He will take over from Michael Roberge, who is set to assume the role of executive chair after nearly seven years leading the company.
Effective from 1 January 2025, Maloney will be responsible for the strategic direction and vision of MFS, leading a team of investment, distribution, finance, human resources, legal and technology functions.
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He has served as chief investment officer since 2019, alongside his role of global director of research. He joined MFS in 2005 as an equity research analyst and took on a number of roles over the years, including director of US equity research and co-manager of diversified portfolios.
The firm said Maloney has established a "strong" leadership team of co-CIOs across equity and fixed income disciplines, mentored investment colleagues and played a "key role" in driving greater diversity and inclusion across the investment division.
"Having worked with Ted for nearly two decades, I have seen firsthand the profound impact that his leadership has had on the firm and our clients worldwide and know he is the best person to lead MFS forward," said Roberge.
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He said his appointment is the "culmination of many years of leadership planning" and is consistent with MFS' long-term approach to executive transitions.
"As MFS approaches its centennial anniversary in 2024, I cannot help but think about the next century ahead," he added.
"While there is no telling exactly what will come, I am certain that Ted and future generations of MFS leaders will continue to serve with purpose and conviction to create value responsibly on behalf of our clients."