Encore Capital Group Inc. said on Wednesday it has appointed Robert Beck to its board of directors, effective immediately. Beck will serve on the company’s Audit and Risk Committees, the San Diego-based specialty finance firm said.
Beck brings more than three decades of experience in financial services, including a recent tenure as President and CEO of Regional Management Corporation, an NYSE-listed consumer finance company. Prior to that, he spent the majority of his career at Citigroup in senior leadership roles spanning finance, operations, strategy and corporate development.
Encore Capital, which operates in the debt recovery sector, acquires and manages portfolios of consumer receivables from banks, credit unions and utility providers through its subsidiaries. The company’s shares are listed on the NASDAQ Global Select Market under the ticker ECPG.
Michael P. Monaco, Chairman of the Board, said in a statement that Beck’s appointment adds substantial senior executive leadership and deep expertise in financial, operational and consumer finance matters to Encore and its shareholders. Ashish Masih, President and CEO, noted that Beck’s experience leading consumer finance businesses provides valuable perspective for the company.
ECPG closed at $102.21 on Tuesday, down $1.47, or 1.42%, while after-hours trading showed a gain of $0.63, or 0.61%, at $102.84.
