GlobeOp Financial Services (GFS), a provider of fund administration and related support services for hedge funds, fund of funds and high net worth family wealth offices, has announced that Vernon Barback will join the company as President and Chief Operating Officer effective March 1, 2004.
Barback, 47, brings to GlobeOp more than 25 years of experience in the capital markets, most recently as Global Head of Operations and Technology for Citigroup Asset Management.
“Vernon’s outstanding background in global operations management, business development and technology skills enhances our management team and underscores GlobeOp’s commitment to our clients as we continue to expand our business,” said Hans Hufschmid, Chairman and Chief Executive Officer. “This addition reflects our focus on providing solutions to the hedge fund industry in a fast-paced environment of technological, structural and regulatory change.”
In his four years at Citigroup Asset Management, Barback developed and implemented strategies to increase assets under management, improve operations, rollout new products, advance technology, and serve customers. After September 11, 2001, he led the disaster recovery at the principal recovery site when the operation’s head office at the World Trade Center was destroyed. Earlier, he served as Head of European Operations for Citigroup Asset Management.
Prior to Citigroup, Barback capped a 22-year career at Bankers Trust/Deutsche Bank as Head of Operations, Europe, where he oversaw the successful Euro conversion and co-headed global integration during the acquisition by Deutsche Bank. Previous positions at Bankers Trust included leading complex acquisition and operations integrations, leading the investment management fixed income division, serving as president of Japan Bankers Trust, and developing the firm’s first hedge funds business.