Sun Life Financial Inc. has appointed veteran financial executive Marcia Moffat to its board of directors, strengthening governance as the global insurer navigates a leadership transition and continues to expand in key markets, including the Philippines.

The appointment, effective 6 March, was disclosed in a regulatory filing on the same day. Sun Life noted that Moffat brings more than three decades of experience across asset management, retail banking, investment banking and legal practice in North America and Europe.

Moffat most recently served as chief executive officer of BlackRock Asset Management Canada and country head of BlackRock, where she helped expand the firm’s institutional and wealth management businesses and oversaw the broader adoption of its enterprise investment technology platform across the Canadian market.

Corporate lawyer

Her career also includes 12 years with Royal Bank of Canada, where she held senior roles spanning capital markets, investor relations and retail banking. Earlier in her career, she worked as a corporate securities lawyer at Shearman & Sterling in New York and Paris, advising on complex cross-border debt and equity transactions.

The board appointment comes as Sun Life undertakes a leadership transition in its Philippine operations. Announced last January, longtime executive Benedict Sison, who led Sun Life Financial Philippines as chief executive officer and country head for 15 years, is set to retire on 1 April 2026.

Jonathan Juan “JJ” Moreno will succeed him, currently president of Sun Life of Canada (Philippines) Inc. Moreno joined the organization in 2025 after previously serving as president and CEO of AF Payments Inc., bringing experience across financial services, retail and transport systems.

Sison will remain involved with the organization during the transition, serving as strategic adviser and chairman of Sun Life Philippines Holding Company and the Sun Life Foundation until the end of 2026, ensuring continuity as the company moves into its next phase of growth.

Sun Life remains bullish on expansion in the Philippines, where insurance penetration remains relatively low compared with global averages. The company has been expanding its client base and product offerings as demand grows for protection, investment and health solutions among the country’s rising middle class.