Empower Retirement completed the acquisition of a full-service retirement business of Prudential Financial for $3.55bn.

Empower Retirement, a retirement plan recordkeeping financial holding company, completed the acquisition of a full-service retirement business of Prudential Financial, a global financial services provider, for $3.55bn. “This transaction broadens our ability to serve the financial needs of working Americans, their advisors and employers. This transaction will create an even stronger service organization at Empower, expands our product offerings and the deepens the expertise of our talent pool,” Edmund F. Murphy III, Empower President and CEO.