Press Releases - 2009
GlobeOp® Financial Services S.A. - Board changes
04 Mar 2009
("GlobeOp®" or "the Company")
GlobeOp Financial Services S.A., (LSE:GO.) announces that Clay Brendish will be stepping down as chairman of GlobeOp at GlobeOp’s forthcoming AGM on 27th April 2009, to pursue other business interests. Edward Annunziato, who is currently senior independent director of the board, will assume the role of chairman after the AGM. It is intended that one of the other independent non-executive directors will be appointed to succeed Mr Annunziato as senior independent director in due course.
Edward Annunziato is chairman of the Remuneration Committee and has served as a member of GlobeOp's Board since July 2004. Mr. Annunziato is currently a partner and head of financial services advisory at Tricorn Partners, an independent corporate finance and strategic advisory firm based in London, UK. He was the chairman and chief executive officer of Wit Soundview Europe Limited from April 2000 to March 2001. Before joining Wit Soundview, Mr. Annunziato served as managing director and co-head of European Investment Banking and head of International Mergers & Acquisitions at Merrill Lynch & Co. Mr. Annunziato previously practised law at Simpson Thacher & Bartlett in New York.
Clay Brendish commented, “I have enjoyed being a part of GlobeOp's tremendous development over the last two years. The need for hedge funds and investors to look seriously at operational risk and independent asset verification plays to our natural strengths and I have every confidence in the future of the company.”
Chief Executive Hans Hufschmid commented, “GlobeOp is very grateful for Clay’s valuable contribution to the company, particularly in helping us to become the only publicly listed hedge fund administrator. Clay has been a constant source of support and sound advice and we wish him well.”
Mr. Hufschmid added, “Ed Annunziato has been a leader on our Board over the last five years. He played a significant role in our IPO and was instrumental in designing a long term performance-based incentive compensation plan for senior executives that closely aligns their interests with those of our shareholders. Ed’s experience as a strategic advisor, manager and director in the financial services industry will be (in)valuable to GlobeOp as we face a period of unprecedented change and opportunity in our business.”
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For further information contact:
GlobeOp Financial Services
Andrea Dulberg
+1 914 670 3731
Giles Wynne Thomas
+44 (0) 20 7190 6707
Brunswick Group
Gill Ackers / Leonora Burtenshaw
+44 (0) 20 7404 5959