LONDON – December 5, 2005 – Advent Software, Inc., (NASDAQ: ADVS), a leading provider of global investment management solutions, is pleased to announce that Ahli United Bank B.S.C. (AUB) has selected Advent's Axys® portfolio management and client reporting solution. Bahrain-based Ahli United Bank (AUB), a commercial and investment banking group providing wealth management, retail, corporate, treasury, offshore and private banking services, is one of the largest banks in the Middle East, with approximately US$6 billion in assets under management. The group's businesses consist of operations in Bahrain, a wholly-owned subsidiary in the UK, and subsidiaries in Kuwait and Qatar.
"The aim of AUB Private Banking is to manage high net worth individuals' wealth as effectively as possible, which we achieve through excellent personalized customer service and by being in tune with each client's individual circumstances and requirements," explained Fawaz Baba, Group Deputy CEO - Private Banking & Wealth Management, Ahli United Bank.
"To facilitate customers' needs, AUB wanted to access account history and maintain consolidated reports from any location, which meant having a centralized system that could support AUB's extended network of branches across several countries," continued Mr. Baba. "With Advent's solutions, we can bring all holdings under one contact point, and it gives us high levels of flexibility in designing consolidated reports that show customers' entire portfolio. In addition, by linking AUB Private Banking systems under one profile, Advent's solution allows users to view entire portfolios and balances held on all accounts," said Mr Baba.
Axys® is a comprehensive and powerful portfolio management and reporting system that enables firms to easily manage an extensive range of investment instruments, resulting in efficiencies that allow them to grow their business without increasing overhead, and focus on differentiating their services.
"We are extremely pleased to be able to add Ahli United Bank to our growing client list in the Middle East," said Hakan Valberg, General Manager Advent EMEA. "We understand that the ability for investment managers to deliver a superior service to their own clients is essential in today's increasingly competitive market. This is an excellent example of how our products can support this need," continued Valberg.
About Ahli United Bank
Ahli United Bank B.S.C is a commercial and investment banking institution based in Bahrain providing wealth management, retail, corporate, treasury, offshore and private banking services. It is geared towards growth through the development of a larger client base in the Gulf states and through its close partnerships with customers, staff and product providers. The evolution of future mergers and acquisitions in the Gulf region remains central to the Bank's expansion strategy.
AUB has a 40 percent share in Ahli Bank Q.S.C (formerly known as Al-Ahli Bank of Qatar Q.S.C.), a commercial bank in Qatar with the second largest capital base following the 100 percent participation by AUB in its capital increase. AUB has a 10-year management contract with Ahli Bank Q.S.C.
AUB also has an effective holding of 75% of shares in the Bank of Kuwait in the Middle East.
AUB also entered into a joint venture in 2004 with Bank Melli Iran and Bank Saderat Iran to form Future Bank BSC (c), a joint venture commercial bank in the Kingdom of Bahrain, with an equal one-third shareholding.
AUB was also recognised by winning the "Bank of the Year in Bahrain" Bankers Award in 2004 for the second consecutive year by the Banker Magazine.
AUB's ordinary shares have been listed on the Bahrain Stock Exchange (BSE) since August 2000 and are actively traded. AUB's Class A preference shares are also listed at the BSE since 20 March 2005.
Advent Software, Inc., (www.advent.com) a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 50 countries using Advent technology manage investments totalling more than US $8 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.
ADVENT and AXYS are registered trademarks of Advent Software, Inc. or its subsidiaries. All other company names or marks mentioned herein are those of their respective owners.
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