The downsizing of Sun Life's Montreal office did not take place overnight. Transfers and moves occurred on a departmental basis and did not commence until several months after the announcement.
The transfer of Sun Life's Head Office from Montreal to Toronto is viewed by many to be the start of an exodus of corporate entities from Montreal, but Sun Life was not the first company to leave. Many companies had left long before Sun Life did, only on a much quieter, private basis.
There were several other key activities in the post-war years including the decision by Sun Life to leave many markets, including China and India, because of economic and political changes. In 1962, Sun Life became a mutual company and repurchased its shares for $65 million in total. In 1973, Sun Life opened its American subsidiary's new headquarters in Wellesley Hills, Massachusetts outside Boston.
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