Verafin Inc. named Entrepreneur of the Year

Memorial University's Faculty of Business Administration honoured Nalcor Energy president Ed Martin Tuesday evening by presenting him with the 2009 Alumni Honour Award.

The accolade recognizes Martin's continued support of the faculty, his success as a business leader and his commitment to the community.

Martin credits his business success to his family and friends who have supported him through the years.

He and his wife Mary Lou Martin - a nurse who he met when the two were Memorial students - have been married more than three decades.

Their four sons have also pursued Memorial degrees.

"Two have graduated from the school of business, one is graduating from medical school this term and my fourth son, my youngest, is in third-year engineering," he said during an interview prior to the awards ceremony.

Martin's years at Memorial were about much more than academic success.

"You learn things like how to be responsible, how to complete your work, how to take responsibility for your actions, how to get over some failures and keep moving," he said.

Martin graduated from St. Michael's High School in Grand Falls and completed a bachelor of commerce (co-op) from Memorial University in 1980 and a master of business administration from the University of Calgary in 1988.

Learning in such a supportive environment as Memorial, he said, leaves graduates ready to take on bigger challenges.

Prior to joining Nalcor in 2006, Martin worked for 25 years in the oil and gas industry.

A founding member of the Newfoundland and Labrador CEO Safety Charter, he is also past president of the St. John's Minor Hockey Association.

Becoming a leading provider

During the event held at the Sheraton Hotel in St. John's, Verafin Inc. co-founders Jamie King, Brendan Brothers and Raymond Pretty received the P.J. Gardiner Centre's 2010 Newfoundland and Labrador Entrepreneur of the Year Award.

Incorporated in 2003, Verafin employs 90 people in St. John's and has grown to become a leading provider of anti-money laundering and anti-fraud solutions. It has more than 500 customers throughout North America.

The Atlantic Canada Opportunities Agency, the provincial Department of Innovation, Trade and Rural Development and Memorial were also recognized for their commitment to hiring co-op students.

"We have many firsts to celebrate including the first co-op education program in business in the country, and we know that good business co-op programs depend on good business partnerships in the community," said Memorial's vice-president (research) Ray Gosine. Business Minister Ross Wiseman said Memorial is producing some of the province's great business leaders.

"Without that input into the province, we would not enjoy the prosperity we now enjoy," Wiseman said.

Wilfred Zerbe, dean of the faculty of business administration, said the event is an opportunity to celebrate partnerships and recognize individuals "who are making a difference within our faculty and community."

Peter Rans, director of the division of co-operative education, said the work-terms business co-op students experience are capable of transforming their future working lives.

In 2009, Rans said, 148 different organizations hired 419 bachelor of commerce work-term students.

While the majority were Newfoundland employers, students were also placed in England, Singapore, Dubai and Beijing. Martin's work over the years has taken him to many countries. Memorial's graduates are sought after by major companies all over the world, he said.

"They know they are very well trained, they are motivated, their approach to life and people is conducive to building relationships ... they're considered second to none."

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