Four years ago, Penn State Worthington Scranton announced an exciting lecture series. Funded through the generosity of local benefactors, The Richard M. and Jean McNichols Walsh Endowed Lecture brings top quality presenters in the fields of business and information sciences and technology to Penn State Worthington Scranton and the northeastern Pennsylvania community. This spring, an international business leader with deep roots in Penn State University, will visit Penn State Worthington Scranton as the Richard M. and Jean McNichols Walsh Lecturer. Mr. Kurt E. Cavano, Chairman and CEO of TradeCard, Inc., will present lectures to Business and Information Sciences and Technology students and faculty on Thursday, April 19th.
Dr. Mary-Beth Krogh-Jespersen, Chancellor of Penn State Worthington Scranton explained the significance of the Mr. Cavano's visit. "With the addition of the four year business baccalaureate program on our campus, and the growing popularity of the information science and technology curriculum, this lectureship is an ideal way to expose Penn State students to outstanding and successful leaders," she said. "Lecturers of Mr. Cavano's caliber bring real-world experiences into our classrooms, augmenting our excellent faculty and truly enhancing the quality of education here. Mr. Cavano sat right where these students are now sitting. We think what he has to share will be extremely valuable."
TradeCard, Inc. is a technology and services firm that manages complex global logistics networks online in real-time. TradeCard modernized international trade finance by offering its clients an internet platform that automates financial dealings in the procurement-to-payment process.
In 2006, TradeCard was honored by the apparel, finance and global trade industries. Apparel Magazine selected TradeCard as the top software vendor in apparel and retail for service quality, ease of installation, ease of upgrading and ease of administration and maintenance. Global Finance Magazine named TradeCard the World's Best Online Trade Finance Provider in 2006. Trade Finance Magazine named TradeCard one of its Top Four Independent Trade Platform Providers for 2006.
In January, Tradecard announced that it achieved its fourth consecutive year of major growth based on a 48 percent increase in revenue, 24 new customer deals and more than 750 new supplier-customers added to the TradeCard Platform in 2006.
TradeCard currently employs more than 125 people at its New York headquarters and worldwide in Hong Kong, Taipei, Seoul, and other cities. Its customers include Staples, JCPenney, Hurley International, Wolverine Worldwide, and Phillips Van Heusen. Revenue and transaction volume processed through the TradeCard platform increased some 200 percent through 2004 and is increasing at a monthly average of 10 percent.
TradeCard's growth was driven by new product innovation including the SourceView? visibility suite, rapidly embraced by consumer goods and retail companies resulting in eight new contracts for the product since its launch last May.
Mr. Cavano has served as TradeCard's Chairman and CEO since the company's inception in January 1999. When TradeCard was founded by the World Trade Centers Association, Cavano was appointed to spearhead the new project. E.M. Warburg Pincus, the company's majority private equity partner, then selected him to head the independent company.
Previously, Mr. Cavano was a Vice President at American Management Systems, (AMS), an international business and information technology consulting firm. He managed the Corporate Banking Practice of the AMS Finance Industry Group.
In the 15 years he worked at AMS, prior to joining TradeCard, Mr. Cavano worked with financial institutions to improve their performance through the application of technology. Focusing in the international trade, cash management and securities processing areas, he spearheaded projects ranging from business strategy consulting, to custom development and implementation. He also launched AMS' British and Australian consulting practices, and worked with the international divisions of more than 25 global banks.
Cavano is a 1978 graduate of Penn State University. He earned a Bachelor of Science degree in bioscience from Penn State Erie, The Behrend College, and an M.B.A. in computer applications and information systems from New York University. He was named 2006 Alumni Fellow for Penn State Behrend and was honored at ceremonies at University Park and Behrend in October.
The Alumni Fellow Award, the most prestigious honor bestowed by the Penn State Alumni Association, is administered in cooperation with Penn State's academic colleges. Since 1973, the award has been given to a select group of alumni who are recognized leaders in their professional fields. As leaders, Alumni Fellows add a dimension to the academic curriculum not available in the traditional college classroom. While meeting with students, Alumni Fellows stimulate thought, debate, and action, frequently pointing students toward previously unconsidered goals. The University's Board of Trustees has designated the title of Alumni Fellow as permanent and lifelong.
Cavano is married to Janet Mazur Cavano, a 1979 Penn State graduate. They have two daughters and live on the New Jersey shore.