GlobeOp Clients Mitigate Lehman Losses

Filed in archive Hedgetalk on October 16, 2008

In a HedgeCo story, hedge fund provider GlobeOp Financial Services S.A. published its Interim Management Statement covering the period since 30 June 2008. As a group, GlobeOp's clients appear to have out-performed the industry.

In the three months prior to Lehman Brothers insolvency, GlobeOp used GoCredit to identify and assess specific exposures. As a result, clients terminated or re-assigned over half of their Lehman Brothers positions, reducing their initial margin posted with Lehman by approximately $180 million.