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NEWS - Great-West Financial Acquires J.P. Morgan Retirement Plan Services

April 3, 2014 – Greenwood Village, CO – Great-West Financial today announced it has reached an agreement to acquire the J.P. Morgan Retirement Plan Services large market recordkeeping business, making it the second-largest retirement services provider by participants in the U.S. defined contribution market. Terms of the transaction were not disclosed.

The J.P. Morgan Retirement Plan Services business comprises 200 clients with approximately 1.9 million participants and $167 billion in assets. It also includes the more than 1,000 personnel affiliated with J.P. Morgan Retirement Plan Services, including sales staff, consultant relations, relationship managers and client service specialists.

The transaction, which is expected to close during the third quarter pending regulatory approval, will increase Great-West Financial’s participant base to 6.8 million and its retirement services recordkeeping assets to $387 billion. In March, it was announced that the retirement business of Putnam Investments, which specializes in the large-plan corporate segment, will combine within Great-West Financial to serve the full breadth of the marketplace.

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