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CMS ELEVATES US CASH MANAGEMENT SERVICES EXPERIENCED PROFESSIONAL MR. KRZYSZTOF WIESLAW JAMROZ

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CMS ELEVATES US CASH MANAGEMENT SERVICES EXPERIENCED PROFESSIONAL MR. KRZYSZTOF WIESLAW JAMROZ

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Mumbai, December 5, 2017: 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.”

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A former investment banker at JPMorgan Chase, Chris Jamroz is a corporate executive with expertise in value-added warehousing and logistics services. Chris Jamroz currently serves as the CEO of St. George Logistics, where he directs North America’s largest network of independent container freight station (CFS) providers.

St. George Logistics and its parent company, STG Holdings, have over 30 years of experience transporting imports and exports. The firm also provides support services that include an established IPI technology platform and transloading solutions.

Designed to maximize efficiency and avoid unexpected costs, transloading refers to the process of shifting goods as needed between different modes of transportation. The process is often required when a specific means of transportation, such as a carrier ship, cannot reach the ultimate destination. At STG, semi-trucks, air carriers, parcel, intermodal, and other forms of transportation are all available to ensure safe and efficient transportation. Efficient transloading systems are important in order to avoid delays in warehouses or ports and to minimize handling and the risk of damage to goods.

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Chris Jamroz, the CEO of St. George Logistics Holdings, possesses a history of transformative leadership and has contributed to the growth of multiple companies over the course of his career. Also committed to philanthropic efforts, Chris Jamroz actively supports the Big Brothers Big Sisters of New York City (BBBS NCY), which works to enhance its mentorship opportunities through its Education Initiative.

Designed to expand the mission of BBBS NYC, the Education Initiative delivers a holistic approach to education for mentored children (referred to as Littles) by incorporating the efforts of parents, families, support staff, schools, and mentors (referred to as Bigs). Goals of the initiative include improving academic performance and promoting family and volunteer involvement in education.

Mentors and collaborating schools also assist middle and high school students with college readiness and the development of grade-appropriate skills. BBBS NYC establishes education-focused partnerships to achieve Education Initiative goals and create individualized plans for students at different grade levels.

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St. George Logistics Launches New Miami-Dade County CFS Facility

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St. George Logistics Launches New Miami-Dade County CFS Facility

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As St. George Logistics’ executive chairman, Chris Jamroz guides a market-leading provider of container freight station (CFS) services. Chris Jamroz and his team recently announced the opening of a new Miami-Dade County specialty and temperature-controlled center.

Spanning 105,000 square feet, the state-of-the-art Free Trade Zone facility is located in Medley at 8502 NW 80th Street. St. George Logistics’ CEO Hessel Verhage described the new facility as bringing the company’s capacities to over 30 inland and port facilities across North America. In addition, the company maintains a network of more than 80 partner facilities that provide a diversity of warehousing and value-added services.

The move promises to boost corporate capabilities in providing competitive outsourced solutions that respect customers’ bottom line. Mr. Jamroz explained that Miami is emerging as a hub for dynamic import and export activities, adding that his company pairs industry-leading information technology platforms with highly efficient intermodal transportation solutions.

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A transportation and logistics professional, Chris Jamroz heads STG Holdings, which is a Wind Point Partners-backed company that provides distribution, warehousing, and container freight station (CFS) services to clients. Beyond his work, Chris Jamroz supports the Royal Ontario Museum (ROM) and was recently appointed to its board of governors.

In addition to hosting a variety of exhibitions, the ROM provides educational resources for visitors, teachers, and students. One of the most recent of these resources is the ROM Makerspace, which ROM launched in 2016 to serve as the museum’s primary learning hub.

Making use of digital learning techniques, ROM Makerspace students develop their problem-based learning skills using arts-based processes. The Makerspace features interactive activities that help students learn about the ROM collection and offers students the opportunity to learn about modern technologies, such as programming and 3D printing, particularly in terms of their relevance to art and modern industry. Teachers can book visits to the ROM Makerspace for their classes at www.rom.on.ca/en/learn/makerspace.

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CHICAGO--(BUSINESS WIRE)--

St. George Logistics ("STG"), North America's largest provider of outsourced container freight station ("CFS") services and a leading provider of value-added warehousing and distribution solutions, announces that its Executive Chairman, Chris Jamroz, will be speaking today on February 22nd 2017 at the "Baird 2017 Private Company Technology and Services Conference" in New York.

Jamroz will explain the STG's strategy and value creation plan. "The US CFS industry has suffered from neglect and underinvestment over the last decade and is now in need of massive rationalization, modernization and consolidation," said Jamroz. "Increased operating costs and the complexity of the supply chain challenges are further amplified by excess capacity and cyclicality of global LCL freight volumes. Outsourcing is the only path forward and STG is uniquely positioned to capitalize on these global trends."

Last July 2016, St. George was acquired by Wind Point Partners in partnership with Chris Jamroz and Hessel Verhage. Prior to STG, Jamroz served as the President & Chief Operating Officer of Garda Cash Logistics, a C$1.1 billion division of GardaWorld Security Corporation. In October 2016, St. George acquired and merged with AZ CFS, North America's second largest provider of CFS services with leading share in export-oriented CFS. Wind Point is an active investor in logistics, transportation and route-based businesses with previous investments including Dicom Transportation Group, RailWorks Corporation and AIR-serv Group.
About St. George Logistics
St. George offers a wide range of value-added logistics services encompassing ocean and air CFS, contract warehousing, distribution, e-commerce fulfillment and transportation services. St. George operates the largest network of independent CFS facilities in North America and has very close proximity to all major ports and metropolitan areas for ocean or air cargo. The company is also a leading provider of additional logistics services, including distribution, warehousing and transportation within the US. Additional information is available at www.stgusa.com.
About Wind Point Partners
Wind Point Partners is a private equity investment firm that has raised over $3 billion in commitments since 1984. Wind Point focuses on partnering with top caliber management teams to acquire middle market businesses where it can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170222005566/en/

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St. George Logistics' Executive Chairman Chris Jamroz to Present at the Baird 2017 Private Company Technology and Services Conference in New York

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St. George Logistics , North America's largest provider of outsourced container freight station services and a leading provider of value-added warehousing and distribution solutions, announces that its Executive Chairman, Chris Jamroz, will be speaking today on February 22nd 2017 at the "Baird 2017 Private

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STG Holdings LLC, the holding company of South Kearney, N.J.-based St. George Logistics, is rapidly investing in the consolidation and modernization of the outsourced container freight station (CFS) industry following its acquisition by private equity firm Wind Point Partners in July. STG in October purchased Linden, N.J.-based AZ Corporation, the second largest CFS services provider in North America, and Wind Point plans to merge the companies together to form a single CFS and value-added warehousing juggernaut.
Chris Jamroz, chief executive officer of STG, told American Shipper in a recent phone interview the CFS industry has essentially been left to its own devices and is now suffering from critical underinvestment. Jamroz said the reason for this underinvestment is twofold. For starters, 85 percent of all freight moves are done via full-container-load, and secondly, the CFS industry is highly fragmented. In the United States alone, there are more than 1,500 CFS providers, and because of this fragmentation, the CFS industry is lagging behind the rest of the supply chain, Jamroz said.

Chris Jamroz, CEO, STG

"The U.S. CFS industry has suffered from neglect and underinvestment over the last decade and is now in need of massive rationalization, modernization and consolidation," he said. "Increased operating costs and the complexity of the supply chain challenges are further amplified by excess capacity and cyclicality of global LCL (less-than-containerload) freight volumes."
Jamroz explained how St. George and AZ complement each other, making for a strong merged entity. St. George has been known for leading the pack in systems and technology, while AZ has been known for its customer centric culture, Jamroz said. In addition, St. George is a leader in import CFS, while AZ is strong in export CFS.
"We are very excited to merge STG, North America's largest import-oriented CFS provider, with AZ, the continent's largest export-oriented CFS business," Konrad Salaber, principal with Wind Point, said of the deal. "With 24 port and inland facilities totaling approximately four million square feet, a talented staff of more than 1,100 logistics professionals and a national network of more than 80 partner facilities, the combined business has unmatched scale and capabilities in outsourced CFS and a leading position in value-added warehousing and related services."
St. George operates the largest network of independent CFS facilities in North America, in close proximity to all major ports and metropolitan areas for ocean or air cargo. In addition, both St. George and AZ also provide a variety of additional logistics services including warehousing, distribution and transportation services.
As far as the merger goes, Jamroz said there will be full technology automation and a seamless integration, allowing the company to focus on infrastructure and physical upgrades to its combined facilities.
Jamroz said STG does have more acquisitions planned in the near future, but in terms of growth, there will be an even split between organic growth and acquisitive growth.
"Our acquisition program will continue to focus on opportunities in ocean and air CFS, value-added warehousing and distribution, e-commerce fulfillment and related services in the large and growing import/export supply chain," STG Chief Operating Officer Hessel Verhage said.
In regards to freight forwarders and non-vessel-operating common carriers (NVOs) owning or leasing their own consolidation and deconsolidation facilities, rather than outsourcing to third-party operators, Jamroz said the trend is gearing towards outsourcing.
The rapidly increasing cyclicality and seasonality of less-than-truckload freight volumes has put pressure on customers' internal cost structures, making it economically impractical for NVOs and freight forwarders to maintain in-house CFS networks, he explained.
Several freight forwarders do things in house, but do not operate at full capacity, while as an independent outsourcer, STG is able to maximize efficiency by operating at full capacity, said Jamroz. Through outsourcing, NVOs and freight forwarders can exit their fixed-cost infrastructure and move to a flexible pay-per-service arrangement, offering direct alignment of operating expenses to underlying business volumes, he added.
New Jersey-based NVO Troy Container Line has been working with St. George for 25 years, and already has a relationship with AZ in Miami. Chief Executive Officer Michael Troy said in a recent interview that outsourcing CFS services though St. George allows his company to focus on other operational issues, and he believes the merger will add even more value. Greg Howard, chief executive officer of CaroTrans International, which has also worked with both St. George and AZ, told American Shipper his company has historically outsourced 100 percent of its CFS needs. "We've found there are meaningful advantages to working with knowledgeable & proficient service providers, such as our longstanding CFS partners AZ and St. George," he said. "Both organizations are recognized as premier service providers within the CFS operating segment. Carotrans will benefit from the merger through enhanced operational network productivity. Greater efficiency will be seen as they streamline operations and integrate systems and processes."

Hailey Desormeaux is Web Editor of American Shipper. She can be reached by email here.

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STG Holdings LLC, the holding company of South Kearney, N.J.-based St. George Logistics, is rapidly investing in the consolidation and modernization of the outsourced container freight station (CFS) industry following its acquisition by private equity firm Wind Point Partners in July.

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Montreal-based GardaWorld has signed a $1.4 billion outsourcing deal with Bank of America to manage its cash processing and cheque imaging services in 32 locations across the United States.

The contract, which runs for 12 years, will see about 1,000 of the bank's employees transfer to GardaWorld Cash Services.

The deal is expected to close in the first quarter of 2014. After that, GardaWorld said it will operate as a service provider to Bank of America.

"This transaction more than doubles the capacity of GardaWorld's existing cash processing platform and creates an undisputed market leader in our industry," said GardaWorld Cash Service president Christopher Jamroz in a release.

GardaWorld employs 45,000 people providing business solutions and security around the world.

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GardaWorld wins $1.4B US outsourcing deal with Bank of America

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Montreal-based GardaWorld has signed a 12-year, $1.4-billion outsourcing deal with Bank of America to manage its cash processing and cheque imaging services in 32 locations across the United States.

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Garda World Security Corporation

MONTREAL, QUEBEC--(Marketwired - Dec. 18, 2013) -

Editors' Note: There is a photo and a video associated with this press release.

GardaWorld, the largest privately-owned business solutions and security services company in the world, today signed a 12-year, $1.4 billion strategic agreement with Bank of America to manage its cash processing and check imaging services in 32 locations across the US. As part of this transaction, the company will acquire the bank's money rooms and related facilities.

In this partnership, approximately 1,000 Bank of America vault employees will join GardaWorld Cash Services when the transaction closes in Q1 2014. GardaWorld will then operate as a service provider to Bank of America. Both companies share a customer centric culture and will be working together on a seamless transition for clients.
This agreement is part of GardaWorld's expansion in the cash services industry. GardaWorld provides direct and tangible contributions to financial institutions' strategic objectives, including:

Lower operating expenses

Exit from fixed cost infrastructure

Direct alignment of operating expenses to business volumes

Move to flexible pay per service fee arrangement

Divestiture of real estate

Single nationwide technology cash processing platform

"GardaWorld is uniquely positioned to be a partner of choice to financial services clients in North America," said GardaWorld Cash Services President and COO Christopher Jamroz. "This transaction more than doubles the capacity of GardaWorld's existing cash processing platform and creates an undisputed market leader in our industry."

" The outsourcing trend of these value-added services is already commonplace in most industrialized countries," added GardaWorld Founding President and CEO Stephan Crétier, "This transaction demonstrates the options available to US banks in terms of how they think about processing cash."

When the transaction is completed in Q1 2014, GardaWorld will operate 280 secure cash processing centers across the US.
About GardaWorld
Garda World Security Corporation (GardaWorld) provides business solutions and security services around the world. Our 45,000 highly trained, dedicated professionals serve clients throughout North America, Latin America, Europe, Africa, Asia and the Middle East. GardaWorld works across a broad range of sectors, including financial institutions, natural resources, retail, construction, telecommunications and manufacturing, and on behalf of Fortune 500 companies, governments, NGOs and humanitarian relief organizations. For more information, visit www.garda.com.

To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20131218-0082-B4_800.jpg

A video is available at the following link : https://vimeo.com/79416398

A (HQ) DVD b-roll version is also available upon request.

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UPDATE: GardaWorld Signs a 12-Year, $1.4bn Cash Vault Outsourcing Partnership with One of the Leading Financial Institutions in the US

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MONTREAL, QUEBEC--(Marketwired - Dec. 18, 2013) - Editors' Note: There is a photo and a video associated with this press release. GardaWorld, the largest privately-owned business solutions and security services company in the world, today signed a 12-year, $1.4 billion strategic agreement with Bank of America to manage its cash...

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Garda World Security Corp. has struck a 12-year, $1.4-billion (U.S.) deal with Bank of America to manage its cash processing and cheque imaging services in 32 locations across the United States.

Montreal-based Garda said on Wednesday that the transaction includes Garda's acquisition of the bank's money rooms and related facilities, which will entail the transfer of about 1,000 BoA vault employees to GardaWorld Cash Services.

Credit cards are displayed in Montreal on December 12, 2012. The European Union has proposed a draft law to cap bank fees on credit card payments, plus surcharges on paying with plastic. The Canadian Press

Carrick Talks Money

The transaction is set to close in the first quarter of 2014.

Garda - which bills itself as the world's largest privately owned security company in the world - said the deal is part of its expansion in the cash services industry.

"This transaction more than doubles the capacity of GardaWorld's existing cash processing platform and creates an undisputed market leader in our industry," GardaWorld Cash Services president and chief operating officer Christopher Jamroz said in a news release.

"The outsourcing trend of these value-added services is already commonplace in most industrialized countries," said Garda president and chief executive officer Stephan Cretier.

"This transaction demonstrates the options available to U.S. banks in terms of how they think about processing cash."

Once the deal with BoA closes, Garda will operate 280 secure cash processing centres across the U.S., Garda said.

Garda was founded by Mr. Cretier in 1995.

It was privatized last year.

Follow on Twitter: @globemontreal

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garda world; bank of america; money; cheques; deal; transaction;

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Garda strikes $1.4-billion processing deal with Bank of America

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Agreement to run 12 years, company will manage bank's cash processing, cheque imaging in 32 locations in the U.S.

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When Michelle Robinson bought a salad, a handheld mixer and a can opener last Friday at a Walmart in northwest Washington, D.C., she paid cash.

"I don't like to use credit or debit," said the 52-year-old data-entry clerk.

Many are forecasting the extinction of cash as more consumers walk up to the till and pay with debit cards or mobile devices. James Gorman, the chief executive of Morgan Stanley, recently predicted coins and checkbooks will soon be "consigned to museums."

But the death of cash looks to be a long way off. Paper bills and coins remain the No. 1 choice for payments, used in 40% of all transactions in October 2012, according to the most recent study by Federal Reserve banks in Boston, Richmond and San Francisco. Debit cards were used in a quarter of all transactions and credit cards in 17%. Checks and all other electronic-payment techniques made up the rest.

For companies, handling hard currency presents a slew of costly challenges, from transportation and storage to theft and loss. Even Bank of America Corp. no longer wants to own and maintain vaults for its cash deposits.

To cope with the hassle and expense, more firms outsource cash storage and use technology to count cash and credit their accounts. They are also switching to store-branded credit cards with lower fees, or giving customers incentives to avoid cash.

"We love it, but we hate it," said David Clothier, treasurer of Pilot Travel Centers LLC, which operates more than 500 Pilot Flying J truck stops nationwide. The company sells roughly $2.5 billion of coffee, pizza, tacos and such annually. More than half of that is collected in cash.

Managing that money costs the company about $20 million a year, Mr. Clothier said, including the time employees spend reconciling accounts, depositing the money, and performing tasks such as getting change from the in-store safe. The company also pays fees to banks and armored-car companies.

On the other hand, Pilot pays an average 2% fee on each credit-card transaction, which Mr. Clothier estimates total $100 million a year.

Those fees are why many stores set a minimum for credit-card purchases and why many gas stations charge less to fill up when customers pay cash. But there's a downside. "Cash is manually intensive," Mr. Clothier said. "I'd rather have the manager out in front of the store selling."

Randy Fry, president of the gadget chain Fry's Electronics Inc., said handling cash is a labor cost Fry's always tries to minimize, but it's still cheaper than credit-card fees of 2% or more.

Next year, Fry's plans to add Apple Pay. "Let's face it-people are going to want to use credit cards, people are going to want to use" mobile phones, he said. "We have to learn to be flexible."

Meanwhile, cash is risky because it's easier to steal. U.S. businesses pay about $55 billion a year to manage currency, according to a 2013 Tufts University study. Most of it-$40 billion-was due to theft and loss.

Handling cash is also a growing problem for banks. Bank of America last year signed a $1.4 billion agreement to outsource its cash-processing services to Montreal-based GardaWorld Security Corp. As part of the deal, GardaWorld also acquired the bank's vaults. "They were able to walk away from the burden of physical costs," said Chris Jamroz, president and chief operating officer of GardaWorld's cash services unit.

The average value of cash transactions is $21, according to the Fed's study. Customers who buy costlier goods tend to use electronic payments or checks.

At Home Depot Inc. the average transaction in its most recent quarter was about $58, and 10.1% of sales were tendered in cash, a small decline from 10.6% a year earlier, said Carol Tomé, chief financial officer.

Having accepted that cash isn't about to disappear, some companies are looking for ways to minimize the hassle and expense. Pilot's truck stops have installed cash "recyclers" from Fifth Third Bancorp.

They collect and count money from the tills, immediately credit the company's accounts, and let cashiers withdraw funds or make change when needed. The safes should allow Pilot to reduce the expense of cash by 25% and enable the company to cut staff.

Others are taking advantage of new electronic options. High-end hair salon John Barrett Holdings Inc. is experimenting with a payment system that's similar to that of ride-sharing service Uber Technologies Inc. John Barrett is opening 14 salons across the U.S. in the next three years and will encourage customers to create profiles, including providing credit-card information that will enable them to make appointments and pay without having to check out at the end.

The bill for John Barrett's average customer is $200, and according to Chief Executive James Hedges, "There's nothing more annoying than having to settle up at the end of a session. Customers really just want to breeze on out."

Nonetheless, plenty of consumers prefer cash for a variety of reasons, including convenience, curbing spending and protection from cyber security breaches.

"I've tried to start using cash more frequently to keep from running the credit cards up," said Paul Campbell, an assistant general manager at Federal Prison Industries. He paid cash for a salad, soda and ice cream at Walmart. And as for Christmas, Mr. Campbell said, "I'm going to try to use more cash."

-Drew FitzGerald, John Kester and Maxwell Murphy contributed to this article.

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Reports of the Death of Cash Are Premature

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Many are forecasting the extinction of cash as more customers pay with debit cards or mobile devices, but those forecasts are premature.

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The Miami Strategic Forum moderated its sixth annual edition today at the Biltmore Hotel in Coral Gables, FL and GardaWorld Cash Services President & COO, Chris Jamroz was there to provide his informed opinion of the global economy. Chris hosted the inaugural plenary session for the second year in a row, although he has a foundation of involvement since its inception.

The session panel included Marek Belka, Governor of the Central Bank of Poland; Tom Speechley, Partner and Head, Global Markets, The Abraaj Group and Chief Executive Officer, Abraaj North America; and Shaukat Aziz, Prime Minister of Pakistan (2004-2007). They discussed the creation of sustained prosperity in an age where negative news often fuels fears.

Most notably, the panel spoke about boosting growth in western economies through investments in emerging markets. Chris offers his unique perspective and key takeaways on LinkedIn. Click to read Solving the problem of stagnating growth in western economies and learn more.

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GardaWorld Cash Services President & COO, Chris Jamroz participates in Miami Strategic Forum - GardaWorld Blog

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The Miami Strategic Forum moderated its sixth annual edition today at the Biltmore Hotel in Coral Gables, FL and GardaWorld Cash Services President & COO, Chris Jamroz was there to provide his informed opinion of the global economy. Chris hosted the inaugural plenary session for the second year in a row, although he has a foundation of involvement since its inception.

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Chris Jamroz - International Logistics Executive - CEO of STG Holdings

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International logistics industry leader falseChris Jamrozfalse serves as CEO of STG Holdings and chairman of subsidiary comp