SAN FRANCISCO – February 5, 2008 – Advent Software, Inc., (NASDAQ: ADVS), the leading provider of software and solutions for the global investment management industry, today announced that Bear Stearns Prime Brokerage Services has licensed Geneva®, Advent’s award-winning portfolio management and fund accounting solution to support their global operations.
Bear Stearns, a leader in prime brokerage services, has been providing its customers with innovative capabilities and outstanding service for over 25 years. Clients include many of the leading global hedge fund managers representing a diverse range of strategies.
“We were looking to enhance our portfolio reporting and accounting capabilities to support the complex investment strategies of our global hedge fund clients on a 24/7 basis,” said Louis Lebedin, Global Head of Bear Stearns Prime Brokerage Services. “Our decision to choose Advent’s Geneva® was based on its ability to provide Bear Stearns with a single scalable platform that would support all asset classes regardless of the mix of derivative, equity, future, fixed income, FX or cash instruments.”
“Bear Stearns is a clear leader in the investment community and we are very excited to add its prime brokerage business to Geneva®’s expanding client base,” said Chris Momsen, Vice President of Sales and Marketing and Co-Head of Global Accounts for Advent. “We look forward to a long-term and mutually beneficial relationship with Bear Stearns as we continue to invest in and develop Geneva® in the years to come.”
With more than 100 clients worldwide, Geneva® customers include eight of the top ten global prime brokers, eight of the top ten fund administrators, 15 of the largest hedge funds, and many of the world’s largest and most prestigious investment managers.
Geneva®, an award-winning global investment management and accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and mutual funds that require a high level of operational efficiency and easy access to real time data. Geneva® offers comprehensive instrument coverage, full financial general ledger, and industry-standard integration tools that enable firms to manage complex investment vehicles, multiple investment strategies, and tiered fund structures.
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $18 trillion. 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.
Advent and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.