London, England, 5th December 2005 - Advent Software, Inc., (NASDAQ: ADVS), a leading provider of global investment management solutions, is pleased to announce that Ahli United Bank B.S.C. (AUB) has selected Advent's Axys® portfolio management and client reporting solution. Bahrain-based Ahli United Bank (AUB), a commercial and investment banking group providing wealth management, retail, corporate, treasury, offshore and private banking services, is one of the largest banks in the Middle East, with approximately US$6 billion in assets under management. The group's businesses consist of operations in Bahrain, a wholly-owned subsidiary in the UK, and subsidiaries in Kuwait and Qatar.
"The aim of AUB Private Banking is to manage high net worth individuals' wealth as effectively as possible, which we achieve through excellent personalized customer service and by being in tune with each client's individual circumstances and requirements," explained Fawaz Baba, Group Deputy CEO - Private Banking & Wealth Management, Ahli United Bank.
"To facilitate customers' needs, AUB wanted to access account history and maintain consolidated reports from any location, which meant having a centralized system that could support AUB's extended network of branches across several countries," continued Mr. Baba. "With Advent's solutions, we can bring all holdings under one contact point, and it gives us high levels of flexibility in designing consolidated reports that show customers' entire portfolio. In addition, by linking AUB Private Banking systems under one profile, Advent's solution allows users to view entire portfolios and balances held on all accounts," said Mr Baba.
Axys® is a comprehensive and powerful portfolio management and reporting system that enables firms to easily manage an extensive range of investment instruments, resulting in efficiencies that allow them to grow their business without increasing overhead, and focus on differentiating their services.
"We are extremely pleased to be able to add Ahli United Bank to our growing client list in the Middle East," said Hakan Valberg, General Manager Advent EMEA. "We understand that the ability for investment managers to deliver a superior service to their own clients is essential in today's increasingly competitive market. This is an excellent example of how our products can support this need," continued Valberg.