May 19, 2003

Advent President and CEO Steps Down

SAN FRANCISCO (HedgeWorld.com)--Peter Caswell, president and chief executive at Advent Software Inc., has resigned from the company to pursue other interests, according to the firm.

Mr. Caswell stepped down from Advent's board at the company's annual stockholders meeting this week. Stephanie DiMarco, chairman and founder of Advent, will assume his responsibilities until a replacement is found and as a search for a new president and chief executive commences.

Mr. Caswell joined Advent in late 1993 and worked in a variety of sales and marketing roles until being appointed president and chief operating officer in April 1997. In November 1999, Mr. Caswell was given the additional responsibilities of chief executive. During his tenure, the software company's revenue increased tenfold.

Now Advent wants to attract hedge fund managers with its portfolio management and accounting software. Advent began an aggressive marketing push in the hedge fund industry earlier this year Previous HedgeWorld Story.

SBarreto@HedgeWorld.com

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