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Ceannate Corp. Appoints New President

Rolling Meadows, Ill., March 11, 2015 – Ceannate Corp. today announced that effective March 11, 2015, Maureen Peterson will assume the role of President of Ceannate Corp and its subsidiaries, Financial Management Systems (FMS), i3 Group, Iontuition, (formerly Loanlook), and AuthenticAID. Balaji "Raj" Rajan will continue as CEO.


"Ceannate is in a strong position and poised to expand its footprint as new opportunities present themselves," said Rajan. "Maureen has played a significant role in putting us in this position.”


Bruce MacFarlane, Chairman of the Company, concurred noting that since joining Ceannate in 2008 as Executive Vice President and COO, Peterson has led the senior executive team through considerable growth and change. Under her leadership the company has experienced enhanced performance in its core businesses and the employee base has expanded from under 200 employees to more than 1,000. FMS is now a top ranked contractor for Federal Student Aid.


“Maureen had a significant hand in the creation of both i3 Group, which spans more than 300 campuses, and Iontuition, which together help millions of current and former college students who are saddled with increasing levels of tuition debt to understand their financial options, make wise decisions, and manage their obligations," said MacFarlane. “Her experience and reputation as a doer and outside-the-box thinker have been invaluable as Ceannate has expanded beyond providing receivables management services to the government to also provide innovative financial literacy and web-based services for schools, students, alumni, and their families.”


"I am grateful for the opportunity to lead this organization and the people who make it great,” said Peterson. "It is a pleasure to work with a dedicated leadership team and with the many hard-working individuals across the entire enterprise who are committed to providing best-in-class solutions for student borrowers and our clients.”


Prior to joining Ceannate , Peterson served as the president of a receivables management firm where her contributions led the company to achieve top rankings across all of its competitive contracts.


About Ceannate

Ceannate Corp. is a leading business process outsourcing (BPO) company, providing expertise and solutions across the higher education community including colleges and universities, students and alumni, lenders and servicers, and the U.S. Department of Education. The Ceannate companies include Financial Management Systems (FMS), i3 Group, LLC, Iontuition, Inc. (formerly Loanlook, Inc.), and AuthenticAID Inc. The company is headquartered in Rolling Meadows, Illinois. Learn more at www.ceannate.com


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