10:54 AM EDT, 05/16/2024 (MT Newswires) -- (Updates with details throughout.)

Goldman Sachs' ( GS ) Goldman Sachs Asset Management unit said Thursday it will provide investment management services for United Parcel Service's ( UPS ) US and Canadian defined benefit pension plan assets.

The parcel-delivery company's North American pension plans have a combined $43.4 billion in assets as of March 31, Goldman said.

Goldman expects the UPS in-house investment management team to join its Atlanta office.

The company expects the asset management and team transition to Goldman to take place in Q3.

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