Deals
JPMorgan Sells U.S. Pension Advisory Group to Pacific Life
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JPMorgan Chase & Co., the second-biggest U.S. bank by assets, sold its U.S. pension advisory group to Pacific Life Insurance Co. for an undisclosed price.
The unit, which is being renamed Pacific Global Advisors, will continue to be based in New York and led by David Oaten, Newport Beach, California-based Pacific Life said today in a statement. The group offers investment and risk-management services to companies, defined benefit pension plans, voluntary employees’ beneficiary associations, nuclear decommissioning trusts and institutional clients, according to the statement.