Advent Software (NasdaqGS:ADVS), a leading provider of software and services for the global investment management industry, today announced that Pictet & Cie has expanded its use of Advent's solutions with the implementation of Advent Portfolio Exchange (APX), its award-winning wealth management platform for portfolio management and client relationship management.
Founded in 1805 in Geneva, Pictet & Cie is one of the world's largest private banks, and one of the premier independent asset management specialists in Europe, with over CHF 365 billion (USD $325 billion) in assets under management and custody.
Pictet & Cie has been an Advent client since 2000, using Axys -- Advent's turnkey portfolio management solution -- for matters encompassing both the family office and independent asset managers. The company's continued growth increased its need for a more robust platform, so Pictet & Cie decided to migrate to APX. Launched in 2005, APX has been the natural progression for many Axys clients, providing an integrated portfolio management and client relationship management platform, with enhanced compliance, security and audit trail capabilities, as well as consolidated and flexible reporting.
"APX provides an excellent platform to our clients, offering them an integrated, robust and flexible portfolio and client management solution that allows for greater transparency," said Andreas Sutter, Family Office Chief Operating Officer, Pictet & Cie. "We are confident that this will not only significantly enhance our operational infrastructure for our family office clients, but most importantly enable us to provide a superior service to our clients across our business."
Pictet also uses Advent Custodial Data (ACD), Advent's leading solution for managing and reconciling portfolio information. "We are constantly look for new ways to improve our client service and satisfaction levels, and ACD significantly enhances our client offering," says Carmelo Faro, Head of IT External Services at Pictet. He adds further that "this solution allows us not only to provide high quality information to our clients, but also to integrate the data from all custodians, which we believe is unique in our market."
"We are proud that Pictet has opted to expand its relationship with Advent," said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. "Having one of the world's largest private banks relying on Advent solutions to meet its current and future infrastructure requirements reflects Advent's reputation in this important segment of the market. We are very pleased that APX continues to be the solution of choice for wealth management in the EMEA region."