GlobeOp Dublin office strengthens European-domiciled hedge fund administration services

17 November 2008

GlobeOp Financial Services ("GlobeOp®"; LSE: GO.) is strengthening its European-domiciled hedge fund administration services following the licensing of its Dublin office by the Irish Financial Services Regulatory Authority. The office is led by Jim Casey, GlobeOp's global head of investor relations; an initial team of dedicated local professionals expands the company's existing fund administration network based in the Cayman Islands and the USA.

Vernon Barback, GlobeOp president and chief operating officer said: "The GlobeOp Ireland license allows us to directly service Irish domiciled funds and support European hedge fund clients and their investors with full fund administration services. This includes independent and transparent fund performance reporting. Basing our global investor relations leader in Dublin reflects the importance of this market to us and our commitment to ensuring services reflect the SAS 70 Type ll standards that are our benchmark."

Jim Casey commented: "Ireland is a strategically important administrative center for European domiciled funds. Despite market turbulence this past year, the European funds sector continues to develop its long-term potential. I look forward to building a Dublin team whose best practices further strengthen our fund administration services globally."

Services provided by GlobeOp's Dublin office include fund accounting and reporting - including independently derived net-asset-value (NAV) reports - share registry and transfer agency, and investor communications. Independently verified fund performance data, generated from data GlobeOp maintains for fund clients, is communicated to investors online via GoBook(tm), a web-based performance reporting tool.

On behalf of its clients, GlobeOp serves more than 14,000 investors globally. Earlier this year the company opened a new hurricane-proof office in Caymana Bay, Cayman Islands and appointed Gary Linford, former head of the Investment & Securities Division of the Cayman Islands Monetary Authority (CIMA), to its Cayman Islands subsidiary board.

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