Pacific Life Acquires Pension Advisory Business

Pacific Life Insurance Company has acquired the U.S. pension advisory group from JPMorgan Chase & Company.

The advisory group, formerly part of the investment bank at JPMorgan Chase, New York, provides investment and risk management services for corporations, defined benefit pension plans, voluntary employees’ beneficiary associations, nuclear decommissioning trusts, and other institutional investors.

Pacific Life, Newport Beach, Calif., is not saying how much it is paying for the unit.

The name of the unit will change to Pacific Global Advisors, but the offices will stay in New York, and the manager will continue to be David Oaten, Pacific Life says.