Advent Software's Middle East Expansion ContinuesPress Release08 Dec 2010 10:20 am
Increased Demand for Advent Solutions Drives Move to a Larger Office in the DIFC Village
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that in view of its expanding team, it has moved to a larger office in Dubai, within the precincts of the Dubai International Financial Centre (DIFC), of which Advent has been a member for the past five years. The new office space is a response to the growing demands from the Middle Eastern and North African markets and reinforces Advent's commitment to the region.
"The Middle East is a very important market for Advent," said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. "The opening of the new office is a milestone for us, as it demonstrates our expanding commitment to the Middle East and further strengthens Advent's position as a leading global software and services provider. The combination of our industry-leading product suite and local knowledge and support infrastructure has led more than 30 firms in the region to choose Advent, making us the premier single solution vendor for investment management organizations in the region."
With this growing, locally based team, Advent understands the local requirements and regional differences, speaks the local languages and provides support to all its clients in the region. The clients range from some of the largest investment management firms like Jadwa Investment, Emirates NBD, Shuaa Capital and ANBInvest to new entrants like United Financial House.
Commenting on Advent's expansion of its operations in the Centre, Marwan Lutfi, Deputy CEO and Head of Business Development, DIFC Authority said: "We congratulate Advent on the growth of their business and are delighted to be in a position to be able to support them in this growth. Advent is one of several clients scaling up their operations in the Centre, which is a testimony of our successful strategy that is focused on working closely with our clients and facilitating doing business from the Centre."
Advent has been providing investment management solutions to asset managers, family offices and wealth managers in the region for over seven years. More than 30 clients are based across the region, from UAE, Qatar, Bahrain and Saudi Arabia to Egypt. The key to Advent's success has been local presence and a deep understanding of regional investment management practices, combined with a world class technology solution covering portfolio and client relationship management, trade and fund order management, fund accounting and reporting and investment research management. Advent solutions turn the administration of investment management into an automated, transparent and accurate process that enables professionals to focus on their clients and their investment decisions.