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Rating:MFS CEO Seeks Organic Growth Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, August 24, 2009

MFS CEO Seeks Organic Growth

News summary by MFWire's editors

MFS CEO Robert Manning is expecting the mutual fund firm's AUM to double in the next five years. Manning told the Financial Times that he expects MFS to manage $320 billion of assets within the half decade, up from $160 billion at the end of June.

Manning expects MFS' growth to come organically:

"We have already invested in infrastructure: we've launched the products, and set up offices all over the world, and we already have a broad distribution platform," he told the paper, adding that "MFS is in the sweet spot."

The article profiles Manning, who spent his entire career at MFS prior becoming the mutual fund firm's CEO five years ago. His loyalty to Massachusetts should not be a surprise. He was raised in Methuen, north of Boston, before attending the University of Massachusetts. After graduating he joined MFS and earned a masters in finance degree from Boston College.

"The negative of growing up in only one company is that I have to be more open-minded and learn about the ways other companies do things," he told the paper. "The positive is that no one loves MFS more than I do. When a storm comes, I am not going to leave. I am going to stay and fight."

The paper also catches his humble side.

"I surround myself with bright and talented people and whether I am here or not, it doesn't matter. This isn't about Rob Manning," he says. "The essence of our culture is built around humility and teamwork." 

Edited by: Sean Hanna, Editor in Chief

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