European Credit Management Ltd (ECM), a subsidiary of Wells Fargo, has appointed GlobeOp to provide investment management operations outsourcing services. GlobeOp will provide ECM with services including trading support, pricing and valuation analysis, financial reporting and NAV calculations. Approximately 40 London-based ECM employees will be transferred to GlobeOp, with integration anticipated to take up to a year.Founded in 1999, ECM has EUR12.1bn (USD15bn) in assets under management, invested in European corporate bonds, bank capital, European emerging markets, asset-backed securities and leveraged loans.
