CITIC Securities Selects Advent to Support Growth Strategy
Leading Chinese Investment Bank Chooses Advent's Geneva(R) Solution
for Hedge Fund Business
BEIJING and SAN FRANCISCO, CA -- (Marketwire) -- 03/10/13 -- Advent
Software, Inc. (NASDAQ: ADVS), a leading provider of software and
services for the global investment management industry, today
announced that CITIC Securities Co., Ltd. a leading full-service
investment bank based in Beijing, China, and a subsidiary of CITIC
Group, is now live on Advent's Geneva(R) and Geneva(R) Advantage
As a global multi-strategy fund, CITIC trades in a number of
financial markets, which required them to find a solution with
enhanced global capabilities as well as broad functionality. CITIC
selected Geneva(R) and Geneva(R) Advantage to meet these needs.
Geneva(R) is a global portfolio management and accounting solution
delivering comprehensive instrument coverage, full financial general
ledger, a unified data model enabling flexible reporting capabilities
and industry-standard integration tools allowing firms to manage
complex investment vehicles, multiple investment strategies, and
tiered fund structures. Geneva(R) Advantage is a reconciliation
system seamlessly integrated with Geneva(R) that automates firms'
reconciliation processes and provides top-down visibility into
severity and status of breaks to maximize operational efficiency.
According to Stephen Xu, Technical Director at CITIC Securities
International, "Our decision to choose Advent's Geneva(R) solution
was based on Advent's proven expertise in the global alternatives
market, their track record of success in implementing premier
solutions, and the local service provided by Advent's Beijing-based,
development, implementation and support team."
"We're excited to work with CITIC and look forward to growing our
relationship in the years to come," said Pete Hess, President and
Chief Executive Officer, Advent Software. "CITIC's decision to work
with Advent is a testament to our ability to deliver great local
services and support in Asia. Our local expertise paired with our
award winning solutions and knowledge of the global alternative
investments market is the key to helping our clients in the Asia
Pacific region eliminate the boundaries between systems and
Advent Software, Inc., a global firm, has provided
trusted solutions to the world's financial professionals since 1983.
Advent's proven solutions can increase operational efficiency, reduce
risk, and eliminate the boundaries between systems, information and
people so you can focus on what you do best. With more than 4,500
client firms in over 60 countries, Advent has established itself as a
leading provider of mission-critical solutions to meet the demands of
investment management operations around the world. Advent is the only
financial services software company to be awarded the Service
Capability and Performance certification for being a world-class
support and services organization. For more information on Advent
products visit http://www.advent.com/about/resources/demos/pr.
Advent, the Advent logo, Advent Software and Geneva are registered
trademarks of Advent Software, Inc. All other company names or marks
mentioned herein are those of their respective owners.
Geneva, a global portfolio management and accounting
platform, is a proven solution for asset managers, hedge funds, fund
administrators, prime brokers, and mutual funds that require a high
level of operational efficiency and easy access to real time data.
Geneva offers comprehensive instrument coverage, full financial
general ledger, and industry-standard integration tools to enable
firms to manage complex investment vehicles, multiple investment
strategies, and tiered fund structures. For more information on
Geneva visit https://secure.advent.com/info/geneva_livedemo.
Advent Software, Inc.
Advent Software, Inc.
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