West Monroe Partners, a progressive business and technology consultancy, today announced that Chief Financial Officer Holly Kay has been named a finalist for a 2017 Chicago CFO of the Year® award by the Financial Executives International (FEI) Chicago Chapter. Ms. Kay was a finalist in the mid-size private category. The FEI Chicago Chapter recognized Ms. Kay, along with 16 other finalists and five award recipients, for their exceptional performance and roles as corporate stewards at the 7th Annual Chicago CFO of the Year® Awards reception and dinner on November 1, 2017.
Ms. Kay joined West Monroe as chief financial officer and member of the firm’s executive team in 2006. In the 10 years since, the organization has achieved a 26 percent compound annual growth rate and has maintained profitability even during recessionary years.
In addition to serving as the firm’s CFO and leading its finance and accounting functions, Ms. Kay is responsible for integrating and supporting the company’s 10 offices across the United States and assisting office leaders in driving future growth. She also leads several additional shared services functions, including quality assurance, internal technology, and real estate and facilities. She guided the organization through its sale to an employee stock ownership plan (ESOP) on December 31, 2012. The firm’s share price has increased over 500% percent since the ESOP’s inception.
“It is exciting and gratifying to see Holly Kay recognized for her hard work and leadership in making this hometown success story happen,” said Kevin McCarty, West Monroe’s president and CEO and one of four people who co-founded the firm in Chicago in 2002. “Her ability to create and run high-performing finance, accounting, and shared-services teams has played a key role in our growth success. But numbers aside, she has contributed even more to our organization as a role model and mentor to our people as we strive to build the next generation of leaders.”
Prior to joining West Monroe Partners, Ms. Kay served in roles at American Capital Strategies and KPMG Transaction Services, where she was a consultant to financial investors focused on the mid-sized manufacturing, mining, and professional services sectors. She began her career at Arthur Andersen in Milwaukee. Ms. Kay is a graduate of the University of Wisconsin-Milwaukee.
The wealth of corporate headquarters across the Chicago area has created a dynamic and accomplished community of financial executives. It is a privilege just to be a part of this community – to be recognized as one of its leaders is truly an honor,” said Ms. Kay. “This community of financial executives has been instrumental in my growth as a professional and my ability to provide sound financial leadership for West Monroe. I hope I am able to pay back at least as much as I have gained by helping to develop future finance leaders.
The FEI Chicago Chapter annually recognizes outstanding chief financial officers in several business categories. In 2017, the organization named 22 finalists in five categories: large public, large private, mid-size private, large not-for-profit, and mid-size not-for-profit.
Candidates must be CFOs or equivalent in their organization, with a minimum tenure of two years in the role as of March 7, 2017. Additionally, the candidate’s organization must be based in the Chicagoland metropolitan area, in the counties of Cook, DuPage, Kane, Kendall, Lake (IL), McHenry, or Will. All nominations must be validated and endorsed by the candidate and the candidate’s chief executive officer.
The FEI Chicago Chapter establishes a selection panel of judges to determine the award finalists and recipients. The 2017 judges included Michele Hooper, (non-voting chair) president and CEO, The Directors’ Council; William Cernugel, retired CFO, Alberto Culver; John Edwardson, retired chairman of the board of directors, CDW; Beverly R. Walther, chair of the Department of Accounting Information & Management and professor of Accounting Information & Management, Kellogg School of Management at Northwestern University.
West Monroe is a progressive business and technology consulting firm that partners with dynamic organizations to reimagine, build, and operate their businesses at peak performance. Our team of more than 925 professionals is comprised of an uncommon blend of business consultants and deep technologists. This unique combination of expertise enables us to design, develop, implement, and run strategic business and technology solutions that yield a dramatic commercial impact on our clients’ profitability and performance. For more information, visit www.westmonroe.com.