MFS leader to chair UMass board

Robert J. Manning was elected chairman of the University of Massachusetts board of trustees at a meeting today, confirmed spokesman Robert P. Connolly. The board oversees the university’s $350 million endowment. Mr. Manning is replacing Stephen P. Tocco, who resigned as chairman. Mr. Manning is CEO, president and CIO of MFS Investment Management, which had $204 billion in assets under management as of Sept. 30.