• Apr 17, 2018

    Bloomberg announces: (BFW) Sun Life Hires Deutsche Bank Vet Doire at $17 Billion Unit

    Sun Life Hires Deutsche Bank Vet Doire at $17 Billion Unit (1)

    2018-04-16 17:59:18.212 GMT

     

    By Sonali Basak

    (Bloomberg) -- Steve Doire, a veteran of Deutsche Bank AG’s asset-management unit, will be president of Sun Life Financial Inc.’s Prime Advisors business.

    * Don McDonald, Prime Advisors’ former president and CEO, is no longer at the firm, Sun Life said Monday in an emailed statement

    * Doire helped expand Deutsche Bank’s insurance asset-management unit from $27 billion to more than $200 billion during his tenure, Sun Life said

    * He reports to Randy Brown, chief investment officer of Sun Life Financial and Doire’s former colleague at Deutsche Bank

    * Prime Advisors had more than $17 billion under management at the end of 2017

    * Doire’s unit, which spun off of Deutsche Bank and is now part of DWS Group, hired Michele Gaffo as global head of insurance coverage, according to memo sent to staff by Bob Kendall in February

    * Gaffo joined DWS after being CIO of Italy’s Poste Vita

    * DWS had $179 billion of insurance assets at end of Dec., spokeswoman Oksana Poltavets said in an e-mail

     

    To contact the reporter on this story:

    Sonali Basak in New York at sbasak7@bloomberg.net To contact the editors responsible for this story:

    Michael J. Moore at mmoore55@bloomberg.net Steven Crabill, Alan Mirabella