Effective 1 January 2024, Michael Derwael will also retain his current responsibilities as senior director, independent risk, said a press release from the firm.

“It’s an honour to be appointed head of office for MFS Luxembourg, especially as the firm turns 100 and the industry celebrates a century of asset management,” said Derawel in the communiqué, highlighting Luxembourg’s key role in the development of the cross-border fund industry and its expertise in servicing a wide range of asset management clients. “I’m committed to seeking the best outcomes for the team, the company and most important, our clients.”

Derwael, who joined MFS in 2019 and is based in the firm’s Luxembourg office, previously worked at Lombard Odier Investment Managers, Luxcellence, Amundi and Quintet. He’s a board member of the Luxembourg Association for Risk Management (Alrim), co-chair of Alfi’s liquidity risks working group, founding member of the Global Fund Risk (GFR) certification and an adjunct professor at the University of Luxembourg.

“I’m delighted that Michael is stepping into the role of head of office for Luxembourg,” commented Jon Aliber, member of the MFS management committee. “He is an integral part of the Luxembourg management team and familiar with the local marketplace and best practices. His extensive knowledge and wealth of experience will be instrumental in keeping the office running smoothly and efficiently.”

MFS Investment Management is authorised under Luxembourg law as a management company for funds domiciled in the grand duchy and was incorporated in Luxembourg in 2000. As of 31 December 2022, it employed 51 staff members and had €35.6bn in assets under management. Its ultimate parent company is Sun Life, a company headquartered in Toronto, Canada.