GlobeOp Names Robert Schwartz as Chief Technology Officer


NEW YORK, March 2, 2005 (PRIMEZONE) -- GlobeOp(r) Financial Services (GFS(sm)), a leading provider of fund administration and related support services for hedge funds, fund of funds, and high net worth family wealth offices, today announced that Robert Schwartz has joined the company as chief technology officer, a new position. Additionally, Schwartz has been named to GlobeOp's operating committee.

"This appointment further strengthens GlobeOp's leadership resources and demonstrates our commitment to providing clients with our leading technology platform," said Vernon Barback, GFS president and chief operating officer. "We will benefit greatly from Bob's experience in developing cutting edge technology applications for trading, risk reporting and the processing of financial instruments on a global scale."

Schwartz brings to GlobeOp more than 20 years of experience in managing large global technology teams and projects, particularly for the financial services industry. He joins GlobeOp from Lehman Brothers, where he served as managing director for operations technology, chief technology officer, and senior vice president for derivative technology, among other positions. Previously, Schwartz worked for Bankers Trust, building that firm's derivatives technology environment.

Schwartz earned a bachelor of science degree in computer science from Stony Brook University. He serves as a member of the Board of Trustees of The New York Blood Center, the nation's largest non-profit community-based independent blood center.

About GlobeOp

GlobeOp Financial Services specializes in state-of-the-art 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 essential to the successful 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.

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. 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.



            

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