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MFS Goes After Plan Investment Business

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MFS Investment Management has set up an office that will sell investment services directly to defined contribution retirement plans.

MFS, Boston, a unit of Sun Life Financial Inc., Toronto, says Matt Gannon, a senior vice president, will be the director in charge of the “defined contribution investment-only” business development office.

Gannon will manage a team of retirement plan investment specialists, a sales desk, and about 120 sales and relationship management reps.

MFS decided to focus on selling investment-only services to retirement plans after Sun Life sold the MFS recordkeeping operations to Hartford Financial Services Group Inc., Hartford, MFS says.