Sun Life Financial Inc. seems as if it might make an acquisition in the United States, according to securities analysts at Citi.
Colin Devine and Priya Mehrotra, the analysts at Citi, New York, suggest in a research note that Sun Life, Toronto (TSX:SLF), may be more likely engage in “transformational mergers and acquisitions” because Don Stewart, the chief executive officer (CEO), has announced plans to retire Dec. 1.
Dean Connor, the company’s chief operating officer, is on track to succeed Stewart as CEO, the Citi analysts say.
The analysts suggest that Sun Life could acquire a U.S. disability insurance business or a U.S. 401(k) plan business.
- Allison Bell