Welcome!

News Feed Item

Sun Life Financial to relocate corporate headquarters to One York Street

TORONTO, Feb. 25, 2014 /PRNewswire/ - Sun Life Financial Inc. (Sun Life Financial) today announced that it will consolidate employees currently located in two downtown Toronto offices into a new corporate headquarters at One York Street in the dynamic south core financial district. Sun Life Financial is scheduled to relocate to the new building in 2017.

The building is being developed by Menkes Developments Ltd. (Menkes) and Healthcare of Ontario Pension Plan (HOOPP). HOOPP will also be a tenant of this leading edge office development.

"This building was carefully chosen and best fits the multi-faceted needs of our business. It will also give us the opportunity to design a space that fosters the collaborative, high performing culture we value at Sun Life," said Dean Connor, President and Chief Executive Officer, Sun Life Financial.

The 35-storey building was designed by Sweeny Sterling Finlayson & Co. Architects and is under construction just south of Union Station in the fast growing south core financial district, steps from the city's waterfront. Sun Life Financial will occupy approximately ten floors of the building and, together with HOOPP, will comprise just under 60% of the leasable space. One York Street will begin occupancy in the summer of 2016 for initial tenants.

"We are looking forward to joining Toronto's leading edge south core community. This is a prime location within a vibrant part of the city. The new eco-friendly property supports our company's sustainable growth initiatives," said Connor.

One York Street will offer Sun Life Financial customers, advisors and employees a bright and open business environment. The 800,000 square foot office tower, designed to achieve Leadership in Energy and Environmental Design (LEED) Platinum certification, will provide an exclusive terrace, green space, 200,000 square feet of retail, underground parking and connection to Toronto's PATH network.

"The south core location has attracted many AAA tenants with its dynamic location, new infrastructure, and connectivity with Union Station," said Peter Menkes, President of the Commercial/Industrial Division at Menkes. "It has become a very desirable location for many Canadian head offices and the building design will create a landmark to the entry of the downtown core."

"We are excited to be part of this project, helping shape the marketplace while continuing with our commitment to environmental stewardship," said Michael Catford, Vice President, Real Estate, HOOPP. "It's no surprise that this LEED Platinum-pursued tower represents a new and attractive option for companies looking beyond the traditional financial core."

Construction costs for One York Street have been estimated at $375 million and Sun Life Financial will be a partner in the project in addition to being the anchor tenant. Upon opening, the new building will be called the Sun Life Financial Tower with highly-visible branding opportunities due to its prime location along the Gardiner Expressway and prominent position within the Toronto skyline. In addition, Sun Life Financial plans to retain its ownership interest at the 150 King Street West building.

About Sun Life Financial Inc.
Sun Life Financial Inc. is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers.  Sun Life Financial Inc. and its partners have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2013 the Sun Life Financial Inc. group of companies had total assets under management of $640 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars.

About Menkes
Menkes Developments Ltd. is a fully integrated real estate company involved in the construction, ownership and management of office, industrial and residential properties. Menkes was founded in 1954 by Murray Menkes, who initially carried on business as a developer of single family homes. Over the years, the company expanded significantly and branched out into other areas of real estate, and is now one of the largest private Canadian developers of residential, industrial and office properties. Menkes has developed a portfolio of high quality, strategically located industrial and office buildings in the GTA, including the Beaver Creek Business Park in Richmond Hill, the Procter & Gamble building and 5000 Yonge in North York, and 25 York Street (TELUS House) in downtown Toronto. For more information about Menkes, please visit menkes.com.

About the Healthcare of Ontario Pension Plan
Created in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is the pension plan of choice for Ontario's hospital and community-based healthcare sector with over 370 participating healthcare organizations. HOOPP's 270,000 members include nurses, medical technicians, food services staff and laundry workers, and many other people who work hard to provide valued Ontario healthcare services. HOOPP members and employers contribute to the defined benefit pension and HOOPP pays out more than $1.3 billion in pensions annually. The purpose of HOOPP's investment program is to pay pensions -- about 80 cents of every pension dollar paid out is generated by investment returns.

As a defined benefit plan, HOOPP provides eligible members with a retirement income based on a formula that takes into account a member's earnings history and length of service in the Plan. Once eligible members start receiving a pension, they receive it for life. HOOPP is governed by a Board of Trustees with representation from the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses' Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees' Union (OPSEU), and the Service Employees International Union (SEIU). The unique governance model provides representation from both management and workers in support of the long-term interests of the Plan.

HOOPP was named one of Canada's 10 Most Admired Corporate Cultures.

SOURCE Sun Life Financial Inc.

Image with caption: "Future home of the Sun Life Financial corporate headquarters, One York Street, Toronto, ON (CNW Group/Sun Life Financial Inc.)". Image available at: http://photos.newswire.ca/images/download/20140225_C6837_PHOTO_EN_37077.jpg

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...