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: https://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
LSEG’s private funds platform, Microsoft’s new datacenter, and more
The Waters Cooler: New private markets solutions, M&A activity, and a sprinkle of DLT in this week’s news roundup.
BlueMatrix acquires FactSet’s RMS Partners platform
This is the third acquisition BlueMatrix has made this year.
Waters Wavelength Ep. 331: Cresting Wave’s Bill Murphy
Bill Murphy, Blackstone’s former CTO, joins to discuss that much-discussed MIT study on AI projects failing and factors executives should consider as the technology continues to evolves.
FactSet adds MarketAxess CP+ data, LSEG files dismissal, BNY’s new AI lab, and more
The Waters Cooler: Synthetic data for LLM training, Dora confusion, GenAI’s ‘blind spots,’ and our 9/11 remembrance in this week’s news roundup.
Chief investment officers persist with GenAI tools despite ‘blind spots’
Trading heads from JP Morgan, UBS, and M&G Investments explained why their firms were bullish on GenAI, even as “replicability and reproducibility” challenges persist.
Wall Street hesitates on synthetic data as AI push gathers steam
Deutsche Bank and JP Morgan have differing opinions on the use of synthetic data to train LLMs.
A Q&A with H2O’s tech chief on reducing GenAI noise
Timothée Consigny says the key to GenAI experimentation rests in leveraging the expertise of portfolio managers “to curate smaller and more relevant datasets.”
Etrading wins UK bond tape, R3 debuts new lab, TNS buys Radianz, and more
The Waters Cooler: The Swiss release an LLM, overnight trading strays further from reach, and the private markets frenzy continues in this week’s news roundup.