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Conning takes over DFA Capital Management

Conning, an asset management firm for the insurance industry, has acquired the assets of DFA Capital Management (DFA), a risk management software and provider of economic scenario generation for the insurance and financial services industries.

With the acquisition, Conning’s information technology resources will expand its services with the addition of DFA’s management team, staff, and Advise and Gems software suites.

DFA Capital Management co-founder, chairman and president Markus Rohrbasser said ioining Conning gives access to additional distribution channels, and the resources to invest in the technology platform and this transaction will present, in both North America and Europe, as well as with Conning’s existing client base.

Conning has named Rohrbasser as new head of European Strategy and business development, a newly created position. He will be responsible for expanding Conning’s presence in key European markets.

David Weiss, chief technology officer and co-founder of DFA Capital Management, has been named chief technology officer, also a newly created position at Conning.

Richard Urbach, EVP Quantitative Finance of DFA Capital Management, has also been appointed as managing director responsible for the development of economic and financial modeling software.

Conning CEO Salvatore Correnti said the addition of DFA’s capabilities follows the recent launch of new web portal that provides clients with daily on-line access to the suite of service offerings and in particular, new security level portfolio analysis and simulation tools.