San Francisco, CA, April 23, 2002 - Advent Software, Inc. (Nasdaq: ADVS) announces that Union Bank of California, N.A. (UBOC) has joined Advent TrustedNetwork®. As an account provider, UBOC will contribute account data to the network to help clients and investment advisors better manage multi-custodied assets.
Advent TrustedNetwork is a data service that collects account data from a variety of participating financial institutions, enabling financial advisors to deliver consolidated, online account information to their clients, regardless of where those accounts are custodied. Advent TrustedNetwork uses a secure, scalable infrastructure to transfer system-of-record information directly from the back office accounting systems of the world’s largest and most respected custodians.
“Advent TrustedNetwork complements our robust array of solution-oriented product offerings,” said Greg King, Senior Vice President of Institutional Services Management at UBOC. “We believe this will benefit not only select UBOC client groups, but further extend our partnerships with investment advisors to jointly support mutual clients.”
“Advent is committed to growing Advent TrustedNetwork. It’s a unique solution in the industry for firms that require high-level investment data,” said Brian Bailard, Vice President of Advent’s Wealth Management Solutions Group. “We’re extremely pleased to have Union Bank of California on board.”
Advent Software, Inc. has been providing trusted solutions to the world’s leading professional money managers since 1983. Firms in 45 countries use Advent technology to manage investments totaling more than US $8 trillion. Advent’s quality software, data, services and tools enable managers to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent’s common stock is traded on the NASDAQ National Market under the symbol ADVS.
About Union Bank of California
Based in San Francisco, UnionBanCal Corporation is a bank holding company with assets of $36.0 billion at December 31, 2001. Its primary subsidiary is Union Bank of California, N.A., (UBOC) is the third largest commercial bank in California. UBOC’s Institutional Services & Asset Management Division has more than $140 billion in assets under administration servicing the institutional custody, employee benefit trust and corporate trust markets.
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