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GlobeOp Financial Services has entered into exclusive negotiations to provide front office support, and middle and back office services to the management company of a specialist asset manager with assets under management of over USD15bn, and to implement a lift-out of the management company's current in-house support infrastructure. The mandate does not include fund administration. The agreement is expected to become effective this summer, at which time approximately 50 employees will transfer from the management company to GlobeOp's employment. Further details of the agreement will be provided upon completion.
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