MFS Investment Management, the world’s first ever mutual fund, has named a new chief executive as it prepares to launch exchange traded funds.
The mutual fund announced it is promoting Ted Maloney, its chief investment officer, to CEO as of January 2025.
The Boston-based money manager, with $578bn in assets under management, said that current CEO Michael Roberge would become executive chair.
MFS launched the world’s first mutual fund in 1924 and is the ninth largest US mutual fund complex.
One of Maloney’s early tasks will be overseeing MFS’s planned launch of its first exchange traded funds, which are rapidly gaining on mutual funds as the collective investment vehicle of choice.
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