San Francisco, April 11, 2000 - Oppenheimer Capital and PIMCO Equity Advisors, divisions of PIMCO Advisors, the third largest publicly traded investment management company in the U.S., have chosen Advent Software's (Nasdaq: ADVS) Advent Office™ solution for enterprise investment management.
The two companies, which share back office operations and have approximately $60 billion under management combined, have licensed Advent Office’s portfolio management, browser reporting, contact management, reconciliation and custodial data interface components. Advent Office will replace Thomson Investment Management’s Portia system and Saratoga Systems’ CRM solution.
"We were determined to find a technology solution that would integrate all of our portfolio management functions in a seamless manner, letting us focus on our business, not on the technology," said Ken Poovey, Chief Executive Officer of Oppenheimer Capital and PIMCO Equity Advisors. "Advent was able to deliver an integrated solution for all of our current technology needs, and can scale to meet our needs as we continue to grow."
"We’re extremely excited to be working with Oppenheimer Capital and PIMCO Equity Advisors, and are confident that Advent Office is the right straight-through processing solution for their needs," said Peter Caswell, President and Chief Executive Officer of Advent Software. "As the pace of business increases and the demands on investment managers’ services continues to grow, it is imperative for firms to have integrated solutions that streamline their operations. We see this trend only continuing."
Advent Software, Inc. is the leading provider of Enterprise Investment Management solutions. The company provides a suite of complementary products for the front, middle and back offices of investment management organizations. The company’s common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software, Inc.
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