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ONE ON ONE“I AM OF THE LARRY BOSSIDY SCHOOL OF MANAGEMENT,WHICH SEES THE CEO HAVING RESPONSIBILITYFOR BOTH STRATEGY AND EXECUTION.“How does the approach differ in an emerging market?In an emerging market – particularly a newly opened market likeIndia – most companies will try to build their business ratherthan competing directly against each other. In India, the goal is toexpand our presence as quickly as possible. We don’t focus oncompeting with other new entrants because we are endeavouringto build a substantial and coherent base from which to grow. In amature market, the established competitor is a reality from dayone. The dynamics are different.Where does Sun Life rank on the global radar?We are the 5th-largest publicly owned company in North Americaand we are recognized as one of the international leaders. OneChief Executive Officer forum that I attend every 18 months hasonly about a dozen global insurance leaders. That forum prettymuch represents the leadership of the elite companies of theworldwide insurance market.Does being a Canadian company have any advantageson the global stage?Canada itself has important advantages. The diversity of ourworkforce is a major plus, as is our ability to speak multiplelanguages. We have the advantages of access to the Americanmarket while having our own economy and base from whichto launch forth. Our regulatory environment is highly regardedinternationally to a point where other regulators send their staffto Canada for training. It’s an advantage to be Canadian.What is the state of the financial services industryin Canada today?The financial services industry is in good shape at the moment.If you look at credit losses – which are an important indicatorof health for both the life insurance and banking industries –they are close to all-time historical lows. Business is growingand shareholders are being well rewarded, so there are manypositives in the Canadian market right now.What do you see as the ultimate role of a CEO?The essence of the CEO’s role is multifaceted. There are so manydimensions in business – particularly business that crosses severalsectors and geographic boundaries. I see the fundamental roleof the CEO as bringing together the resources of the corporation,to provide good shareholder returns and to act responsibly in allaspects of the business, in all markets. I am of the Larry Bossidyschool of management, which sees the CEO having responsibilityfor both strategy and execution.Then do you believe that a CEO should be involvedin all aspects of company business?The CEO has the ultimate responsibility and must be free to getinvolved in a particular area of business if he or she decides to doso. But no CEO can effectively carry out his or her role payingexcessive attention to one particular part of the business withoutneglecting another part. It boils down to making sure that theright leadership is in place across all aspects of the business.What is your vision of management as the CEOof Sun Life Financial Inc.?An interesting reality of globalization is that there is work goingon all the time. By the time I arrive at work every morning, Asia hasalready put in a full day. That continuous activity is a pervasivereality to running Sun Life. That is a challenging and exciting partof any international organization, particularly at Sun Life wherewe are active in markets all around the world. Basically, you haveto have capable people on the ground in Asia. That is true everywhere.You have to have the right people in the right place at theright time.In your opinion, what makes you the right man to leadSun Life Financial Inc. into the 21st century?I first ran a business unit in 1980, which taught me a great dealabout managing a distinct business. It came at a time when theunit had to transform from historical fixed products into a futureorientedsavings business. After taking that business fromnumber five in the rankings to number one I spent five yearsleading Information Technology, which is a critical resource infinancial services. Later, when the real estate crash hit in Toronto,Sun Life faced major challenges. I was able to turn around anotherbusiness that was losing about $1 million a week. I was thenappointed Chief Actuary for the company, which put me in closecontact with all aspects of company business worldwide. WhenI became CEO, I had 30 years of extremely diverse experience,which is fundamentally what is needed to run a corporationlike Sun Life.12HEC Montréal MAG › Printemps 2006