Deals & People

Principal Buys Morley Financial

Principal Global Investors, LLC has announced a definitive agreement to acquire Morley Financial Services, Inc., a stable value asset manager with over $14.0 billion in institutional assets under management, from Nationwide Mutual Insurance Company.

UBS Launches New DC Initiatives

UBS Global Asset Management today announced the formation of the Defined Contribution and Retirement Solutions Group, established to help today’s defined contribution plans better meet the needs of tomorrow’s retirees.

Ceridian Reconsiders Acquisition

Ceridian Corp., which last month agreed to be bought by private equity firm Thomas H. Lee Partners and Fidelity National Financial Inc., said on Wednesday it would be prepared to consider other plans to be purchased.

Independent RK Group Formed

A new organization, called the Council of Independent 401(k) Recordkeepers (CIKR), has formed to educate and advocate on issues of relevance to independent 401(k) plan recordkeepers.

Ceridian to Go Private in Acquisition

Human resources outsourcer Ceridian Corp., under pressure from an activist hedge fund, agreed to be bought by private equity firm Thomas H. Lee Partners and Fidelity National Financial Inc.