Great-West Financial has completed its acquisition of J.P. Morgan Retirement Plan Service's large-market recordkeeping business.
The acquisition makes Great-West the second largest provider in the U.S. defined contribution market, serving nearly 7 million participants. It will now maintain the records of more than $400 billion in retirement assets.
"Today marks an important day in our quest to create the foremost provider of retirement services to the U.S. marketplace," Robert Reynolds, president and CEO of Great-West Financial, said in a statement.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
