Manulife Financial Corp. announced Tuesday it has completed itsacquisition of New York Life’s retirement business.
The acquisition, which was previously announced, will becombined with John Hancock Retirement Plan Services. The addedbusiness boosts the retirement plan assets under administration bythe firm by approximately 60 percent, to $135 billion.
The combined business will be headed by Peter Gordon, who is CEOof JHRPS. That means it now serves 55,000 retirement plans and 2.5million plan participants.
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