Empower Retirement to acquire the retirement business of Prudential Financial for $3.55bn.

Empower Retirement, a retirement plan recordkeeper, agreed to acquire the retirement business of Prudential Financial, a financial services provider, for $3.55bn. “Empower and Prudential share a commitment to serving the financial needs of working Americans, their advisors and employers. This transaction will create an even stronger service organization at Empower, fueled by technology and the expertise of our deep talent pool,” Ed Murphy, Empower President and CEO.