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Sun Life To Sell U.K. Subsidiary To Credit Suisse

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NU Online News Service, Oct. 15, 2:45 p.m. – Sun Life Financial Services of Canada Inc., Toronto, has agreed to sell a subsidiary Sun Life of Canada Asset Management, London, to Credit Suisse Asset Management, a division of Credit Suisse Group.

The sale is subject to approval from regulators in the UK and is expected to close in the fourth quarter.

The value of the deal was not disclosed.

The London operation employs 150 people. It has focused on managing U.K. assets for its parent company.

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