There's a new mutual fund sales chief at MFS. The Boston-based Sun Life subsidiary revealed that Douglas Bailey, formerly northeast divisional director, just took the position of national sales manager for MFS Fund Distributors.

MFS spokesman John Reilly confirmed that Bailey succeeds Jack McLean, who is leaving MFS. As for Bailey's old position as divisional director in the Northeast, Reilly confirmed that the post is still open, for now.

"We're looking to fill the position," Reilly told MFWire. "We haven't named anybody yet."

MFD president James Jessee, to whom Bailey reports, praised the new sales chief's "outstanding leadership qualities."

Bailey joined MFS in 1985.

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Company Press Release

BOSTON (April 6, 2009) – MFS Investment Management® (MFS®), the U.S.-based asset management firm that traces its origins to the creation of America’s first mutual fund, named Douglas F. Bailey as national sales manager for its U.S. mutual fund distribution unit, MFS Fund Distributors, Inc. (MFD). Bailey, a 24-year MFS veteran, most recently served as divisional director for the northeast region. He reports to James Jessee, president of MFD. The appointment is effective immediately.

“Doug has outstanding leadership qualities and reflects all of the values and strengths that are so important to MFS,” said Jessee. “Doug has held a series of increasingly important roles within MFD, and this is a natural next step in his outstanding career with our company.”

Bailey joined MFS in 1985 as a dealer service representative. He was named a broker/dealer telemarketing representative in 1986, a regional manager in 1987 and, in 1989, was named a regional vice president. He became a senior divisional director in 1999.

“MFS has provided me a tremendous career experience for more than 20 years and I look forward to taking the next step in leading the firm’s national sales efforts,” Bailey said. “MFS has a unique culture that places teamwork and client service first and I am excited for the opportunity to lead a strong, talented national sales team.”

Bailey has a bachelor’s degree from the State University of New York at Oswego.

About MFS Investment Management MFS is a premier global money management firm with investment offices in Boston, London, Mexico City, Tokyo, Singapore and Sydney. The firm’s history dates back to March 21, 1924, and the establishment of the first U.S. “open-end” mutual fund. Today, MFS manages $134 billion in assets on behalf of five million investors worldwide, as of December 31, 2008. 

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