JPMorgan Chase & Co., the largest U.S. lender, agreed to sell its large-market 401(k) recordkeeping business to a division of Canadian life insurer Great-West Lifeco Inc. Terms of the transaction weren’t disclosed.
Manulife Financial Corp., Canada’s largest benefits provider, and Sun Life Financial Inc. are among the nation’s insurers that have boosted revenue from money management as they shun variable annuities.
Ted Ligety berated himself about his half-second margin of victory when he crossed the finish line in the giant slalom to win the first Alpine skiing gold medal of the Sochi Games for the U.S. and a place in Olympic history.
President Barack Obama’s new retirement accounts lack the most popular features of 401(k) plans. They offer no matching contributions, no prospect for eye-popping returns and no track record of employer support.
Putnam Investments LLC, the Boston- based investment manager run by Robert Reynolds, eliminated 78 jobs, or 4.4 percent of its workforce, yesterday after clients pulled money from the company’s funds and assets shrank in 2011.
Tom Barrack’s Colony Capital LLC is teaming with two other single-family rental-home landlords to offer as much as $1 billion in loans to similar operators this year, said three people with knowledge of the agreement.