Source: The Canadian Press

Sun Life Financial Inc. (TSX:SLF), Canada’s third-largest insurance company, has appointed former Montreal Board of Trade president and CEO Isabelle Hudon to head the insurer’s Quebec operations and boost its presence in the province where the international financial services giant got its start.

Hudon, most recently president of marketing agency Marketel, headed the Montreal Board of Trade from 2004 to 2008. She formerly held communications positions with Bell Global Solutions, the Canadian Space Agency and BCE Media, in addition to roles in various federal government departments.

“We are thrilled to be welcoming Isabelle Hudon to Sun Life Financial’s Quebec team, where she will play a key role in building our profile, in community involvement and in accelerating our growth strategy in the province,” said Kevin Dougherty, president, Sun Life Financial Canada.

Hudon officially took over as Sun Life Financial Canada’s Quebec president Monday.

“Isabelle is a well-known figure on the Quebec business scene and her outstanding leadership and entrepreneurial skills will support our goal of maintaining and enhancing Sun Life Financial’s position in the very competitive Quebec market,” Dougherty said.

Sun Life is a major employer in Quebec with 1,400 employees.

The company was founded in Montreal in 1865 as The Sun Insurance Company of Montreal and expanded from that base around the world. In 1978 Sun Life moved its head office to Toronto after the separatist Parti Quebecois government came to power and passed a new law that made French the official language of the workplace in Quebec.

“We have deep roots in Quebec and the province is a key market for us and has a central role in the business strategy for Sun Life Financial in Canada,” added Dougherty.

Sun Life Financial sells insurance, retirement and investment services to individuals and businesses around the world including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. The company employs more than 16,000 people, including 7,000 in Canada.

Last week, the company reported its net profits fell sharply to $213 million for the three months ended June 30, compared with earnings of $591 million for the same period last year, when the company benefited from reserve-related and other gains on its books.

The latest results reflect losses on the stock market and low long term interest rates which squeezed the company’s bond investments.

IE