Hedge fund administrator GlobeOp Financial Services (GFS) has hired Vernon Barback as President and Chief Operating Officer, effective from 1 March 2004.
Barback, 47, brings to GlobeOp over 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,” says 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, roll out new products, advance technology, and enhance customer service. After 11 September 2001, he also 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 spent 22 years at Bankers Trust/Deutsche Bank as Head of Operations, Europe, where he oversaw the Euro conversion and co-headed global integration during the acquisition by Deutsche Bank. Previous positions at Bankers Trust included leading 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.
Barback holds Bachelor of Arts and Master of Arts degrees in economics from Cambridge University, England.