Sun Life Financial Inc. is bidding adieu to CEO Donald Stewart on November 30 and has named COO Dean Connor as his successor effective December 1.

Stewart, who has been with Sun Life since 1969, is credited with expanding the company's operations in Canada, the U.S. and Asia.

His successor, who joined Sun Life in 2006 from Mercer Human Resource Consulting, is reportedly looking to build upon Stewart's success within those regions.

Bloomberg reports that Toronto-based Sun Life will "will continue to focus on operations in North America and Asia, as well as asset-management businesses such as Boston-based MFS Investment Management, which created the first U.S. mutual fund in the 1920s."

"We see great opportunities for Sun Life to grow that part of the business," Connor was quoted by Bloomberg as saying.

Meanwhile, Connor told Reuters that the company's focus will now be to "get bigger and stronger in the markets in which we currently operate as opposed to planting new flags in new countries." 

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