Sun Life President Wins CEO of the Year Award


Sun Life Financial (SLF) president and CEO Jacques Goulet has won the CEO of the Year award in the Large Business category by Les Affaires business magazine.

This award recognizes the work of CEOs and managers who have made it their mission to inspire their teams to grow their business. Sun Life is one of the world’s largest life insurance companies. (See Analysts’ Top Stocks on TipRanks)

An Inspiring Leader

Jacques joined Sun Life as president of Sun Life Canada in 2018. An actuary by training, he previously held a number of management positions in Canada, Europe, and the United States within a large consulting firm.

In the midst of an economic recovery and the uncertainties caused by the pandemic, Jacques has stood out throughout the past year thanks to the implementation of numerous initiatives, particularly in mental health.

Since Jacques joined Sun Life Canada in 2018, the company’s earnings growth has doubled, surpassing that of the company’s main competitors, thanks to strong, balanced, and sustainable growth in all of its Canadian operations.

Selection Committee Commentary

Jean-Paul Gagné, chair of the selection committee, said, “The judges were very impressed with Sun Life’s human resources policies. The mental health strategy that the company put in place during the COVID-19 pandemic is very comprehensive and is designed to help employees, students, and business leaders alike. It is based on eight practical measures aimed at both preventing mental illness and getting employees back to work. Employees have access to psychologists, personal coaches and speakers, and can connect with therapy and telemedicine services.”

Wall Street’s Take

On November 5, CIBC analyst Paul Holden maintained a Buy rating on Sun Life and raised its price target to C$81 (from C$74). This implies 16.3% upside potential.

Overall, the consensus is that SLF is a Moderate Buy, based on nine Buys, one Hold, and one Sell. The average Sun Life price target of C$79.85 implies 14.6% upside potential to current levels.

TipRanks’ Smart Score

SLF scores a “Perfect 10” on the TipRanks Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.

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