Advent signs Albemarle Asset Management
07 January 2008 | 1644 views | 0
Advent Software, (NasdaqGS:ADVS), the leading provider of software and solutions for the global investment management industry, today announced that Albemarle Asset Management Limited has selected Moxy, Advent's industry leading trade order management system, and Advent Portfolio Exchange (APX), Advent's next generation portfolio management solution, to support its ongoing growth.
London-based Albemarle Asset Management, a financial advisor and investment manager, provides expert asset management to institutions and individuals worldwide, with an emphasis on capital preservation and risk reduction.
With the growth in client numbers and assets under management it is experiencing, Albemarle Asset Management needed a system that could provide it with superlative risk management and client reporting capabilities. The firm also wanted a platform that could automate its business processes, positioning it for further expansion. Using Moxy and APX, Albemarle Asset Management will be able to leverage a range of functionality from portfolio modeling and trade execution to portfolio management, client relationship management and reporting.
"We have an aggressive business plan to grow our client base, and to achieve this we needed to enhance our operational infrastructure and the level of service we provided our clients," said Matteo Rigginello, Managing Director, Albemarle Asset Management. "After reviewing a number of suppliers in the market, we chose Advent's suite, which will integrate our front, middle and back office. With APX and Moxy, we can automate operations, improve performance tracking benchmarking, and cash positions tracking, and deliver superior client reporting. In addition, the new solution will go a long way in helping us comply with the new MiFID requirements," added Rigginello.
"We are delighted to add Albemarle to the extensive and expanding list of UK wealth managers who have selected APX and Moxy," said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. "This deal demonstrates that our solutions meet the growing demands of the investment management community, in particular helping to increase operational efficiency and deliver superior client service."