BOSTON--(BUSINESS WIRE)--Robert J. Manning, executive chair of MFS Investment Management® (MFS®), is announcing his plans to retire from the firm. After serving with MFS for more than 37 years, Manning, who joined the firm in 1984, will retire, effective March 1, 2022. MFS Chief Executive Officer Michael W. Roberge will assume the chair role following Manning's retirement and retain the CEO role as well.
"MFS is the only company I've ever worked for, and after more than three and a half decades, I've decided to transition to the next phase of my life. The firm has never been in a better position to succeed on behalf of our clients, and I'm extremely proud of the work we've done to make MFS a truly global, highly competitive world-class investment firm. I'm looking forward to spending more time with my family in addition to continuing to support and serve the University of Massachusetts system," said Manning, a 1984 graduate of the University of Massachusetts – Lowell and the current chair of the Board of Trustees for the UMass system.
Roberge, who has worked closely with Manning for nearly 25 years, including having served as co-CEO with him, will work in tandem with Manning over the ensuing period to ensure a smooth transition of duties, consistent with MFS' approach to succession planning.
"Rob is a genuine leader, friend and mentor to so many at MFS, myself included, and I'm proud to succeed him in this role. He's set high standards for MFS and will ultimately leave the firm in an extremely strong position for continued success globally in the years to come. We're all stewards of his legacy as we endeavor to serve our clients in the best manner possible, as Rob would want it," added Roberge.
Under Manning's leadership, MFS has evolved into a global investment manager capable of adding value for individual and institutional investors worldwide. Many of the initiatives and changes implemented by Manning and his leadership team have not only positioned MFS for continued success but also helped the firm weather the global financial crisis of 2008 and allowed it to continue to thrive today in the face of an ongoing global pandemic.
Manning joined MFS in 1984 as a fixed income research analyst and would go on to hold several positions within the firm's investment division, including fixed income portfolio manager, fixed income strategist and director of fixed income research. In 2004, he was named CEO and CIO. He added the chair role in 2010 and was named co-CEO alongside Roberge in 2015. He has been executive chair since 2017.
Roberge joined MFS in 1996 as a fixed income research analyst and later became a fixed income portfolio manager. In 2004, he added oversight of the firm's Fixed Income Department and would later oversee the firm's US Equity group and serve as head of global research from 2006 to 2010 before being named CIO in June 2010. As noted above, he served as co-CEO with Manning for two years before being named CEO in 2017.
About MFS Investment Management
In 1924, MFS launched the first US open-end mutual fund, opening the door to the markets for millions of everyday investors. Today, as a full-service global investment manager serving financial advisors, intermediaries and institutional clients, MFS still serves a single purpose: to create long-term value for clients by allocating capital responsibly. That takes our powerful investment approach combining collective expertise, thoughtful risk management and long-term discipline. Supported by our culture of shared values and collaboration, our teams of diverse thinkers actively debate ideas and assess material risks to uncover what we believe are the best investment opportunities in the market. As at August 31, 2020, MFS manages US$557.0 billion in assets on behalf of individual and institutional investors worldwide.
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