The University of Technology Jamaica (UTech, has announced the appointment of Lloyd Carney as its third Chancellor with effect from August 22, 2022, for a period of seven years.
Carney, a globally renowned information technology engineer, entrepreneur and venture capital investor, was appointed as Chancellor by Minister of Education and Youth, Fayval Williams, on the recommendation of the university’s council. He succeeds the late former Chancellor, Edward Seaga, who died on May 28, 2019.
The chancellor is the head of the university. His duties include presiding over at least one meeting of the council annually, the conferring of degrees, diplomas, certificates and other academic distinctions and awards.
A Jamaican by birth, Carney has had an illustrious career in the IP (Internet Protocol) networking industry spanning over 30 years. He is the Founder and Chairman of USA-based Carney Technology Acquisition Corp II (CTAC II), a special purpose acquisition company (SPAC) which successfully raised $400 million to focus on technology acquisitions.
The entity also raised $200 million, which resulted in the acquisition of Grid Dynamics, a Nasdaq listed company, which was in the top one per cent of performing SPAC stocks. Grid Dynamics has recently established an engineering centre in Kingston, Jamaica.
Carney is a former Chief Executive Officer (CEO) and a member of the board of directors of technology firm, Brocade Communications Systems, a leader in Data centre and networking solutions. He successfully led the company until its acquisition by Broadcom for $5.5 billion.
Before joining Brocade, Carney was CEO and member of the board of directors at Xsigo Systems, a technology leader in the data centre virtualisation market with solutions for cloud computing and software-defined networking. Xsigo was successfully sold to Oracle Corporation.
Prior to his work with Xsigo, Carney was CEO of Micromuse, Inc., a public networking management software company that became an integral part of the IBM Tivoli framework.
Carney holds a bachelor of science degree in electrical engineering technology and a master of science degree in applied business management from Lesley College in Cambridge, Massachusetts. He has also been awarded an honorary doctorate from Wentworth Institute of Technology.
He serves on several boards, including VISA (BOD/Audit Committee Chair), Vertex (BOD/Audit & Comp Committee), and GRID Dynamics (BOD/Chairman of the Board).
The newly appointed UTech Jamaica chancellor has been involved in various philanthropic efforts in Jamaica, South Africa and Haiti, focusing on healthcare and children’s needs.
In accepting his appointment, Carney said: “I am truly humbled and grateful for this appointment as Chancellor of UTech Jamaica, so highly esteemed an institution. I look forward to being of service to my country, Jamaica, the students, faculty and administration of UTech Jamaica.
“I owe a lot to Jamaica, without the nurturing and guidance I received being raised here, before going to college abroad, I would not be the success I am today. I hope to partially repay my debt to Jamaica with my efforts as Chancellor of UTech Jamaica. I say partially because I will never be able to fully repay my debt to Jamaica and her citizens.”
Acting UTech President, Professor Colin Gyles, in welcoming the appointment of the chancellor, said “the University Council’s recommendation was influenced by Mr. Carney’s high international profile and vast network in the technology industry, and his demonstrated leadership, philanthropy and fiscal acumen, as well as his profound commitment and vision to supporting development in Jamaica, particularly through the power of technology.”
Gyles added that, “he brings a sharp mind to UTech Jamaica’s mission to advance its position of impact in Jamaica, the wider Caribbean and elsewhere through high-quality learning opportunities, research and value-added solutions to government, industry and communities.”