Press Releases - 2007

GlobeOp Financial Services to appoint Arun Seth to board

06 Dec 2007

LONDON, ENGLAND; NEW YORK, NY, USA – 6 DECEMBER, 2007 -- Arun Seth, chairman of BT India, will join the Board of GlobeOp Financial Services ® S.A. ("GlobeOp" or "the company"; LSE:GO.) as an independent non-executive director. His appointment takes effect January 1, 2008 at which time Brian Conway, Managing Director, TA Associates steps down, having served on the GlobeOp board since 2003. This ensures the company is fully compliant with the Combined Code on Corporate Governance and in line with the commitment given in its IPO prospectus.

Seth brings to GlobeOp more than 30 years of commercial and technical sector expertise and an in-depth knowledge of the IT industry in India. For 13 years he has been a key driver in establishing British Telecom as a leading telecoms company in India, with responsibility for operations at BT Group India and leading BT's corporate social responsibility activity. Prior to joining BT in 1995, Seth served as senior vice president in the corporate management division of the UB Group , India’s leading brewing and spirits group , based in Bangalore and Delhi. His other corporate board memberships include Tech Mahindra, India's sixth largest IT services company listed and Acme Telepower, a privately-owned provider of energy management solutions in India. With a special interest in education and charity, he also serves on the boards of NASSCOM (India’s IT Services Association), the Indian Institute of Management Lucknow and HelpAge India, the leading national charity for the elderly. He previously served on the board of trustees of Help the Aged and HelpAge International in London.

Commenting on the appointment, Clay Brendish, chairman of GlobeOp, said: "We welcome Arun's extensive technology sector experience and Indian business network access to the Board. GlobeOp is an established leader in business process outsourcing in financial services sector and more than 1000 of the company's 1600 employees are based in India. We look forward to Arun's contributions to the company's strategy of maximizing the talent and opportunities India offers long-term. We would also like to thank Brian Conway for his services to the board and contributions in shaping the company's strategy and development in the past four years. GlobeOp values TA’s continuing contribution through the participation of Jonathan Meeks."

Arun Seth said: "GlobeOp's steady growth and recent public listing is a clear signal of continued evolution and sector leadership. I look forward to the opportunity of working with the Board and leadership team of GlobeOp as they continue to innovate and realize the company's full potential."

Seth's appointment follows those of Clay Brendish as the independent non-executive chairman and David Gelber as an independent non-executive director in June 2007.

Arun Seth is also a Director on the Board of Tech Mahindra Limited, listed on the Bombay Stock Exchange in India, a position he has held since 2005. There is no further information to be disclosed under 9.6.13.of the Listing Rules of the Financial Services Authority in connection with Arun Seth’s appointment.

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Notes to Editors — About GlobeOp
GlobeOp Financial Services ® (LSE:GO.) is a leading, independent financial technology specialist providing automated, integrated middle and back-office, administration and risk reporting services to hedge funds and asset management firms—including banks, insurance companies, mutual & pension funds and proprietary traders. Clients trading a wide range of asset classes and derivatives outsource to GlobeOp to reduce technology investments and operational risks, and to focus resources on asset generation and portfolio management. Established in 2000, GlobeOp today serves more than 150 clients worldwide, representing $85 billion in assets under management (AuM). With headquarters in London and New York, GlobeOp employs more than 1,600 people on three continents; offices are also located in Dublin, Ireland; George Town, Cayman Islands; Harrison, NY and Hartford, CT, U.S.A.; and Mumbai (Bombay), India. Further information: www.globeop.com 

For further information, please contact:

Brunswick Group

London – Gill Ackers, Leonora Pou Tel: +44 (0) 20 7404 5959
GoTeam@brunswickgroup.com

Edelman

India - Tel: (+91) 22 2281 0168 -72
Ophira Samuel-Bhatia Mobile : (+91) 98202 20116
Melanie D'Sa Mobile : (+91) 98920 77534
ophira.samuel@edelman.com melanie.dsa@edelman.com

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995
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. Although GlobeOp believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, such as competition, loss of clients or a reduction in business received from clients, failure to retain key management and employees, success of new services, reputational harm, disruption of crucial computer and communications systems, regulation, pending, threatened or future legal proceedings, general economic conditions and other factors, including those impacting the hedge fund industry generally, such as changes in the market environment, decreased growth rates and industry consolidation, could cause actual results to differ materially from GlobeOp’s expectations. Any forward-looking statements represent the best judgment of GlobeOp as of the date of this release. GlobeOp 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 LLC or its affiliates. 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. All other products or company names herein may be trade and/or service marks of their respective owners.