LONDON and SAN FRANCISCO – November 8, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that in view of its expanding team, it has moved to a larger office in Dubai, within the precincts of the Dubai International Financial Centre (DIFC), of which Advent has been a member for the past five years. The new office space is a response to the growing demands from the Middle Eastern and North African markets and reinforces Advent’s commitment to the region.
“The Middle East is a very important market for Advent,” said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. “The opening of the new office is a milestone for us, as it demonstrates our expanding commitment to the Middle East and further strengthens Advent’s position as a leading global software and services provider. The combination of our industry-leading product suite and local knowledge and support infrastructure has led more than 30 firms in the region to choose Advent, making us the premier single solution vendor for investment management organizations in the region.”
With this growing, locally based team, Advent understands the local requirements and regional differences, speaks the local languages and provides support to all its clients in the region. The clients range from some of the largest investment management firms like Jadwa Investment, Emirates NBD, Shuaa Capital and ANBInvest to new entrants like United Financial House.
Commenting on Advent’s expansion of its operations in the Centre, Marwan Lutfi, Deputy CEO and Head of Business Development, DIFC Authority said: “We congratulate ?Advent on the growth of their business and are delighted to be in a position to be able to support them in this growth. ?Advent is one of several clients scaling up their operations in the Centre, which is a testimony of our successful strategy ?that is focused on working closely with our clients and facilitating doing business from the Centre.”?
Advent has been providing investment management solutions to asset managers, family offices and wealth managers in the region for over seven years. More than 30 clients are based across the region, from UAE, Qatar, Bahrain and Saudi Arabia to Egypt. The key to Advent’s success has been local presence and a deep understanding of regional investment management practices, combined with a world class technology solution covering portfolio and client relationship management, trade and fund order management, fund accounting and reporting and investment research management. Advent solutions turn the administration of investment management into an automated, transparent and accurate process that enables professionals to focus on their clients and their investment decisions.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 50 countries rely on Advent technology to run their mission-critical operations. 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 and services 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 difficulty in developing localized versions of products and marketing and distributing our products internationally, unfamiliar or evolving legal and regulatory requirements, difficulties in managing foreign operations and hiring qualified personnel, acceptance of existing and new products and enhancements, the impact of initiatives by competitors, continued uncertainties and fluctuations in the financial markets 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 2009 annual report on Form 10-K, 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.
Advent, the Advent logo, and Advent Software are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.
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Advent Software EMEA
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