UK - Threadneedle has agreed to acquire Invesco Perpetual's defined contribution (DC) business for £470m (US$929m).
Ian Trevers, head of distribution, Invesco Perpetual, said: "It provides our clients access to a greater range of funds on the Threadneedle platform, access to additional services on-line and will allow Threadneedle's clients access to our investment capability."
Threadneedle has promoted Rita Butler-Jones to head of DC, to replace Emma Douglas who moved to BlackRock in the summer of 2007.
Madeline Forrester, head of distribution, Threadneedle, said: "With DC pensions set to dominate future pension provision, we look forward to playing a key role in the sector's development."
The deal would give clients access to a broader range of funds, improved systems and member communication, according to both parties.
In 2004, Invesco opted to sell its bundled DC platform to focus on fund management.
Here it is... The video of all the highlights from last night's UK Pensions Awards.
Here they are...all the pictures from the UK Pensions Awards 2019.
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.