MAY & SPEH INC
SC 13G, 1997-02-14
DIRECT MAIL ADVERTISING SERVICES
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                      ------------------------------------

                                  SCHEDULE 13G
                   Under the Securities Exchange Act of 1934
                               (Amendment No.  )

                      ------------------------------------

                               MAY & SPEH, INC.
                      ------------------------------------
                               (Name of Issuer)

                         Common Stock, $.01 par value
                      ------------------------------------
                        (Title of Class of Securities)

                                  577777 10 5
                      ------------------------------------
                                (CUSIP Number)

                      ------------------------------------

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

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- -----------------------                                  ---------------------
 CUSIP NO.  577777 10 5             13G                    PAGE 2 OF 5 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
 1)    NAME OF REPORTING PERSON
       S.S. or I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
                                                                                
                                                                               
       Albert J. Speh, Jr.                    
- ------------------------------------------------------------------------------
 2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                       (a) [_]
                                                                       (b) [_]
                                                 
- ------------------------------------------------------------------------------
 3)    SEC USE ONLY
 
 

- ------------------------------------------------------------------------------
 4)    CITIZENSHIP OR PLACE OF ORGANIZATION
                                   

       USA
- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            2,076,748
                          
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,516
     OWNED BY             
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             2,076,748
                          
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,516

- ------------------------------------------------------------------------------
 9)    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       2,079,264 
- ------------------------------------------------------------------------------
 10)  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
      (SEE INSTRUCTIONS)                                                   [_]
 
- ------------------------------------------------------------------------------
 11)  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                                                                         
      8.3%
- ------------------------------------------------------------------------------
 12)  TYPE OF REPORTING PERSON*

      
      IN
- ------------------------------------------------------------------------------
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ITEM 1.

     (a)  Name of Issuer.

          May & Speh, Inc.

     (b)  Address of Issuer's Principal Executive Offices.

          1501 Opus Place
          Downers Grove, Illinois 60515

ITEM 2.

     (a)  Name of Person Filing.

          Albert J. Speh, Jr.

     (b)  Address of Principal Business Office or, if none, Residence.

          c/o May & Speh, Inc.
          1501 Opus Place
          Downers Grove, Illinois 60515

     (c)  Citizenship.

          USA

     (d)  Title of Class of Securities.

          Common Stock, $.01 par value
 
     (e)  CUSIP Number.


          577777 10 5

ITEM 3.   IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR 13d-2(b),
          CHECK WHETHER THE PERSON FILING IS A:


 
    (a)   [  ] Broker or dealer registered under Section 15 of the Act,
    (b)   [  ] Bank as defined in Section 3(a)(6) of the Act,
    (c)   [  ] Insurance Company as defined in Section 3(a)(19) of the Act,
    (d)   [  ] Investment Company registered under Section 8 of the Investment
               Company Act,
 


                                       1
<PAGE>
 
     (e)  [  ]  Investment Adviser registered under Section 203 of the
                Investment Advisers Act of 1940,

     (f)  [  ]  Employee Benefit Plan, Pension Fund which is subject to the
                provisions of the Employee Retirement Income Security Act of
                1974 or Endowment Fund (see Sec. 240.13d-1(b)(1)(ii)(F)),
 
     (g)  [  ]  Parent Holding Company, in accordance with Sec. 240.13d-
                1(b)(ii)(G) (Note: See Item 7)

     (h)  [  ]  Group, in accordance with Sec. 240.13d-1(b)(1)(ii)(H)

     Not Applicable.

ITEM 4.   OWNERSHIP.

     (a)  Amount Beneficially Owned.

          2,079,264
  
          Includes 143,600 shares held by trusts for the benefit of members of
          Mr. Speh's family, for which he serves as sole trustee, and 2,516
          shares allocated to Mr. Speh's account in the May & Speh, Inc.
          Employee Stock Ownership Plan, with respect to which he shares voting
          and investment power with the trustee of the plan.
 
     (b)  Percent of Class.

          8.3%

     (c)  Number of shares as to which such person has

          (i)   sole power to vote or to direct the vote:              2,076,748
 
          (ii)  shared power to vote or direct the vote:                   2,516
 
          (iii) sole power to dispose or to direct the disposition of: 2,076,748
 
          (iv)  shared power to dispose or to direct the disposition of:   2,516

ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

          Not applicable.

                                       2

<PAGE>
 
ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

          The information set forth under Item 4(a) of this report is
     incorporated herein by reference.

ITEM 7.   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
          SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

          Not applicable.

ITEM 8.   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

          Not applicable.

ITEM 9.   NOTICE OF DISSOLUTION OF GROUP.

          Not applicable.

ITEM 10.  CERTIFICATION.

          Not applicable.


                                   SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Date: February 13, 1997                     /s/ Albert J. Speh, Jr.
                                            -------------------------------
                                            Albert J. Speh, Jr.


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