More NewsGlobeOp to Provide Investment Management Outsourcing for Wells Fargo

GlobeOp to Provide Investment Management Outsourcing for Wells Fargo

GlobeOp Financial Services has been appointed to provide investment management operations outsourcing services for European Credit Management Limited (ECM), a specialist asset manager and subsidiary of Wells Fargo with approximately €12.1bn (US$15bn) in assets under management as of 31 May 2010.

GlobeOp, which has completed more than 300 fund conversions to its platform since 2006, will provide ECM with a broad range of investment operations services including trading support, pricing and valuation analysis, financial reporting and net asset value calculations. As a result of this mandate, approximately 40 London-based ECM employees plus some additional temporary staff will be transferred to GlobeOp on 1 July 2010. Integration of the lift out is anticipated to take nine to 12 months.

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