Ascensus and Empower Retirement completed the acquisition of the Recordkeeping Retirement Business of Truist.

Ascensus, an American financial services company, and Empower Retirement, a retirement services provider, completed the acquisition of the Recordkeeping Retirement Business of Truist, an American bank holding company. Financial terms were not disclosed. "Thanks to the Truist and Ascensus teams' highly collaborative efforts, we were able to successfully migrate all of the heritage BB&T plans to Ascensus over the course of this past weekend," Kevin Cox, Ascensus' Retirement line of business President.