Defined contribution record-keeping firms Transamerica Retirement Services and its affiliate, Diversified, will be combined under the Transamerica name before Jan. 1, 2014, according to a statement from Transamerica.
As of Dec. 31, Diversified record-kept $51.6 billion in assets and Transamerica Retirement Services, $15.8 billion in assets.
Peter Kunkel, CEO of Diversified, will become president and CEO of the new Transamerica Retirement Solutions.
The two record keepers will continue to run independently until the combination has been completed.
Transamerica is a subsidiary of AEGON.