Sun Life Global Investments Inc. has completed its purchase of Excel Funds Management Inc. and Excel Investment Counsel Inc.

The company originally announced the acquisition of Excel Funds, an investment manager that specializes in emerging markets funds, in September and completed the purchase on Jan. 2, 2018.

Read: Sun Life subsidiary to acquire emerging market manager

The purchase will speed up the growth of Sun Life Global Investments and meet the strategy of expanding the Canadian wealth management business of Sun Life Financial Inc., the company said in a statement.

The former president and chief executive officer of Excel Funds, Bhim Asdhir, will join Sun Life Global Investments in a newly created leadership role as head of emerging markets and business development.

“I’m thrilled to join Sun Life Global Investments and excited to take on this new role,” said Asdhir in a statement. “I look forward to working with advisors and clients who see opportunities within emerging markets as we continue to build on the great achievements we’ve seen with Excel Funds, but now under the Sun Life Global Investments banner.”

Read: Sun Life names Jacques Goulet president for Canada

“Sun Life Global Investments has achieved a significant milestone, as we officially welcome Excel Funds to the Sun Life family,” Rick Headrick, president of Sun Life Global Investments, said in a statement.

“By expanding our lineup of emerging market funds and adding Excel’s exchange-traded funds, clients will have more choices through which to achieve their financial goals. We’re beginning the integration process, with the goal of ensuring a seamless transition for clients and advisors of both Sun Life Global Investments and Excel Funds.”

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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