MFS, Natixis Both Name New CEOs
Philippe Setbon will step into the Natixis job immediately, while Edward Maloney’s promotion at MFS will take effect in 2025.
Two asset managers with large defined contribution-relevant offerings named new heads on Thursday.
MFS Investment Management has laid out succession planning for the next CEO, naming Edward Maloney to the role effective in January 2025, the firm announced Thursday. Maloney will succeed and report to Michael Roberge, who will move to the role of executive chair at that time, having served as CEO since 2017.
Ted Maloney
Maloney has been CIO of the investment manager since 2019, overseeing the firm’s investment platform and 300 researchers, portfolio managers and traders. He will retain the position of CIO along with CEO, according to a spokesperson.
MFS is the country’s 14th-largest fund provider by long-term assets, according to Simfund, which, like PLANADVISER, is owned by ISS STOXX. Among active mutual fund managers, it ranks ninth in the U.S., according to Simfund.
As CEO, Maloney will take on strategy and direction for MFS at its 100th anniversary, having been founded in 1924 in Boston with the creation of the Massachusetts Investors Trust, the country’s first mutual fund, according to the firm. In his new role, Maloney will lead more than 2,000 employees across investment, distribution, finance, human resources, legal and technology.
“Having worked with Ted for nearly two decades, I have seen firsthand the profound impact that his leadership has had on the firm and our clients worldwide and know he is the best person to lead MFS forward,” Roberge said in a statement. “His appointment is the culmination of many years of leadership planning and is consistent with MFS’ long-term approach to executive transitions.”
Maloney joined the firm in 2005 as an equity research analyst and has held roles including director of U.S. equity research and global director of research. He has also established a team of co-CIOs across investment divisions and has played a role in “driving greater diversity and inclusion” across the investment team, according to the announcement.
MFS had $575.8 billion in total assets under management, with $308.6 billion of those in mutual funds, as of November 30.
Natixis Brings Over Ostrum Asset Management CEO
Natixis Investment Managers appointed Philippe Setbon as CEO, effective immediately, according to an announcement from parent firm Group BPCE, based in Paris.
Philippe Setbon
Setbon had been CEO at Ostrum Asset Management, an affiliate manager of Natixis, since 2019. He succeeds Tim Ryan, who had been CEO since 2021 and will be leaving the firm to “pursue his career outside the group,” according to the announcement.
Setbon will be in charge of asset and wealth management and will be a member of both the senior management committee of Groupe BPCE’s businesses and the BPCE executive committee. He will report to Stephanie Paix, Group BPCE’s CEO.
“Asset and wealth management is a core business for the group and one of global standing and a source of growth and diversification,” Paix said in a statement. “I would like to thank Tim Ryan for his work and accomplishments over this near three-year period. He notably simplified and leveraged our model’s particularly rich offering.”
Olivier Houix will be taking over as CEO of Ostrum, according to the announcement, moving from his role as Group BPCE’s chief sustainability officer. That division had $404.2 billion in assets under management as of September 30.
Setbon began his career in 1990 as a financial analyst with Barclays Bank, later taking senior roles, including CEO of Generali Investments France, CEO of Generali Investments Europe Sgr and CIO for the Generali Group.
Natixis has $1.2 trillion in AUM and is the country’s 26th-largest target-date-fund provider by assets, according to Simfund.