Michael Derwael, Head of Office for MFS Luxembourg, Senior Director - Independent Risk; Credit: © 2024 MFS Investment Management

On Wednesday 14 February 2024, MFS Investment Management announced that while retaining his current responsibilities, Michael Derwael, Senior Director - Independent Risk, will become Head of Office for MFS Luxembourg.

The appointment is effective 1 January 2024. Michael takes over from Lina Medeiros, who is also president of MFS International Ltd. She will retire from MFS in April 2024 after a 26-year career. 

Michael joined MFS in 2019 and has over 20 years' experience in the financial industry. Prior to joining the firm, he helped to build up risk practices at Lombard Odier Investment Managers, Luxcellence, Amundi and Quintet. Michael is an ALRiM board member, co-chair of the ALFI Liquidity Risks working group and a founding member of the Global Fund Risk (GFR) certification. He is an adjunct professor at the University of Luxembourg, trainer at House of Training and holds the FRM, CEFA and GFR certifications.

He will be based in MFS' Luxembourg office, which is a hub that facilitates the distribution of MFS products throughout Europe and other non-US markets. MFS noted how the firm has invested in the growth and success of the Luxembourg hub in recent years, strengthening its governance around the executive team and emphasising local substance. It has also expanded its expert independent risk management team, which monitors investment and distribution risks as well as strengthening its compliance programme.

Commenting on Michael's appointment, Jon Aliber, member of the MFS Management Committee, said: "I'm delighted that Michael is stepping into the role of Head of Office for Luxembourg. He is an integral part of the Luxembourg management team and familiar with the local marketplace and best practices. His extensive knowledge and wealth of experience will be instrumental in keeping the office running smoothly and efficiently."

"At the same time, I would like to thank Lina Medeiros for her significant contribution to MFS and the Luxembourg office," he added.

Michael Derwael stated: "It's an honour to be appointed Head of Office for MFS Luxembourg, especially as the firm turns 100 and the industry celebrates a century of asset management. Luxembourg has played a key role in the development of the cross-border fund industry and is the second largest fund centre in the world. It is recognised globally for its innovation and expertise in servicing a wide range of asset management clients from around the world. I'm committed to seeking the best outcomes for the team, the company and most important, our clients."