Advent Software, a vendor of software and services for investment managers, has announced that Catella Asset Management has gone into live production with Advent Portfolio Exchange and Advent's Moxy for trade order management, portfolio management and reporting and client relationship management (CRM).
Stockholm-based Catella is an independent asset manager with approximately $5 billion under management. Catella's services include fund management, special mandates and asset allocation for institutional and private investors.
"We wanted a single point of entry for our trading which Advent's product provides," Stefan Widenfelt, CEO of Catella Asset Management, said. "We invited a broad range of vendors to showcase their products, but we chose the Advent products as we felt the integrated front- to back-office platform was best suited to our requirements."
Hakan Valberg, general manager for Advent EMEA, called the deal "another good example of the momentum we are continuing to build with our products in the European, Middle East and African markets."
Advent Portfolio Exchange is portfolio management technology that integrates the front office functions of client relationship management (CRM) with the back office operations of portfolio accounting and reporting.
Last year Advent announced that Bill Few Financial Group, a Pittsburgh-based investment and wealth advisor and broker-dealer group, had migrated to Advent Portfolio Exchange for client relationship management functionalities.
Bill Few Financial Group, which has $1.2 billion in assets under management, participated in the client validation development process of Advent Portfolio Exchange last year. The company upgraded from Axys to Advent Portfolio Exchange.
Bill Few officials said moving to Advent Portfolio Exchange was done to improve the firm's client services, improve compliance and security, and help integrate front-office functions with back-office operations.
Earlier in 2006 Advent announced the second major upgrade to Advent Portfolio Exchange Version 1.5. Company officials say Version 1.5 enables asset managers and single or multi-family offices "the ability to provide outstanding client service in a single solution, thus eliminating the cost and complexity of managing multiple systems."
Advent Portfolio Exchange Version 1.0 launched in September 2005.
David Sims is a contributing editor for ContactCenterSolutions. To see more of his articles, please visit his columnist page.