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Thursday, March 26, 2009

MFS Appoints a New Finance Chief

News summary by MFWire's editors

MFS Investment Management hired Amrit Kanwal as executive vice president and chief financial officer. He will start at the Boston asset manager on April 20 and report to MFS president and CEO Robert Manning. Kanwal takes on the duties formerly held by Paul Kirwan, who passed away last December.

Kanwal was most recently senior managing director and chief financial officer at Putnam Investments, where he spent nine years. He left Putnam in March of last year.
Company Press Release

BOSTON (March 26, 2009) – MFS Investment Management® (MFS®), the U.S.- based asset management firm that traces its origins to the creation of America’s first mutual fund, has named Amrit Kanwal as executive vice president and chief financial officer and appointed him to the firm’s management committee. He reports to Robert Manning, MFS president and chief executive officer, and his duties include overseeing all aspects of corporate finance as well as acting as a key liaison with MFS parent company, Sun Life Financial of Canada.

"Amrit brings a wealth of experience as both a financial officer and as a strategic business development manager to MFS," said Manning. "MFS is uniquely positioned to grow as a global asset management firm and looks forward to the finance and business development leadership Amrit brings to MFS. He possesses the exact skills and experience necessary to support our business strategies as a premier global money manager."

Previously, Kanwal was a senior managing director and chief financial officer of Putnam Investments. Prior to his role as CFO, he held several senior finance roles during his nine year tenure at Putnam. Kanwal also previously served as vice president of corporate development and strategy for Sequa Corporation of New York for two years, managing all merger and acquisition activity as well as overseeing finance, human resources and investor relations. Prior experience includes senior strategy and corporate development roles at Pepsi-Cola Company and Miller Brewing Company.

"I’m excited to join MFS, a company I have always viewed as an excellent competitor and one that upholds high standards in everything that it does," Kanwal said. "I hope to make a lasting impact joining the firm as it celebrates its 85th anniversary which helps solidify its long term growth and success for the next 85 years and beyond."

Kanwal holds a bachelor of business administration from the University of Texas at Austin and a MBA from the University of Southern California.

About MFS Investment Management

MFS is a premier global money management firm with investment offices in Boston, London, Mexico City, Tokyo, Singapore and Sydney. The firm’s history dates back to March 21, 1924, and the establishment of the first U.S. “open-end” mutual fund. Today, MFS manages $134 billion in assets on behalf of five million investors worldwide, as of December 31, 2008.

Edited by: Armie Margaret Lee

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