|Jaymin B. Patel
|Chief Executive Officer of GTECH Holdings Corp
|Senior Vice President and Chief Financial Officer of GTECH Holdings
Corp. from January 2000 to May 3, 2007
Chief Financial Officer of
Lottomatica S.p.A from August 2006 to April 2007
PricewaterhouseCoopers in London
|Mr. Patel holds a BA (honors) degree from Birmingham Polytechnic (UK)
(now the University of Central England) in Birmingham and
qualified as a
Chartered Accountant with PricewaterhouseCoopers, London
|Providence, Rhode Island
Biography: Jaymin B. Patel President
and Chief Operating Officer of GTECH Corporation
As President and Chief Operating Officer of GTECH
Corporation, Jaymin Patel is responsible for managing the Companys
operational functions and ensuring that the Company meets its corporate
objectives and revenue-growth goals. Working with all GTECH operations, Patel
oversees the development of strategic growth opportunities and the enhancement
of technological solutions to strengthen operational efficiency, customer
satisfaction, market penetration, and organizational development.
joined GTECH in July of 1994, after approximately five years with
PricewaterhouseCoopers in London. Since then, he has had a series of
increasingly responsible financial positions within the Company, including
Finance Director of GTECHs European and African Operations and Vice
President of Financial Planning & Business Evaluation. From January 2000 to
April 2007, Patel served as Senior Vice President and Chief Financial Officer
of GTECH Corporation, and from August 2006 to April 2007, he also served as
Chief Financial Officer of Lottomatica S.p.A.
During his seven years as
Chief Financial Officer of GTECH, Patel was instrumental in driving growth
across the business, leading cost optimization initiatives, and substantially
improving the capital efficiency of the Company. Patels tenure as the
Chief Financial Officer culminated in his leadership in coordinating the
financing for the Lottomatica acquisition of GTECH.
Patel holds a BA
(honors) degree from Birmingham Polytechnic (UK), now the University of Central
England in Birmingham, and qualified as a Chartered Accountant with
|A Personal 'Snap Shot' Of JAYMIN B.
Ten questions for ....
PATEL, President and Chief Executive Officer
What was your first job?
A: Trainee Accountant at
PricewaterhouseCoopers in London.
Q: Name a business leader you
A: I admire a lot of business leaders
but true inspiration comes from someone who can effect a generational change
like Nelson Mandela.
Q: What's the secret to business
A: Having the courage and conviction to
lead the organization to new heights.
Q: What's the best piece of
advice you have ever received?
A: Treat everyone with respect and
expect the best from people.
Q: What is your greatest regret
A: I wish I was able to better manage my
personal life with my business life.
Q: What skills or qualities do
you wish you had?
A: Being more thoughtful about how to
get the best out of people. I also wish I had a better flair for consumer
behaviour and marketing as our industry continues to evolve.
are you reading?
A: "Steve Jobs" by Walter
Q: What are the highs of your
A: I work in a highly dynamic, evolving
industry with great people and I deal with complex, international business
Q: And the lows?
travel so much that I'm often away from my family.
do you achieve work life balance?
A: Everyone has to make a personal
decision about this. It's not always easy, but I have a wife who is smarter
than me and she makes it all work.
Jaymin B. Patel As Told
to Elizabeth Olson
NEW YORK (January 9, 2010) -- I was born
in Nairobi, part of the Indian migration to Kenya. My grandfather came first,
to work on the East African railroad. My father worked as a grocery store clerk
and then as a bank cashier until he and my mother moved to England in 1970,
hoping for a better life and better education for my sister and me. They
settled in West Harrow, outside London. My father worked as an accounts clerk,
and my mother as a machinist in a factory. We were a working-class family where
education was the key to moving ahead.
So my parents were none too pleased
when I took on a paper route at the age of 11, then, the next year, began
working on weekends and during vacations at a local grocery store owned by some
I attended local public schools, when it wasnt the
easiest time to be an immigrant in Britain. I made friends by playing cricket
and soccer, and learned to play the euphonium, a four-valved brass instrument,
and joined the schools brass band. But trying to fit in and
working at the store while going to school meant that my grades slipped.
It seemed more interesting to work in a shop, but my mother kept insisting that
I get a full education.
I was accepted to university at Birmingham
Polytechnic, where I graduated with an honors degree in accountancy in 1989. I
joined PricewaterhouseCoopers in London and trained to become a chartered
accountant. In 1992, I was assigned to work with a consortium of five
companies, including Cadbury Schweppes and Gtech. Called the
Camelot project, the
consortium was organized to bid on operating Britains newly approved
national lottery. That assignment was a heady experience for a man in his early
asked me to become the financial controller of its newly created British
subsidiary. Initially, it owned 22.5 percent of Camelot, but that stake was
I worked as finance director for Gtechs European and
African businesses, bidding, for example, to run South Africas lottery.
Our business is to turn a countrys or a states traditional paper
lottery into a centralized operation. We operate in more than 50 countries.
In the spring of 1997, Gtech asked me to move to the United States, which
was an easy career decision. It was much harder for my wife, Kinnari, and me to
uproot ourselves from friends and family.
My wife and I joke about it now,
but in those days I didnt have much time to be a family man. My job kept
me on the road regularly. I had to learn about the differences in the way
countries approached lotteries and gambling. When Gtechs chief financial
officer retired in 1999, I hoped to win his job. But there was concern whether,
at age 32, I was ready. I became acting chief financial officer initially, and
was later promoted. In May 2007, I was named president and chief operating
officer, and not long after we were bought by Lottomatica, the operator of
Italys lottery. In January 2008, I became chief executive of Gtech. We
often compete for business in highly charged political environments, and there
were allegations that Gtech used undue influence to win lottery contracts
we serve approximately 100 lotteries globally but we havent
had to deal with any such concerns recently. My traveling days are far from
over; I fly to various countries, and to Rome for board meetings. But I do have
more time for my family now. We take periodic trips to India, particularly to
Gujarat, the region my family is from. My maternal grandmother still lives
there, and a year ago we visited because we want our children to know India and
to see a small facility the family is building for 17 orphans in the area.
SOURCE: The New York Times.
Jaymin Patel Featured On Nationally-Syndicated Radio Program
RHODE ISLAND, (November 3, 2009) - GTECH President and CEO Jaymin Patel was
featured on the nationally-syndicated radio program, The CEO Show, on Sunday,
Jaymin discussed the worldwide lottery industry and how
lotteries serve as an important revenue generator for governments during these
tough economic times.
Jaymin has conducted several similar interviews as
part of the Companys efforts to help educate the public on the benefits
of lottery modernization and best-practice implementation.
As world leaders
in lottery solutions and gaming technology, it is important to be in the public
domain as knowledge leaders on this matter.
Subscribers forward to archive news
edition for link
New Outline of
Lottomatica Board of Directors
Jaymin Patel In The
Board Of Directors Of Lottomatica
ROME, Italy -- PROVIDENCE, Rhode
Island (USA) (November 9, 2007) - Lottomatica announces, effective on this
date, that Jaymin Patel, Chief Executive Officer of GTECH Corp., has been
appointed to the Board of Directors in replacement of Paolo Ainio, who resigned
on October 5, 2007. Jaymin Patel, will remain in office until the next
shareholders' general meeting. To this date, Jaymin Patel owns approximately
180,000 Lottomatica shares, as per the company's register.