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.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.