GlobeOp Financial Services has appointed Tim Ridley, the former chairman of the Cayman Island Monetary Authority, to its Cayman Islands subsidiary board.
Ridley, who served as CIMA chairman from 2004-2008, was also a former senior partner of Maples and Calder. He replaces Gary Linford, who recently resigned his post on the GlobeOp Cayman board.
“Demand for greater hedge fund transparency and governance is increasing,” said Vernon Barback, GlobeOp president and chief operating officer, in a statement. “Tim Ridley’s legal, financial and regulatory expertise will be a benefit to GlobeOp and its clients. We look forward to his contributions as we focus on independent valuation, regulatory and board reporting. I would also like to thank Gary Linford for his contributions to GlobeOp—particularly related to Cayman regulatory updates—since his appointment to the board in 2008.”
GlobeOp’s Grand Cayman office provides registry office, transfer agency and investor relations services and board meeting support to Cayman-domiciled hedge funds.
TPG Capital recently agreed to buy the London-based GlobeOp Financial Services for £508 million (US$800 million).