New York (HedgeCo.net) “When you start a new business you need a great idea, hard work and a little luck,” said Hans Hufschmid, CEO of GlobeOp. “GlobeOp launched at the beginning of one of the hedge fund industry’s fastest growth periods. Our own Wall Street backgrounds told us there was a significant need for a full service administrator that combined hedge fund expertise with technology leadership. A decade later, GlobeOp’s vision remains as strong as ever – to be the recognised leader in business process outsourcing, financial technology services and analytics to hedge funds and other targeted sectors of the financial services industry. We’ll continue to focus on quality client service, people, processes and technology as we further diversify into institutional market segments such as banks, endowments, insurance groups and pension funds. Enhancing operational efficiency while mitigating operational risk is a high priority for these organisations, and a core service expertise for GlobeOp.”
In its first decade, GlobeOp has grown from an 18-person organisation to a publicly-listed company with more than 1500 people in 10 offices across three continents, serving more than 190 clients representing 1,150 funds and $106 billion in assets under administration (AuA).
Industry rankings and awards that reflect GlobeOp’s growing sector leadership include its FinTech 100 ranking and selection as “European Hedge Fund Administrator of the Year 2009” by Funds Europe. In addition, the Stanford University Graduate School of Business chose GlobeOp for its first hedge fund administrator business case study.
Hufschmid believes clear opportunities are emerging from the new dynamics created by the economic and financial market turbulence of 2008-9.
“The final months of 2009 documented signs of a hedge fund sector in recovery, including the first wave of new fund start-ups since 2006,” he said. “These funds, and many established fund managers, are focusing on the opportunities present in distressed and complex strategies. To manage the operational and investor demands for transparent, daily valuation and risk reporting, they will look to partner with an independent administrator with comprehensive expertise and an integrated, global, scalable platform.”
