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Advent Software hires Jones and Bertone for global accounts business

25 October 2004  |  1799 views  |  0 crowd

US-based Advent Software has appointed John Jones as vice president of sales and Linda Bertone as vice president of services for its new global accounts business, formed to exploit opportunities for growth among large-scale financial services firms.

Advent says the new unit will serve global asset managers and alternative investment communities, as well as the fund administration marketplace.

Jones and Bertone bring year's of experience in the financial technology sector to their posts.

Past positions for Jones include global director of sales for Thomson Financial Services, where he managed sales of Portia, OpenTrader and Perascope, and director of global clients at SunGard Data Systems where he managed corporate relationships, sales of integrated products and new business development activities.

Bertone brings experience in relationship management, consulting services and custom application development, including serving as managing director of Thomson Financial's Treasury Solutions division, where she led a services organisation serving more than 100 financial services organisations worldwide. She also served as vice president of client services for Thomson Investment Software, where she led a team of more than 100 people serving over 400 clients worldwide. And most recently, she was vice president of client services at Linedata Services, where she directed 25 service professionals.

The arrival of Jones and Bertone follows the recent appointment of Gail Schulman as executive vice president in charge of strategic business development, at Advent. Schulman, who was president and CEO of the Thomson Financial division responsible for the Portia portfolio management product line, was hired specifically to develop global accounts at the vendor.

The new appointments come as Advent reports a net loss of $5.2 million for the third quarter of 2004, representing a marginal improvement over the $5.4 million net loss posted in the same period last year. Revenues for the quarter were up to $38.6 million, compared with $34.5 million last year.

Commenting, Stephanie DiMarco, Advent CEO says: "During the quarter we saw the tone of business improve, evidenced by slightly larger contracts and an increased number of Geneva transactions, with six contracts signed last quarter. We also launched the newest version of Moxy(R), Advent's leading trade order management solution. Together with our improving financial results this quarter, I'm pleased with the company's progress this year."

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