San Francisco, CA, December 3, 2003 - Advent Software, Inc. (Nasdaq: ADVS) today announced that Stephanie DiMarco, founder of Advent Software, has been appointed permanent chief executive officer, a position she has been holding on an interim basis since May, 2003.
Ms. DiMarco founded Advent in 1983, and served as its chief executive officer until 1999. Ms. DiMarco engineered the growth of Advent from a start-up software company, through its initial public offering in 1995, to an 800-person company today that is the leading provider of investment management solutions. Under her leadership during the last six months, Ms. DiMarco has refocused the company on its core markets, strengthening its franchise through delivering best of breed products and services and returning to profitability.
In conjunction with her appointment as chief executive officer, Advent Board member John H. Scully has been named Chairman of the Board of Directors. Mr. Scully, managing director of SPO Partners & Co., a private investment firm he co-founded in 1991, brings a broad array of business and financial services experience to Advent.
“I’m thrilled to be back as Advent’s CEO and to be able to concentrate my efforts on getting this great company back on track,” said Ms. DiMarco. “I’m also very pleased to have John Scully assume the role of chairman. Since May we have made tremendous progress in refocusing the company. John’s experience will be a great asset to me and the rest of the board as we continue to improve performance and execution across the company.”
Advent Software, Inc. (www.advent.com) has been providing trusted solutions to the world’s leading financial professionals since 1983. Firms in 55 countries use Advent technology to manage investments totaling more than US $8 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.
Graham Smith - Chief Financial Officer
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