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Great-West Financial, the second largest retirement services provider in the U.S. market with nearly 7 million defined contribution participants and more than $400 billion in plan assets, today announced that its retirement business will officially be named "Empower,"

Murphy, who has held a series of top executive roles in his 30-year industry career and was most recently Head of Defined Contribution at Putnam, is assuming leadership of the second largest provider in the U.S.

Great-West Lifeco's U.S. subsidiary announces agreement to acquire J.P. Morgan Retirement Plan Services