Sun Life Financial has added Patrick Cronin and Stacey Madge to its board of directors.
Cronin brings more than three decades of experience in banking and financial services, both in Canada and internationally. He most recently served as special advisor to the chief executive of BMO Financial Group. Before that, he was BMO’s chief risk officer. Cronin played a significant role in the company’s acquisition of Bank of the West in 2023, among other things.
From 2001 to 2018, Cronin held several senior positions at BMO Capital Markets, including trading products head, chief operating officer, and CEO. During his tenure, he oversaw areas such as sales, trading, research, and structuring groups in various product lines and led significant growth in the US and Asian markets.
Cronin expressed enthusiasm about joining Sun Life, noting that the company’s strategic goals align closely with his experience in capital markets, financial management, mergers and acquisitions, and risk management.
Madge, meanwhile, is an accomplished executive with over 30 years of experience in financial services and technology. She retired from her role as president and country manager of Visa Canada to focus on community and advisory work. At Visa Canada, Madge drove substantial growth, secured new client acquisitions, and forged partnerships in financial technology.
Before her time at Visa, Madge held several senior roles at Scotiabank, including head and senior vice president of international retail and small business banking, overseeing operations in 30 Latin American and Caribbean markets. Her career also includes over a decade at McKinsey & Company.
Madge emphasized the importance of life insurance in enhancing clients’ financial health and wellbeing. Meanwhile, her experience in digital transformation, fintech partnerships, client experience, and risk management is expected to help guide Sun Life’s strategic direction.
The appointments took effect on July 31.
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