| | Breaking News | | Great-West Acquires J.P. Morgan’s Recordkeeping Business | | Great-West has reached an agreement to acquire
the J.P. Morgan Retirement Plan Services large-market recordkeeping business,
which has $167 billion in plan assets across 200 plan sponsor clients serving
1.9 million participants. The acquisition was of interest to Great-West because
over the years, J.P. Morgan has built a great business in the large-plan
market, Robert L. Reynolds, president and chief executive officer of Great-West
Lifeco U.S., tells PLANSPONSOR. “This jump starts the whole business, bringing
us scale and a client base to truly build a world-class retirement plan
service.” Reynolds also notes the transaction is part of Great-West’s
commitment to expand its “expertise, talent and business scale” in the
retirement plan market. Upon the close of the deal, Great-West Financial’s
retirement services recordkeeping assets will increase to $387 billion and its
participant base to 6.8 million, making it second only to Fidelity Investments
in both categories in the DC recordkeeping business, according to the most
recent PLANSPONSOR Recordkeeping Survey. | | Share the good news with a friend! Pass the Dash along – and tell your
friends/associates they can sign up for their own copy. | | News from PLANSPONSOR.com
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