Kanbay Chairman&CEO Raymond Spencer Named 2003 Illinois Ernst&Young Entrepreneur of the Year Finalist
CHICAGO, IL, June 16, 2003 - Raymond Spencer, chairman and chief executive officer of Chicago-based Kanbay Incorporated - a premier global systems integrator and managed services firm specializing in the financial services industry - was selected as a finalist in the 2003 Illinois Ernst&Young Entrepreneur Of The Year® (EOY) awards program. Mr. Spencer, 52, received this honor in the Business Services category among 30 EOY finalists from the Illinois region recognized at an awards banquet on June 12 at the Navy Pier Grand Ballroom in Chicago.
The EOY awards program currently takes place in more than 150 cities in over 35 nations. Awards are presented to roughly 900 of the world's most successful entrepreneurs who demonstrate excellence in such areas as innovation, financial performance and personal commitment to their businesses and communities. Entrants must own or manage a private or public company, be primarily responsible for the recent performance of their organization, and be active in top-level management.
Raymond Spencer founded Kanbay in 1989 with a vision to be a focused provider of technology-based business solutions for financial service organizations. With 12 locations on four continents, Kanbay currently is a proven resource for the financial services industry. The company works closely with its banking, insurance and card services clients to apply high-value solutions through a unique global delivery model that leverages local presence, regional expertise, and global resources.
"I am honored to be chosen for this distinction among the top leaders in the Illinois business community," Mr. Spencer said. "It's a testament to Kanbay's outstanding success in providing our clients with innovative, cost-effective solutions that help them to seize a competitive market position and increase their business performance over the long-term."
Mr. Spencer has been instrumental in driving Kanbay's own financial success.
In fiscal year 2002, he significantly increased the company's profitability
and achieved an
18.3 percent revenue growth increase over the prior year. Both were notable
accomplishments for Kanbay given the sluggish economic environment.
Mr. Spencer has over 26 years' experience spanning the areas of planning, finance, team building, leadership, management, advocacy, and conflict resolution. Born in Adelaide, South Australia, he is highly experienced in directing international projects, having worked in 18 countries including the U.S., Australia, India, UK, Hong Kong, Japan, and Singapore. He also has advised corporations and not-for-profit groups on organizational, cultural, and leadership initiatives.
In addition to his achievement as an EOY finalist, Mr. Spencer was inducted to the Chicago Area Entrepreneur Hall of Fame in 2003 and serves as a board member of the Information Technology Association of America (ITAA). He is a member of the Advisory Board of the Cross Atlantic Technology Fund and a member of The Economic Club of Chicago. Recently, he was named a laureate in the Computerworld Honors Program, which distinguishes innovators around the world whose visionary use of information technology produces and promotes positive social change.
About Kanbay
Kanbay is a global integration and managed solutions company with a rich heritage in serving the financial services industry. The company's solutions help customers achieve sustainable business success and predictable value via a customer-centric approach to deploying industry innovation, process excellence and information technology solutions. Kanbay's solutions are a combination of bundled and specialized solution sets, industry advancements, process excellence and information technology enablement delivered via a flexible global delivery model at the right cost.
Founded in 1989, Kanbay is headquartered in Rosemont, Illinois. Kanbay also has U.S. offices in Los Angeles and New York; European office in Cambridge; Australian offices in Melbourne, Sydney, Brisbane and Perth; offices in Hong Kong, Japan, Singapore and Canada; plus the Kanbay e-Solutions Center in Pune, India. Kanbay is a Safeguard Scientifics (NYSE: SFE) partner company.
