Media
David Andrews receives The Economic Times 2010 'Entrepreneur Of The Year' award
28 Oct 2010
NEW DELHI, 28 October, 2010 – David Andrews, founder and CEO of Xchanging (LSE: XCH), one of the largest and fastest growing business processors, has been recognised as the 'Entrepreneur of the Year' by The Economic Times, India's most respected and largest circulating financial daily. The Economic Times awards recognise the contribution of leaders and organizations to the Indian Business Process Outsourcing (BPO) industry. The jury chose David Andrews for his entrepreneurial achievements and ability to foray into a tier 3 Indian town to set up a business processing centre.
Xchanging recently signed an agreement with the State Government of Karnataka to lease and jointly develop six acres of land in a new SEZ that is being developed in Shimoga – a tier 3 town north-west of Bangalore. Xchanging will build a state-of-the-art business processing centre on this land, making it one of the first multinational companies to set up a centre in a tier 3 location in India. British Prime Minister, David Cameron called this project "the very best of UK and Indian ingenuity and creativity".
TK Arun, Editor of The Economic Times and one of the jury members for the award said, "The entrepreneurial dynamism shown in setting up shop in a small town, minimising the carbon footprint and still growing rapidly is definitely impressive. The jury chose to recognise David Andrews for this entrepreneurial quality".
Accepting the award, David Andrews said, "It is a great privilege to be given this honour. I thank The Economic Times for their choice. It is the customers and employees of Xchanging who enable our entrepreneurism. I accept this award on their behalf".
The new centre in Shimoga will be Xchanging’s fourth major processing centre in India. Xchanging employs over 3,400 people in India and has three of its top ten global processing hubs in Bangalore, Gurgaon and Chennai. The company set foot in India in the year 2003 and has since then significantly expanded its operations in the country. In 2008 Xchanging announced the acquisition of Cambridge Solutions Limited, listed on the Indian stock exchanges.
For further information, please contact:
Xchanging
Meeta Thareja
Tel: +44 (0)20 7780 5374
meeta.thareja@xchanging.com
India – Gutenberg Communications
Sonali Madbhavi / Anna R Beck
Tel: +91 (0)41324 969/968/291
sonali@gutenbergpr.com / anna@gutenbergpr.com
UK - Cardew Group
Rupert Pittman / David Roach
Tel: +44 (0)20 7930 0777
xchanging@cardewgroup.com
About Xchanging
Xchanging is one of the largest and fastest growing business processors. With a wide range of multinational customers in 42 countries and employing over 8,000 people, we are a truly global company. Our aim is simply to provide business processing services better, cheaper and faster.
Xchanging provides procurement, accounting, human resources and technology services across industries. These include banking, insurance, manufacturing, retail and real estate among others. We combine functional expertise with deep industry domain knowledge to provide industry-specific outcomes for our customers.
Listed on the London Stock Exchange in 2007, the company is in the FTSE250, the index of mid-capitalised companies traded on the London Stock Exchange. Xchanging is also a member of the FTSE4Good index which measures the performance of companies that meet globally recognised corporate responsibility standards.
About David Andrews
David founded Xchanging in the year 1999. Today Xchanging (LSE:XCH) is one of the largest and fastest growing business processors and has over 8,200 people in 10 countries serving customers in 42 countries.
Previously David built up Accenture's outsourcing business and had responsibility for managing major technology replacement programmes in Europe. In 1990, he led the successful Accounting outsourcing for British Petroleum – the first of its kind in the world. Then in 1992 he led the massive outsourcing arrangement for the London Stock Exchange.
In 1994, he relocated to Paris to take responsibility for Accenture's business in West Europe. Over three years he moved West Europe from the worst to the most profitable of the 9 Accenture regions worldwide. During this time David was also responsible for the implementation of the Xetra trading system at Deutsche Börse.
Before joining Accenture, he managed a major programme of hospital refurbishment and health care infrastructure renewal in Congo.
David is a Fellow of the Institute of Chartered Accountants. He has an MA in Finance and Administration from the Sheffield University. David was appointed to the Supervisory Board of Deutsche Börse AG in 2003 and is a William Pitt fellow of Pembroke College Cambridge.