SOURCE: Advent Software

Advent Software

March 10, 2013 21:10 ET

CITIC Securities Selects Advent to Support Growth Strategy

Leading Chinese Investment Bank Chooses Advent's Geneva® Solution for Hedge Fund Business

BEIJING and SAN FRANCISCO, CA--(Marketwire - Mar 10, 2013) - 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® and Geneva® Advantage solutions.

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® and Geneva® Advantage to meet these needs. Geneva® 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® Advantage is a reconciliation system seamlessly integrated with Geneva® 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® 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 information."

About Advent
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.

About Geneva®
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.