NEW YORK and LONDON, June 13, 2005 (PRIMEZONE) -- GlobeOp Financial Services (GFSSM or GlobeOp(r)), a provider of fund administration and related support services for hedge funds, fund of funds, and high net worth family wealth offices, today announced that industry veteran Edward F. Condon has joined the company as director of business development for electronic marketplace initiatives. In this newly created position, Condon's primary duties are expected to involve building out GlobeOp's bridges to electronic trade execution platforms, trade booking, and additional outsource services that are linked to GlobeOp's processing business.
"With Ed on the team, GlobeOp will accelerate our ability to provide new services to our global customers, as well as create solutions that further differentiate our services offering," said Hans Hufschmid, GFS chairman and chief executive officer. "Ed's years of experience and expertise in exchange traded derivatives and electronic trading position GFS to pursue exciting new product initiatives and additional cost savings for our clients."
Condon brings to GlobeOp more than 25 years of experience in the capital markets. Most recently Ed's efforts have focused entirely on pooled clearing and settlement infrastructure, back office services, and electronic trading capabilities. Previously, Condon was managing director and the European head of Listed Derivatives at Credit Suisse First Boston, where he created and managed CSFB's European Listed Derivatives product. Prior to CSFB, he served JP Morgan Securities as vice president and senior listed derivatives sales manager and managed the firm's London exchange floor based futures trading operation. Condon's background includes management positions at Morgan Stanley Securities and Donaldson Lufkin and Jenrette.
Condon earned a master of business administration degree in international finance from Loyola University of Chicago and a bachelor of arts degree in psychology from the University of Notre Dame in Indiana.
About GlobeOp
GlobeOp Financial Services specializes in middle- and back-office support services and fund administration for hedge funds, fund managers and high net worth family wealth managers. GFS provides independent services supporting the operation of private investment entities with activities ranging across a wide spectrum of traded instruments. The firm's GlobeOp Risk subsidiary provides independent risk reporting and quantification to investors, creditors and managers. Company expertise is drawn from the senior levels of international banking and fund management and encompasses a wide range of relevant experience. More information about GFS can be found at www.globeop.com.
Statements made in connection with this news release that are not historical fact, such as forward-looking statements concerning future performance and growth, involve risk and uncertainties and are subject to various factors that could cause actual results to differ materially from those set forth in the forward-looking statements, including risks related to the success of our electronic market place initiatives and competitive factors. Any forward-looking statements represent the best judgment of GFS as of the date of this release. GFS disclaims any intent or obligation to update any forward-looking statements.
GlobeOp, GFS, www.globeop.com, and GlobeOp's "G" logo are trade and service marks of GlobeOp Financial Services and are used throughout the world. The GlobeOp service mark is registered in the United States and the European Union; the GFS trade and service mark is registered in the European Union; GlobeOp's "G" logo is registered in the European Union. In addition, all other content, trademarks, service marks, trade names, logos, and icons are proprietary to GlobeOp Financial Services, SA or its affiliates, licensors or agents. Nothing contained in this news release or on GlobeOp's Web site should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trade or service mark displayed in this news release or on GlobeOp's Web site without the written permission of GlobeOp Financial Services. Use of the trade and/or service marks displayed in this news release or on GlobeOp's Web site, or any other content found in this news release or found on GlobeOp's Web site, except as provided herein, is strictly prohibited. All other products or company names herein may be trade and/or service marks of their respective owners.