Advent CEO Hess Will Remain at Helm Following SS&C Acquisition
SS&C announced Hess will serve as senior vice president and general manager of SS&C's Advent business unit.
Two teams within Advent will be assembled and overseen by Hess to address key client segments.
The Advisory Market Group — focusing on wealth management and the investment advisor market — will be led by Dave Welling, who formerly served as the general manager of Advent's Black Diamond group.
Hess, meanwhile, will lead the Asset Management and Alternatives Market Group and focus on traditional and alternative asset management markets. Robert Roley will serve as the head of solutions and client experience within the group and Karen Geiger will lead solutions development.
SS&C's acquisition of Advent for approximately $2.63 billion was announced in early February, with the deal becoming official on July 8.
Whether or not SS&C would strip down the team that built Advent's Geneva into a favorite with the buy side was a top point of concern among end users when Waters analyzed the deal back in February.
"With our acquisition of Advent complete, we're excited to usher Advent into a new phase of growth and innovation, and to deliver the expanded benefits that we can now bring to our clients as a combined force," said Bill Stone, chairman and CEO of SS&C, in a statement. "By leveraging SS&C's existing capabilities and realigning the teams, we will offer the highest level of service and support, putting all of our clients in an even better position to succeed."
The fate of the next layer of personnel — including senior Advent technologists, developers and support staff — remains an open question.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
GenAI could connect ‘constellation’ of vital information technologies
At WFIC, Six Group’s Marion Leslie highlighted the opportunities and risks that the technology holds.
Why can’t we be friends?
The ABA vs most every regulator. LSEG vs BBG. AI vs SaaS. Buy vs build. Lots of drama in the capital markets.
DORA will change the buy vs. build debate… maybe
Waters Wrap: With DORA’s deadline looming, trading firms are having to reassess their long-term tech strategies. Anthony wonders if that means more building and less buying.
JSE rolls out exchange data to cloud Marketplace, built with DataBP
The move—part of a broader cloud migration at the exchange—allows financial firms to connect and subscribe to JSE news, market data, and analytics via the cloud.
The SEC needs a hand with artificial intelligence
The SEC wants to take a tough stance on AI, but it has a talent problem… or a marketing problem. Or both…
This Week: Appital adds to book-building tool; SmartStream; TS Imagine and more
A summary of the latest financial technology news.
This Week: Startup Skyfire launches payment network for AI agents; State Street; SteelEye and more
A summary of the latest financial technology news.
Waters Wavelength Podcast: Standard Chartered’s Brian O’Neill
Brian O’Neill from Standard Chartered joins the podcast to discuss cloud strategy, costs, and resiliency.