GlobeOp Financial Services (LSE:GO.), today announced the appointment of recognised risk management and credit risk model expert Dr. Stuart Turnbull as senior advisor to Risk Services.
Dr. Turnbull will report to Tony Glickman, global head of Risk Services and initially focus on aligning risk analytics for bank loans with those of credit default swaps (CDS) and corporate bonds. Work on new proprietary methodologies for credit risk instruments and for valuation in partnership with GlobeOp's OTC group will follow.
"Risk measurement, analytics and reporting are increasingly important to hedge funds and investors alike," said Tony Glickman. "This presents GlobeOp with significant opportunities, as risk modeling is a core expertise and client service. Our clients can look forward to Stuart adding additional depth, creativity and pragmatism to the development of new GlobeOp risk models. They will also benefit from his expertise in transitioning theory to practical, efficient implementation."
Dr. Stuart M. Turnbull is the Bauer Chair Professor of Finance at the Bauer College of Business at the University of Houston, TX. He has authored more than 50 academic papers on financial economics, law and economics topics, as well as two books on derivatives. With Robert Jarrow he introduced the reduced form approach for pricing credit-risky assets. This approach was later extended to consider counterparty risk and credit rating transition matrices in risk management and pricing, and to the practical difficulties of credit default swaps valuation. He currently serves as an associate editor of Mathematical Finance, the International Journal of Theoretical and Applied Finance and the Journal of Derivatives. Turnbull previously held executive positions in fixed income research at Lehman Brothers in New York and in risk management at the Canadian Imperial Bank of Commerce in Toronto, Ontario. He holds a Ph.D. in financial economics from the University of British Columbia, and an M.Sc. in statistics and operational research and a B.Sc. in physics from the Imperial College of Science and Technology in London, UK.
GlobeOp provides risk services to both fund managers and investors based on leading edge analytics, delivered via full ASP, on a standalone basis or fully integrated with GlobeOp's fund administration services. GlobeOp is listed on both the RiskTech 100 and FinTech 100 rankings of global risk and financial technology specialists.