UK - Custody giant JPMorgan Chase has acquired Citicorp Electronic Financial Services for $380m (£221.6m).
CEFS – which is part of financial services giant Citigroup – is a provider of government issued benefits payments.
JPMorgan expects to complete the acquisition during the fourth quarter. Executive vice-president Lori Hricik said: “This acquisition is an extension of our existing core cash management and payments business.”
In this week's Pensions Buzz, we want to know whether you think a contract-based, trust-based or a master trust arrangement would be best for a new defined contribution scheme.
The £28bn Brunel Pension Partnership has opened a tender for active equity managers to oversee around £1.8bn of the pool's assets.
RPMI Railpen has injected £7m of new equity into full-fibre internet service provider, Community Fibre.
The Pensions Regulator (TPR) is to prosecute Samuel Smith Old Brewery and chairman Humphrey Smith for failing to provide information and documents for an ongoing investigation.