JPMorgan sells $160B KC retirement plan operation

Great-West Lifeco U.S. Inc. has agreed to acquire Kansas City-based JPMorgan Retirement Plan Services LLC, which carries some $160 billion assets under administration and employs more than 1,000 people.

The move would create one of the largest operations in the nation, according to the Kansas City Business Journal.

The JPMorgan operation in Kansas City will be merged into Great-West Lifeco subsidiary Great-West Financial’s $220 billion operation, with the deal expected to close in the third quarter.

Read more from the Kansas City Business Journal.[[In-content Ad]]