GlobeOp Offers Hedge Funds Full Advent Geneva Hosting & Conversion Support
NEW YORK, LONDON – 04 NOVEMBER 2009 – GlobeOp has launched hosted services for Geneva, Advent’s award-winning portfolio management and fund accounting solution, offering hedge funds a scalable, proven outsourcing solution that can reduce both fund time to market and execution risks.
Customized hosted and full platform conversion services are available on a standalone basis or integrated within GlobeOp’s middle- and back-office, fund administration and managed services packages.
“GlobeOp is uniquely positioned to support hedge fund managers seeking a hosted Geneva solution as an alternative to building and maintaining their own IT infrastructure,” said Ron Tannenbaum, GlobeOp co-founder. “As one of Advent’s largest single customers, GlobeOp deploys significant in-house technical expertise to support one of the largest Geneva databases outside Advent. We produce more than 25,000 daily Geneva reports for our clients. In addition, GlobeOp has completed more than 200 conversions from a broad range of systems to Advent Geneva– including an $8 billion client.”
GlobeOp’s hosted Geneva services enable clients to outsource systems infrastructure, tasks and personnel requirements while reducing operational costs and risk. Data center facilities and hardware monitoring are provided within GlobeOp’s two active-active, SAS 70 Type ll-environment data centers. Hosted service packages can be customized to respond to a range of business requirements. GlobeOp offers a flexible service model that can include system conversions, hosting, security master maintenance, position valuations, reporting, on-site support, disaster recovery and reconciliation to fund administrators, prime brokers and counterparties.
GlobeOp’s experience converting hedge funds to Geneva creates a comprehensive hosted solution for leveraging Geneva benefits that include real-time investment portfolio views, customizable and flexible reporting tools, extensive investment coverage, and improved operational structure and cost management.
“Geneva is the gold standard for hedge fund and alternative investment accounting,” said Tom Zdon, vice president of Business Development at Advent. “This exciting new strategic relationship with GlobeOp increases the potential for firms of all sizes and strategies to leverage Geneva to improve their operations, reduce risk, and increase top line revenue. Geneva is ideally suited for delivery in a hosted environment, offering clients lower implementation risk, faster conversion times, and reduced need to manage technology and integration in-house.”
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Notes to Editors
About GlobeOp Financial Services
GlobeOp Financial Services (LSE:GO.) is a leading, independent financial technology specialist providing automated, integrated middle- and back-office, administration and risk reporting services to hedge funds and asset management firms-including banks, insurance companies, mutual & pension funds and proprietary traders. Clients trading a wide range of asset classes and derivatives outsource to GlobeOp to reduce technology investments and operational risks, and to focus resources on asset generation and portfolio management. Established in 2000, GlobeOp serves over 180 clients worldwide, representing $100 billion in assets under administration (AuA).With headquarters in London and New York, GlobeOp employs more than 1,500 people on three continents; offices are also located in Dublin, Ireland; George Town, Cayman Islands; Harrison and Yorktown Heights, NY and Hartford, CT, U.S.A.; and Mumbai (Bombay), India. Further information: www.globeop.com
About Geneva
Geneva, a global investment management and accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and mutual funds that require a high level of operational efficiency and easy access to real time data. Geneva offers comprehensive instrument coverage, full financial general ledger, and industry-standard integration tools to enable firms to manage complex investment vehicles, multiple investment strategies, and tiered fund structures. For more information on Geneva visit https://secure.advent.com/info/pr_geneva.
About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in 60 countries rely on Advent technology to run their mission-critical operations. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.
© 2009 - GlobeOp Financial Services LLC (GlobeOp). All rights reserved. GlobeOp and the GlobeOp “G” are trade and service marks of GlobeOp and its affiliates
Media Contacts
GlobeOp Financial Services
Natalie Shamshoum
Team 660, Metia
+44 20 3100 3655
natalie.shamshoum@metia.com
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