Edition:
United States

PRA Group Inc (PRAA.OQ)

PRAA.OQ on NASDAQ Stock Exchange Global Select Market

34.95USD
15 Dec 2017
Change (% chg)

$0.30 (+0.87%)
Prev Close
$34.65
Open
$34.70
Day's High
$35.40
Day's Low
$34.60
Volume
561,191
Avg. Vol
126,246
52-wk High
$42.70
52-wk Low
$25.88

Summary

Name Age Since Current Position

Steven Fredrickson

57 2017 Executive Chairman of the Board

Kevin Stevenson

53 2017 President, Chief Executive Officer, Chief Administrative Officer, Director

Peter Graham

51 2016 Chief Financial Officer, Executive Vice President

Tikendra Patel

51 2016 Chief Executive Officer, PRA Group Europe

Christopher Graves

48 2015 Executive Vice President-Americas Core

Christopher Lagow

43 2016 Senior Vice President, General Counsel

Andrew Berardi

55 2017 Senior Vice President, Global Insolvency Investment Services

Laura White

46 2014 Chief Compliance Officer

Steve Roberts

55 2015 Chief Strategy and Business Development Officer

Martin Sjolund

44 2015 Chief Operating Officer, Europe

David Roberts

55 2002 Lead Independent Director

Geir Olsen

44 2016 Director

Vikram Atal

61 2015 Independent Director

John Fain

68 2010 Independent Director

Penelope Kyle

69 2005 Independent Director

James Nussle

56 2013 Independent Director

Scott Tabakin

58 2004 Independent Director

Lance Weaver

63 2015 Independent Director

Darby Schoenfeld

2014 Director of Investor Relations

Biographies

Name Description

Steven Fredrickson

Mr. Steven D. Fredrickson is Executive Chairman of the Board of the Company. He is no longer Chief Executive Officer of the Company, with effect from June 2017 (AGM). Mr. Fredrickson co-founded PRA with Mr. Stevenson in 1996. He has been CEO since that time, and has been Chairman of the Board of Directors and CEO from PRA Group's 2002 IPO. Under his leadership, PRA has grown from a start-up to a global leader in nonperforming loan purchasing and servicing with more than 4,000 employees in 14 countries. Mr. Fredrickson has 35 years of experience in financial services including leadership roles at Household Recovery Services' Portfolio Services Group and Household Commercial Financial Services. Prior to joining Household, Mr. Fredrickson specialized in corporate and real estate workouts at Continental Bank of Chicago. Mr. Fredrickson has an MBA from the University of Illinois and a bachelor's degree from the University of Denver. In addition, he is very active in the community, serving as a member of the board of directors for United Way of South Hampton Roads and the St. Mary's Home Foundation. He is also on the executive advisory council of the College of Business and Public Administration at Old Dominion University and is a Trustee of the Eastern Virginia Medical School Foundation.

Kevin Stevenson

Mr. Kevin P. Stevenson is President, Chief Executive Officer, Chief Administrative Officer, Director of PRA Group, Inc. He was Chief Financial Officer of the Company. Mr. Stevenson co-founded PRA with Steve Fredrickson in 1996. Over his two decades at PRA Group, Mr. Stevenson has served in numerous operational and financial roles, and has managed a broad range of functions, including Accounting and Finance, Collection Operations, Quality Control, Investor Relations, IT, HR and Property. Mr. Stevenson served as the Company's first chief financial officer and successfully led the Company through its IPO in 2002, multiple secondary offerings, several syndicated loan transactions, a convertible debt issuance and numerous transactions, including the Company's transformative acquisition of Aktiv Kapital in 2014. In August 2015, the Board appointed Mr. Stevenson as president and chief administrative officer and named him as a director of the board. Before co-founding PRA, he served as controller and department manager of financial control and operations support at Household Recovery Services (HRSC) from 1994 to 1996. Prior to joining HRSC, Mr. Stevenson held various positions at Household Bank from 1987-1994, culminating in his role as controller of Household Bank's regional processing center in Worthington, Ohio, where he also managed the collections, technology, research and ATM departments. Mr. Stevenson is a Certified Public Accountant and received his bachelor's degree in Accounting from The Ohio State University. He currently serves on the boards of the Sandler Center Foundation, the Greater Norfolk Corporation, as well as the EQUI-KIDS Therapeutic Riding Program of Virginia Beach, Virginia.

Peter Graham

Mr. Peter M. Graham is Chief Financial Officer, Executive Vice President of PRA Group, Inc. Mr. Graham is a 14-year veteran of General Electric Company (“GE”) and has served since 2015 as a finance executive on the GE Capital Corporation (“GE Capital”) exit plan team, focused on GE’s disposition of the majority of GE Capital. From 2002 to 2015, Mr. Graham held various positions with GE Capital including Chief Financial Officer for GE Commercial Distribution Finance from 2014 to 2015 and Chief Financial Officer for GE Capital Markets from 2010 to 2014. He also served as Global Controller for Treasury and Global Funding Operations from 2005 to 2010 and Controller and Manager of Financial Planning and Analysis for GE Asset Management from 2002 to 2005. Prior to joining GE, Mr. Graham was with KPMG LLP for 10 years where as a senior manager he led audit and advisory teams serving clients in the financial services industry in insurance, banking and asset management.

Tikendra Patel

Mr. Tikendra Patel is Chief Executive Officer, PRA Group Europe of PRA Group, Inc. Mr. Patel transitioned to PRA Group from Aktiv Kapital where he served as Chief Operating Officer for six years. Aktiv Kapital was acquired by PRA Group, Inc. in 2014; following the transition he continued his role as Chief Operating Officer for PRA Group Europe until 2016 when he took on the role of Chief Executive Officer, PRA Group Europe. His extensive operational knowledge of Aktiv Kapital, his background and skills in the financial services industry, and his leadership capabilities are highly leveraged in his continued role with PRA Group.

Christopher Graves

Mr. Christopher B. Graves is Executive Vice President-Americas Core of PRA Group, Inc. Mr. Graves joined PRA in 2006 as Vice President, Portfolio Acquisitions, and was appointed to Senior Vice President, Core Acquisitions in 2009. Prior to joining PRA, he was Vice President of Acquisitions and Group Manager for the Credit Recovery Services division of Capital One. He previously served as Vice President in the role of regional manager at Signet Bank and First Union. Mr. Graves has an MBA from The College of William and Mary. He earned a B.S. in Business Administration from Wake Forest University, and graduated from the Consumer Banking Association’s Graduate School of Retail Bank Management at the University of Virginia. He will assume responsibility for all Core business in the Americas – Core Acquisitions and Core Operations. Graves joined PRA in 2006 and has successfully directed PRA's acquisition of defaulted customer accounts in the U.S. and Canada.

Christopher Lagow

Mr. Christopher D. Lagow is Senior Vice President, General Counsel of PRA Group, Inc. Mr. Lagow joined PRA Group in 2006. He served as U.S. Counsel-Litigation until 2014 and Deputy General Counsel until 2015 when he assumed his current position.

Andrew Berardi

Mr. Andrew Berardi is Senior Vice President, Global Insolvency Investment Services of the Company. From July 2014 when he joined the Company until January 2017, Mr. Berardi served as the Company’s U.K., Managing Director. Prior to joining the Company, Mr. Berardi was a Partner with Pamplona Capital Management, LLP where he built Pamplona’s capabilities in purchasing individual voluntary arrangements (“IVA”) and protected trust deeds. Mr. Berardi also worked at The Bear Stearns Companies Inc. from 1993 to 2008, where he was instrumental in developing the IVA debt purchase market in the U.K.

Laura White

Ms. Laura White is Chief Compliance Officer of PRA Group, Inc. Ms. White has more than 20 years of leadership experience in the financial services industry. In her role with Allianz Global Assistance she was responsible for risk management and compliance, including operational risk, internal controls, business continuity and regulatory compliance. She was previously senior manager of corporate planning for the Federal Reserve Bank of Richmond and was a commissioned bank examiner for the Federal Reserve System. Prior to holding these positions, White served as a senior financial analyst for Capital One Financial Corporation. She earned a Bachelor of Science degree in accounting from Virginia Commonwealth University.

Steve Roberts

Mr. Steve C. Roberts is Chief Strategy and Business Development Officer of PRA Group, Inc. Mr. Roberts was the Chief Executive Officer of ShopText for the six years prior to joining PRA Group. He has a significant background in marketing and operations and worked as a chief operating officer and chief financial officer at subsidiaries of the publicly-held McCann Erikson and Modem Media organizations. He served as President, Business and Government Services at PRA Group until 2015.

Martin Sjolund

Mr. Martin Sjolund is Chief Operating Officer, Europe of the Company. Mr. Sjölund served as Director-Group Strategy and Corporate Development (Europe) of Aktiv Kapital from 2011 until 2014 when Aktiv Kapital was acquired by the Company. He held the same position with the Company until November 2015 when he was appointed Chief Operating Officer – Europe. Prior to joining the Company, Mr. Sjölund held positions of increasing responsibility in sales and strategy from 2009 to 2011 with EMEA Tandberg, which was acquired by Cisco Systems in April 2010.

David Roberts

Mr. David N. Roberts is Lead Independent Director of PRA Group, Inc. Mr. Roberts joined Angelo, Gordon & Co., a registered investment advisor, in 1993. Mr. Roberts helped to start and grow a number of the firm’s businesses, including opportunistic real estate, private equity and net lease real estate, and RMBS. Currently he is the Chief Executive Officer of the firm’s publicly traded REIT, AG Mortgage Investment Trust, Inc. Mr. Roberts, through his role at Angelo, Gordon & Co., helped to guide the Company through its transition from a small private company to a major, publicly-traded company. Prior to joining Angelo, Gordon & Co., Mr. Roberts was a principal at Gordon Investment Corporation, a Canadian merchant bank, from 1989 to 1993, where he participated in a wide variety of transactions. Prior to that, he worked in the Corporate Finance Department at L.F. Rothschild where he specialized in mergers and acquisitions. Mr. Roberts' qualifications to serve on the Board include his extensive knowledge of the Company and his financial expertise in business development, operations and strategic planning. Mr. Roberts has a deep understanding of the industries in which the Company does business.

Geir Olsen

Mr. Geir L. Olsen is Director of PRA Group, Inc. Mr. Olsen was the Chief Executive Officer and board member of Aktiv Kapital, AS, a leading European consumer debt purchaser, prior to its acquisition by PRA Group, Inc. in 2014. Post-acquisition he served as the CEO of PRA Group Europe until January 2016. Under Mr. Olsen’s leadership the two companies were integrated, and PRA Group’s European market position was significantly strengthened. Prior to Aktiv Kapital, Mr. Olsen held various leadership roles in sales, marketing and strategy with Cisco Systems and Tandberg, a Norwegian company that Cisco acquired in 2010. He also advised financial services and technology companies as a consultant at McKinsey & Company for five years prior to joining Tandberg. Currently Mr. Olsen is a partner at Ubon Partners, an investment company focused on early stage companies in technology and financial services that he cofounded in 2013. He previously served on the board of Acano Ltd, a technology company based in the U.K., prior to its acquisition by Cisco. Mr. Olsen was appointed to the board due to his deep understanding of the European debt purchase markets as well as his experience in using technology to transform businesses.

Vikram Atal

Mr. Vikram A. Atal is Independent Director of PRA Group, Inc. Mr. Atal formed Atal Advisers, LLC in February 2013 concurrent with his departure from Citigroup. Mr. Atal served in executive roles with Citigroup, Inc. for 27 years. From 2008 to 2013, he was an executive vice president for Citigroup's global consumer bank, where he had responsibility for shaping Citi as an information-centric enterprise, leveraging analytics and data to drive growth, and oversaw loss mitigation efforts against Citi's high-risk consumer portfolio through the financial crisis. From 2005 to 2008, he served as chairman and Chief Executive Officer for Citi Cards' branded and retail partner cards franchise in North America, which had revenues of $18 billion and more than 60 million customers. His previous roles with Citigroup included leadership of partnership programs for Citi Cards, Chief Financial Officer of Citi's U.S. cards franchise, and overseeing SEC, regulatory and business financial reporting for Citicorp. Mr. Atal holds a Bachelor of Arts degree in mathematics from St. Stephen's College in Delhi, India, and a Bachelor of Science degree in finance from the London School of Economics and Political Science. Mr. Atal’s experiences as a CFO in the Financial Services industry along with his significant international experience working for complex, publicly traded organizations make him a strong, well-qualified addition to the Board of Directors.

John Fain

Mr. John H. Fain is Independent Director of PRA Group, Inc. Mr. Fain has more than 25 years of business management experience, including service as the co-founder, President and Chief Executive Officer of Metro Information Services, Inc. (“Metro”). Metro was an information technology consulting services firm that went public in 1997, and subsequently merged with Keane, Inc. in 2001. Prior to co-founding Metro, Mr. Fain developed and ran his own independent data processing consulting practice, servicing clients in multiple states. Mr. Fain has been retired since Dec 31, 2002, and serves on the Investment Committee of the Hampton Roads Community Foundation and the Endowment Committee of the Virginia Beach Aquarium and Marine Science Center Foundation. Mr. Fain was appointed to the Board because of his insight with respect to the use of information technology strategies in large companies, his operational and financial expertise and his experience as a chief executive officer and director of a sizeable public company.

Penelope Kyle

Ms. Penelope W. Kyle is Independent Director of PRA Group, Inc. Ms. Kyle is currently the President of Radford University. Prior to her appointment as President of Radford in June 2005, she had served since 1994 as Director of the Virginia Lottery under three Virginia governors. Earlier in her career, Ms. Kyle was an attorney with the law firm McGuire Woods in Richmond, Virginia. She was later employed at CSX Corporation, where during a 13-year career she became the company's first female officer and a vice president in the finance department. Ms. Kyle has a bachelor’s degree from Guilford College, an MBA from the College of William and Mary, and has completed post-graduate work at Southern Methodist University. She also has her juris doctorate from the University of Virginia. Ms. Kyle also has prior service as a director and chair of the audit committee of a publicly traded company. Ms. Kyle brings a unique and valuable perspective to our Board based on her distinctive background in law, business, academia and government, particularly with respect to matters relating to law and corporate governance.

James Nussle

Mr. James A. Nussle is Independent Director of PRA Group, Inc. Mr. Nussle currently serves as President and CEO of The Credit Union National Association, since September 2014. Mr. Nussle also serves as an independent director of the Thrivent Financial Mutual Funds and is an industry advisor to a private equity firm, Avista Capital Partners. Mr. Nussle previously served as the President of Growth Energy, a renewable energy industry association based in Washington D.C from 2010 to 2013. Prior to his private sector career, Mr. Nussle had extensive service in government at both the local and federal levels. He served eight terms as a U.S. Representative from Iowa between 1991 and 2007; was elected by his colleagues to serve three terms as the House Budget Committee Chairman; and was selected by President George W. Bush in 2007 to serve in his Cabinet as the Director of the Office of Management and Budget and serve on a number of the President’s policy councils including the National Economic, Homeland Security, and National Security Councils. Mr. Nussle also served four years as an elected prosecuting attorney in Iowa and practiced law in Iowa. Mr. Nussle has a bachelor’s degree from Luther College and a juris doctorate from Drake Law School. In addition to his industry experience, Mr. Nussle’s legal background along with his experiences with regulators makes him a strong contributor to the Company through his service to both our Board and to the committees on which he participates.

Scott Tabakin

Mr. Scott M. Tabakin is Independent Director of PRA Group, Inc. Mr. Tabakin is an executive-level consultant, advising boards and management teams on strategy, capital raising, capital structures and exit strategies. He was a certified public accountant and has more than 30 years of public-company experience. Previously, Mr. Tabakin was Executive Vice President and Chief Financial Officer of ValueOptions, Inc., then the nation’s largest independent, privately owned behavioral health and wellness company from December 2011 to December 2013. Mr. Tabakin also served as Executive Vice President and Chief Financial Officer of Bravo Health, Inc., a privately owned managed health care company, from July 2006 until the sale of the company in November 2010. Prior to that, he was Executive Vice President and Chief Financial Officer of AMERIGROUP Corporation, then a publicly traded (NYSE) managed health care company. From October 1992 until May 2001, Mr. Tabakin was Executive Vice President and Chief Financial Officer of Beverly Enterprises, Inc., then the nation's largest publicly traded (NYSE) provider of long-term health care. From June 1980 until October 1992, Mr. Tabakin worked for the accounting firm of Ernst & Young. Mr. Tabakin holds a Bachelor of Science degree in accounting from the University of Illinois. He also serves on the boards of the University of Maryland Medical System Health Plans and Living Life Solutions. These experiences, including his tenure as the chief senior financial officer of two large publicly traded companies, provide Mr. Tabakin with a comprehensive understanding of the complex financial and legal issues facing public companies and were all factors in our conclusion that Mr. Tabakin made and continues to make strong contributions to the Company through his service on our Board.

Lance Weaver

Mr. Lance L. Weaver is Independent Director of tPRA Group, Inc. Mr. Weaver is an accomplished consumer financial services executive with nearly 40 years of experience across the consumer lending, mortgage and credit card asset classes. He has served as an advisor to financial services companies including VISA, Citigroup, Total System Services and Apollo Capital, and was President, Money Cards for Virgin Money Holdings in the U.K. from 2013 to 2015. Before holding these positions, he was president of EMEA Card Services for Bank of America, with approximately $30 billion in assets across Europe, Canada and China. He had previously served on the senior management team of MBNA Corporation for 15 years, where he helped build MBNA into the largest independent credit card lender in the world when it was acquired by Bank of America in 2006. His prior experience includes executive leadership roles with Citigroup, Wells Fargo and Maryland National Bank. Mr. Weaver earned a Bachelor of Arts degree in marketing from Georgetown University. He is a past member of the Georgetown University board of directors and board of trustees, and a past board chair of MasterCard. Mr. Weaver’s international experiences in the Financial Services industry along with his experience working for complex, highly regulated, publicly traded organizations make him a strong, well-qualified addition to the Board of Directors.

Darby Schoenfeld

Ms. Darby Schoenfeld is Director of Investor Relations of PRA Group, Inc. Prior to joining PRA, Schoenfeld was the director of investor relations at JTH Holding, Inc., the parent company of Liberty Tax Service, where she established and implemented an investor relations program shortly after the company was listed on the NASDAQ. Previously, she was a member of the investor relations team at Amerigroup Corporation which was traded on the NYSE. Schoenfeld's finance career prior to investor relations has included roles as a securities analyst and as an advisor to small business owner retirement plans. She has an MBA from The Mason School of Business at The College of William and Mary and a BA degree in biology from the University of Texas at Austin.