MassMutual is considering selling its retirement plan business, according to a news report Friday by Reuters.
The Massachusetts-based financial services company administers about $175 billion in retirement plan assets, according to the report. MassMutual “no longer considers the capital-intensive servicing of retirement plans core to its business,” the Reuters report noted, citing unnamed sources.
The sources cited by Reuters pegged a possible sale price of about $2 billion.
The explored sale comes less than two years after MassMutual offloaded its OppenheimerFunds investment management business, which it sold to Invesco for $5.7 billion.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
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