Great-West Financial on Tuesday said it had completed its purchase of the JPMorgan Retirement Plan Services operation based on the Sprint campus in Overland Park. Financial terms of the deal, first announced in April, were not disclosed.
The acquisition makes Great-West the second-largest recordkeeper of 401(k)-type retirement plans, with about 7 million participants and more than $400 billion in assets.
The former JPMorgan operation, earlier this year, had about 1,000 employees, mostly based here. Great-West, based in Greenwood Village, Colo., said it expects to announce several organizational and leadership moves related to the newly combined companies in the coming weeks.
Great-West is a division of the Canadian financial services firm Great-West Lifeco Inc.