LONDON and SAN FRANCISCO, March 17, 2009 - Advent Software, Inc (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that the total number of clients in the Middle East region has exceeded 30, further demonstrating its growth and commitment to developing a strong business presence in the region.
The clients are based in the major financial centers of the Middle East: Dubai, Abu Dhabi, Bahrain, Qatar, Kuwait, Riyadh and Cairo and are comprised of asset managers, wealth managers, private banks and family offices. The client list includes leading firms such as SHUAA Capital, Ahli United, NBK Capital, Dubai Group and Arab National Bank.
Demand for Advent’s integrated wealth management solution, which includes trading, compliance, portfolio management, client relationship management and research management has increased steadily in recent years as firms look to strengthen their operational infrastructures, achieve increased efficiencies, manage costs and improve client service.
“The Middle East has become a very important region for Advent over the last few years where we have seen a significant increase in the demand for our proven and reliable wealth management solutions,” said Hakan Valberg, Senior Vice President and General Manager of Advent Software EMEA. “Having a strong team of industry experts in Dubai that understands the local market has been a key factor in winning new business and developing strong relationships in the region. We look forward to further expansion in the Middle East and adding to our growing client list.”
Advent has had a client base in the Middle East for more than five years and established its Dubai office in 2006, which now includes local client support and sales teams and implementation consultants. The majority of the Dubai team is from the region, and all are experts in the field of investment management. Advent is also a member of the Dubai International Financial Centre (DIFC).
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX) is an end-to-end portfolio management solution that integrates the front-office functions of prospecting, marketing, and customer relationship management with the back-office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment. For more information on APX visit https://secure.advent.com/info/pr_apx.
Moxy® is the industry leading OMS deployed at over 850 firms which automates and streamlines the trading and order management process of partial and complete executions and allows the user to send allocation results to brokers electronically. Moxy® also provides Internet-ready electronic order routing based on the industry standard FIX messaging protocol, allowing users to route trades electronically to any FIX-compliant broker or crossing network that supports the internet or other TCP/IP connections. For more information on Moxy® visit https://secure.advent.com/info/pr_moxy.
About Tamale RMS®
Tamale RMS® is a software solution that helps portfolio managers and analysts easily capture, access and share their research, in order to manage investment ideas more effectively. Tamale RMS creates a research dashboard for portfolio managers and analysts that contains all of their research-related information, such as: notes, reports, financial models, contacts, calendar appointments and essential Web sites at their fingertips. It features an open, enabling platform that allows firms to build custom workflows to easily integrate both quantitative and qualitative information so that the investment research process is fully optimized. Tamale RMS organizes information around the workflow of each investment professional and provides features that optimize the research process. For more information on Tamale RMS® visit http://www.advent.com/solutions/hedge-funds-software/research-management.
Advent Software, Inc. (www.advent.com), a global company, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.
Any forward-looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include continued sales of existing products, market acceptance of new products, the impact of initiatives by competitors, potential fluctuations in results and future growth rates, changes in market and economic conditions and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2007 annual report on Form 10-K/A, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com.
The Advent logo, Advent Software, Advent Portfolio Exchange, Moxy and Tamale RMS are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.