ATHENS – November 28, 2003 - Leading provider of investment management solutions, Advent Software Inc., announces that its Southern European operation, Advent Hellas S.A, has signed a technology partnership with the Bulgarian company TBI Asset Management, a member of the TBIH Group in Sofia. TBI Asset Management’s biggest clients include amongst others Bulgarian institutional investors such as Doverie and Bulstrad, which are respectively the largest pension and insurance companies in Bulgaria.
Strengthened Competitive Advantage
The Advent solution will accommodate TBI’s needs for Trading & Order Management with Pre- and Post Trade Compliance, as well as Portfolio Management and Client Reporting. “Our clients are institutional investors and individuals who need highly professional management of their money,” says Mr. Stoyan Toshev, CEO of TBI Asset Management. ”A strong focus on our clients’ needs and investment preferences enables our employees to offer flexible client service and expert advice. Our company is a market leader in the Bulgarian financial market, and the solution from Advent will allow us to strengthen our competitive advantage and offer sophisticated and highly professional client services.”
Modern Portfolio Management
“ We evaluated several solutions, both international and local ones. Not only does this solution correspond with our need for improved client services, by increasing efficiency of order management and performance reporting, but it also makes us compatible with international money management standards. Now, our future success will be based on modern portfolio management system with high quality trading operations and comprehensive reporting capabilities.” concludes Mr. Toshev.
First client in Bulgaria
“A few days ago, I was proud to announce our first client in Malta. Today, I am just as proud to announce that this is our first client in Bulgaria”, says Regional Director for Southern Europe, Makis Ioannou. “It has become clear to these firms, now more than 100 firms in Europe, that the scalability and top reporting capabilities that the Advent solution provides is key to become successful. This is our first Cyrillic language implementation. However, having implemented Advent’s solutions in more than 55 countries has proven that we can accommodate local operations’standards. Our clients also tend to achieve a high return on their investment.” Ioannou concludes.
Advent Hellas S.A. is a subsidiary of Advent Software, Inc. serving the Greek, Southern and Eastern European markets.
Advent Software, Inc. has been providing trusted solutions to the worlds' leading asset managers since 1983. Firms in 55 countries use Advent technology to manage investments totalling 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.
Advent Software, Inc. is located at 301 Brannan Street, San Francisco, CA 94107, telephone +1 415 543 7696, www.advent.com. Advent Software, Inc. is a registered trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
Anne Line Lande, Marketing Manager
Emilian Petrov, Head of Marketing
TBI Asset Management
+359 2 9375067