Kanbay Names Outsourcing Industry Veteran Shiraz Patel, President, Managed Solutions
Added Emphasis of Managed Solutions will Increase Value and Manage Risk for Financial Services Clients
CHICAGO, IL, June 10, 2003 - Kanbay International Inc, a premier integration and managed solutions company focused on the financial services industry, today announced that services veteran Shiraz Patel has joined as President, Kanbay Managed Solutions, Inc. Kanbay Managed Solutions provides application management and business process outsourcing solutions designed to increase business performance for companies in the financial services industry.
According to Kanbay Chairman and CEO Raymond Spencer, "Our clients have increasingly cited a real need for a single partner for both business and technology integration, and a proven, industry-focused provider for managed solutions."
Spencer continued, "Shiraz Patel is an excellent addition to Kanbay's executive team because he brings a unique blend of business skills to our organization. In addition, his entrepreneurial successes in outsourcing and his customer-focused mindset make him highly qualified to lead Kanbay's increased focus on the managed solutions market segment."
According to Shiraz Patel, "I'm very excited about the opportunity at Kanbay. Today's exciting market dynamics, competitive openings and a true differentiation of Kanbay, combine to create a unique, global outsourcing business model. The company has the necessary ingredients for customer success: deep vertical financial services expertise plus a strong focus on client's return on investment, performance management and risk management. I look forward to enhancing Kanbay's growth in this area."
Kanbay Managed Solutions offerings include all facets of application management outsourcing (AMO) and business process outsourcing (BPO) services. These services are delivered through a core set of Kanbay solutions and include complete "process ownership" for critical financial services functions.
Outsourcing Veteran Brings Diverse Expertise to Kanbay Managed Solutions
Prior to joining Kanbay, Mr. Patel served as Senior Vice President and General Manager, Application Solutions Division for OAO Technology Solutions (NASDAQ: OAOT) where he rapidly and successfully built the division from being its first employee to employing close to 700 people. Mr. Patel's career spans a 19-year track record of entrepreneurial success in the information industry, and he has a held a number of leadership positions, including at Digital Equipment's outsourcing business.
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.
