Operations and issuance for mutual fund industry risk manager Constellation Financial Management are not expected to dramatically change following the announcement that it agreed to be acquired by French investment bank Société Générale for an undisclosed purchase price. Managing Director Joe D'Anna is expected to maintain his role and upper management is expected to be retained.
The new entity, tentatively named SG Constellation, "will continue to serve customers as before, only now we will have the expanded resources of a large financial institution behind us, said D'Anna. "The backing of Soc Gen gives us a balance sheet to work with, as well as a strong financial rating. Soc Gen sports senior unsecured ratings of 'Aa3' by Moody's Investors Service, 'AA-' by Standard & Poor's and 'AA-' by Fitch Ratings.