LONDON – July 1, 2003 – Leading provider of investment management solutions Advent Europe announces that its UK operation just finished a very strong second quarter – signing license contracts with five new clients in London and adding licenses to an existing client.
Two private banks – one being a leading global financial institution – signed up for Advent Office™ for Portfolio Management & Reporting and Trade Order Management & Compliance. The names of the two banks are not to be published at this stage. They selected Advent Office to meet the persistent and increasing demands of their most sophisticated clients.
Also in the second quarter, Absolute Return Partners – an open architecture family office adviser headed up by former Lehman Brothers PCS director Niels Jensen – was added to Advent UK’s client list. “We selected Advent Office to enable us to offer superior client management & consolidated reporting,” says Jensen. The fourth new client is a significant and well-known Family Office that signed up for Portfolio Management & Reporting. Advent UK’s fifth new client is a well-established Hedge Fund that is currently implementing Advent Office for Portfolio Reconciliation & Accounting. Finally, one of Advent’s existing clients decided to increase their number of licenses for Portfolio Management & Performance Measurements.
"We are very pleased with the second quarter", says Alf Bringaker, regional director of Advent UK since Jan. 2003. "It's evident that despite strong competition resulting from tough economic conditions, investment management firms continue to choose Advent. A key reason for this is our solid base of referenceable clients in the UK and Europe who recommend our solutions. In addition, the strengthening of Advent's UK operation this year has enabled us to better address local and client specific requirements, and we have also improved our sales team.”
As a result of the economic climate, leading and ambitious investment management organisations tend to prefer high-quality software from financially strong providers with a large and highly satisfied client base. “We see an increased emphasis on the providers’ longevity and proven ability to deliver according to expectations,” explains Advent Europe director Lord Calum Graham. “After this successful quarter and given the current pipeline, Advent’s commitment to deliver even better solutions and services to the UK market will be further strengthened.”
About Advent Europe
Advent Europe is a leading provider of investment management solutions throughout Europe. Established in 1998 as an independent distributor and support organisation of Advent Software, Inc.® products, Advent Europe now has local presence across the continent. Since 2001, Advent Software has acquired Advent Europe distributors in Denmark, Greece, Norway and Sweden.
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