NU Online News Service, Oct. 29, 2004, 3:00 p.m. EDT
Sun Life Financial Inc. says it plans to put most of the asset management business of its Sun Life Assurance Company of Canada subsidiary into a new corporate entity.[@@]
Subject to regulatory approvals, a newly incorporated holding company will become effective January 4, 2005.
Under the reorganization, Sun Life Assurance will transfer its shares of CI Fund Management Inc., McLean Budden Limited, MFS Investments and its other U.S. subsidiaries to the new holding company.