Monday, July 17, 2006
Great-West Buys MetLife Unit
Employees who work for a unit of MetLife in south St. Louis County will soon have a new boss.
Great-West Life & Annuity Insurance Co. of Denver announced it was acquiring MetLife Inc.'s management and service work for small and mid-sized 401(k) benefit plans.
The business is made up of 2,600 plan clients who represent about 300,000 participants, according to the companies. Those participants hold about $7.5 billion in retirement plan assets. The St. Louis operations are based in part of a facility in south St. Louis County at 13045 Tesson Ferry Road, a center that covers more than 500,000 square feet. The sale would expand Great-West's presence here where the company now has 700 employees at the south county facility.
Great-West Buys MetLife Unit
Source: St. Louis Business Journal
Great-West Life & Annuity Insurance Co. of Denver announced it was acquiring MetLife Inc.'s management and service work for small and mid-sized 401(k) benefit plans.
The business is made up of 2,600 plan clients who represent about 300,000 participants, according to the companies. Those participants hold about $7.5 billion in retirement plan assets. The St. Louis operations are based in part of a facility in south St. Louis County at 13045 Tesson Ferry Road, a center that covers more than 500,000 square feet. The sale would expand Great-West's presence here where the company now has 700 employees at the south county facility.
Great-West Buys MetLife Unit
Source: St. Louis Business Journal
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