Over 100 clients are now using Geneva, Advent Software’s global investment management and accounting platform, according to the company.
The company added 10 new Geneva clients during the fourth quarter of 2006 and, for the full year, doubled the number of new Geneva customers, from 17 in 2005 to 34 in 2006.
“We are very excited about the momentum we see with Geneva, Advent’s most sophisticated platform for portfolio accounting,” says Stephanie DiMarco, Advent’s Chief Executive Officer. “As global accounting requirements continue to grow in complexity, more and more firms need a single platform with which they can consolidate systems, simplify operations, manage complex instruments, and support rapid growth – and the platform of choice is clearly Geneva.”
Clients that purchased Geneva during the fourth quarter include Ivory Investment Management, Octavian Advisors, Passport Capital, and Redbrick Capital Management.
“As one of the initial users of the Geneva platform, we feel Geneva is a reliable source of portfolio reporting for our prime brokerage clients,” says Mark Aldoroty from Citigroup’s Prime Brokerage Division. “Citigroup continues to enhance and improve the use of the application as the breadth of product increases, allowing us to create even more dynamic and robust reporting for our clients.”