversight responsibility for global Actuarial and Asset Liability Management (ALM) functions. Tom brings more than 25 years of global asset management experience to Sun Life. He joined SLC Management in 2018 as Head of Affiliate Development and Business Strategy.

Prior to that, he was a Senior Partner with Mercer for 20 years where he built and led the company's investment management businesses in Europe and also led Mercer's North American Investments and Actuarial businesses. A native of Dublin, Ireland, Tom holds a Bachelor's degree in Economics and Statistics from University College Dublin and has a Master of Business Administration from UCD Michael Smurfit Graduate School of Business in Dublin. He is a Fellow of the Society of Actuaries in Ireland.

Tom is also a member of the Massachusetts Board and Chair of the Development Committee for Bottom Line, a non-profit organization dedicated to supporting low income and first-generation students enroll into and get through college. Tom will work from Sun Life's offices in Wellesley, Massachusetts and Toronto, Canada. Tom succeeds Colm Freyne, Executive Vice-President and Chief Risk Officer, who will retire from Sun Life on May 1, 2023, after serving 20 years with the company.

Colm will transition to the role of special advisor to the CEO on December 1, 2022. He will also support Tom in his onboarding to the Chief Risk Officer role and provide strategic advisory support to the Executive Team until his retirement. Colm joined Sun Life in 2003 and has held various progressive, executive roles with the company.

From 2009 to 2017, he served as Sun Life's Chief Financial Officer and then moved into his current role as Chief Risk Officer in 2017 where he currently leads Risk Management, Actuarial and ALM.