Sullivan was most recently Executive Vice President and Head of Global Sales for Eze Castle Software, LLC, a BNY ConvergEx company. He joined Eze in 2001 and oversaw its client growth in the United States and throughout Europe and Asia, leading the company to repeated years of record revenue growth. Prior to that, Sullivan had a successful career in trading, sales, research, soft dollar sales and information technology.

"Sean Sullivan brings more than 20 years of experience in the financial technology industry. He understands our business and our clients," Schwenk said. "Our company has experienced rapid growth over the past year, and we view the addition of Sullivan as an asset to our continued expansion."

"Advise is the leader in document management and regulatory reporting solutions. I am looking forward to being a part of its future success," said Sullivan. "As regulations for the investment management community continue to become more demanding worldwide, Advise has a significant opportunity to take the success it has seen in the United States and replicate it in Europe and Asia."

Developed by hedge fund industry professionals, Advise's Consensus RMS suite of regulatory reporting solutions enables firms to interpret, aggregate and normalize data from disparate sources to electronically file regulations, including Form PF. The firm also provides a complete document management system, called Vault DMS, which helps locate, track and automate key documents and regulatory exams.

The majority of hedge funds in the industry, representing over $900 billion in combined private fund regulatory assets under management (RAUM), successfully filed Form PF for the first time using Advise's Consensus RMS solution by August 29, 2012. The date marked the first deadline for registered investment advisers of over $5 billion RAUM to file Form PF for their private funds with the Securities and Exchange Commission.

"The need to manage complex documents has become an operational necessity. Regulation, investor demands for transparency, and the need to quickly access key provisions of mission critical documents present significant challenges to those with capital at risk. The combination of Advise's Vault DMS product suite and the company's ability to help managers fulfill their current and future regulatory reporting needs with Consensus RMS helps to mitigate that risk with road-tested, quality software from a single provider," said Sullivan.