JPMorgan Chase has sold a retirement plan services business unit in Overland Park, Kan., to Great-West Financial in Greenwood Village, Colo.

A spokeswoman for the $2.5 trillion-asset JPMorgan Chase told American Banker in an email that the sale of its large-market recordkeeping business was "in the best interest" of the former unit's "large- and mega-plan clients and employees, providing continuity of service while leveraging the scale, capabilities and resources of a firm committed to excellence in recordkeeping and plan administration."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.