A third case study by Stanford Universitys Graduate School of Business completes its chronicle of GlobeOp Financial Services (LSE:GO.) first decade.
The new chapter documents how GlobeOp grew as a market leader by responding to the changes and opportunities created by the financial turmoil of 2008-2009, Hans Hufschmid, chief executive officer of GlobeOp, says. With hedge fund clients and investors adjusting to new realities and relationships, we remained focused and nimble, balancing new service opportunities with client satisfaction and efficiency. We hope this latest installment stimulates classroom discussion about vision and strategy in the context of business evolution during challenging times.”
GlobeOp: The Financial Crisis and its Aftermath, 2008-2010 documents the companys proactive response to the financial turbulence of 2008-2009 through a series of exhibits.
The companys AuA rose from $88 billion in December 2008 to $109 billion in December 2009, an increase of 24%. From December 2009 to August 2010, GlobeOps AuA increased by $30 billion.
Using a 200-plus question survey, GlobeOp used a color-coded heat map to show how its more than 2,000 respondents viewed the company. The difference in the heat maps from 2007 to 2009 shows an increase in client satisfaction each year.
GlobeOps financial results showed a drop in total revenue from $185.2 billion in 2008 to $156.5 in 2009. With an increase in total operating expenses of about $30 billion from 2008 to 2009, the company saw a $6 billion profit loss in 2009.
Today GlobeOp employs about 1,900 people in 10 facilities on three continents, and serves more than 190 clients representing $174 billion in AuA.
The case study was supervised by Glenn Carroll, Laurence W. Lane professor of organizations in the Stanford Graduate School of Business and (by courtesy) professor of sociology in the School of Humanities and Sciences. It was written by David Hoyt, a Graduate School of Business researcher.
(CM)