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Note: After revolutionizing the investment management industry nearly 30 years ago, Advent Software's founder Stephanie DiMarco will step done in late June, when current president Peter Hess succeeds her as CEO.
Advent Software announced that Stephanie DeMarco, founder and CEO of the global investment management software and services company, is stepping down at the end of June. The board of directors has appointed Advent's current President Peter Hess to succeed DiMarco as CEO as of June 30, 2012.
DiMarco-- who founded the San Francisco-based company nearly thirty years ago as the first portfolio accounting systems built for the PC-- "has revolutionized the investment management industry... and she has never stopped pushing for innovative solutions to the industry's most mission critical challenges," according to Hess, who is quoted in the release.