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PrintSep 05, 2006
IMMEDIATE RELEASE
JPMorgan Retirement Plan Services to Acquire CCA Strategies LLC
New York – September 5, 2006– JPMorgan Retirement Plan Services today announced it has entered into a definitive agreement to acquire Chicago-based CCA Strategies LLC (“CCA”) and its affiliates. CCA Strategies LLC is a leading employee benefits and compensation consulting firm with a reputation for delivering innovative solutions and producing exceptional results for its clients. The transaction is expected to close within the next 90 days. Specific terms of the transaction were not disclosed.
CCA’s expertise in actuarial consulting and administration will enhance JPMorgan’s retirement solutions offering to include defined benefit plan design and administration across the range of plan sponsors, from sole proprietors to mega plans. CCA will also add important consulting strength beyond retirement, with well-established and forward-thinking practices in executive compensation and health care.“This transaction is in line with our overall strategy for growth and innovation,” said Eve Guernsey, CEO JPMorgan Asset Management Americas. “The financial future is being shaped by the retirement needs of the baby boomer generation. The addition of CCA strengthens our firm’s ability to help individual and corporate clients meet these challenges.”
“This transaction gives CCA a wider audience for the innovative solutions we have developed for defined benefit plan sponsors,” said Tom Terry, Co-Founder and President, CCA Strategies LLC. “The unique blend of talent in our combined business will enable us to make a positive difference in addressing the serious human resources and retirement issues facing America today.”
“CCA’s innovative technical solutions and talented staff set them apart from all other defined benefit consultants,” said Tom Kmak, CEO, JPMorgan Retirement Plan Services. “We share a passion for helping clients’ employees prepare for the 30-plus years of their retirement. I’m very excited about working with Tom Terry and his team to build our business and further develop our capabilities as a full-service provider in the retirement plan services industry.”
About JPMorgan Retirement Plan Services
JPMorgan Retirement Plan Services provides bundled defined contribution services and administers investment options to close to 200 corporate clients, representing more than one million retirement plan participants. The business administers plan assets close to $90 billion as of July 31, 2006. Through a direct offering and alliances with other best-in-class providers, JPMorgan Retirement Plan Services integrates services for defined contribution, defined benefit, deferred compensation and stock-based compensation plans. Headquartered in Kansas City, MO, JPMorgan Retirement Plan Services employs more than 800 people and is a subsidiary of JPMorgan Chase.
About CCA Strategies LLC
CCA Strategies LLC is a leading provider of retirement, health and compensation plan consulting services. Established in 1991, the firm has 200 employees and locations in: Atlanta, Boston, Chicago, Dallas, Denver, Jacksonville, Los Angeles, New York, San Francisco and St. Louis. The firm’s headquarters are based in Chicago. CCA Strategies LLC provides retirement services, health and welfare services, compensation services, corporate services and an array of actuarial products to more than 230 clients.
About JPMorgan Asset Management
JPMorgan Asset Management is a leading global investment manager delivering financial expertise and solutions to corporations, governments, municipalities, endowments, foundations and individuals worldwide. With more than $1 trillion* in assets under management, our business provides a broad spectrum of U.S., international and global investment management products-- from equity, cash management, fixed income, real estate and asset allocation to alternative asset classes such as private equity and hedge funds. Through JPMorgan Retirement Plan Services, we offer administrative, investment and communication services for corporate retirement plans. Our global resources position us to deliver excellence in investment performance and the highest quality client service.
* As of December 31, 2006
For further information, please contact:
Jackie Meere
Media Relations
Telephone: 212-648 -1798
Email: jacqueline.meere@jpmorgan.com
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