Massachusetts Financial Services Co., a Boston investment management firm that does business as MFS Investment Management, has launched a business development unit for the "defined contribution investment only" market.
Matt Gannon was promoted to senior vice president and director of defined contribution investment only and strategic alliances and will run the unit, MFS, which is majority owned by Sun Life Financial Inc., said Tuesday.
Mr. Gannon was the director of dealer relations before the promotion.
He will run a team of dedicated defined contribution specialists, a specially trained sales desk, and more than 120 sales and relationship management professionals, MFS said.
According to the Chicago research firm Spectrem Group, 54% of plan sponsors in this market say they plan to add to their offerings within the next 12 months.
MFS had $183 billion of assets under management as of June 30.