India’s largest* cash management company CMS Info Systems Limited, announced that Mr. Krzysztof Wieslaw Jamroz, an independent Director of CMS since March 2016, was elevated to Chairman of the Board as of August 2017.
Mr. Jamroz presently serves in the capacity of the Chief Executive Officer of STG Holdings LLC and is also the Executive Chairman of St. George Logistics, U.S.A. He has more than 15 years of experience across Cash Management, Investment Banking and Logistics sectors. He was till recently the President and Chief Operating Officer of the Cash Services business of GardaWorld Corporation. He has also served as the head of JP Morgan’s corporate finance practice in Canada. Mr. Jamroz holds a bachelor’s degree in Business Studies from Birmingham City University and a master’s degree in Business Administration from Schulich School of Business, York University, Canada.
Announcing these appointments to the board, Mr. Rajiv Kaul, Executive Vice Chairman, CEO & Whole Time Director, CMS Info Systems Limited, said, “Mr. Jamroz’s counsel over the last 18 months has been invaluable to our team as it has helped us identify new growth opportunities to serve banks in India. His elevation to Chairman of the board reflects our commitment to keeping our senior management a diverse group of highly experienced and qualified professionals.”
Commenting on the appointment, Mr. Jamroz, said: “My experience as an independent member of the board of CMS so far has been exciting since the India cash management market has the potential to grow along-side its banking and organized retail sectors. I look forward to continuing my work with the CMS team, which has built the company on the belief that trust and reliability are of utmost importance to its customers.”
About CMS Info Systems Limited
CMS Info Systems Limited (“CMS”) is India’s largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2017.I CMS is also the fifth largest ATM cash management company worldwide (based on number of ATM points as of December 31, 2016).I For Fiscal Year 2017, CMS’s total currency throughput, or the total value of the currency passing through all of their ATM and retail cash management businesses, amounted to Rs 7,290 billion.
CMS provide a wide range of services across each stage of the cash cycle in India, from when the RBI initially deposits cash in branches of selected banks, called currency chests that are
authorised by the RBI to hold and distribute rupee notes and coins for circulation to banks, to when cash is deposited back in banks after going through the various stages of the cash cycle.
* Based on number of ATM points and number of retail pick-up points as of March 31, 2017.
I Source: Frost & Sullivan “Assessment of Cash Management Services Market in India”, September 2017.