SG acquires Constellation Financial Management
01 July 2003 | 2796 views | 0
Société Générale has acquired the proprietary technology and client contracts of Constellation Financial Management, a US asset manager and supplier of risk management software to the investment funds industry.
Under the agreement, SG's US corporate and investment banking arm will take on Constellation's 50 employees in a new company, SG Constellation. Constellation's client contracts and other assets have been acquired from investment partnership FEP Holdings.
Jacques Bouhet, deputy CEO of SG corporate and investment banking and CEO of the US business says the acquisition complements the French bank's potrfolio of services for large US fund managers, and offers numerous cross-selling opportunities.
The Constellation software is used by fund mangers to model and hedge against variations in performance-related management fees.