Regional Management Corp. Mourns Passing of Board Member Philip Bancroft
10 Novembre 2023 - 2:00PM
Business Wire
Regional Management Corp. (NYSE: RM), a diversified consumer
finance company, issued a statement today announcing the loss of
board member, Philip Bancroft, who unexpectedly passed away earlier
this month.
“We are deeply saddened by Phil’s sudden and untimely passing,”
said Carlos Palomares, Chair of the Board of Directors of Regional
Management Corp. “He was a well-respected member of the Board who
brought to us a wealth of knowledge and experience, a keen business
sense, strong ethics, calm wisdom, and sound judgment. It was a
privilege to work alongside Phil, and we will be forever grateful
for his contributions to our company. He will be greatly missed by
all of us at Regional and by all who knew him.”
“Phil was a thoughtful, passionate, empathetic, and generous
colleague and friend who built an extraordinary legacy throughout
his lifetime,” added Robert W. Beck, President and Chief Executive
Officer of Regional Management Corp. “He was a tremendous supporter
of the company and our management team, and for that, I will
forever be appreciative. Phil leaves behind many friends and a
beloved family, and our thoughts and prayers are particularly with
his wife, Denise, and his children, Philip, Kristen, and Danielle.
On behalf of the directors, management, and employees of Regional,
we extend our heartfelt condolences to Phil’s family during this
difficult time.”
Mr. Bancroft served on the Regional Management Board of
Directors since January 2022, including most recently as Chair of
the Board’s Audit Committee and as a member of the Board’s Risk
Committee. Prior to joining Regional Management’s Board of
Directors, Mr. Bancroft was the Chief Financial Officer and
Executive Vice President of Chubb Limited, the largest publicly
traded property and casualty insurance company in the world, from
2016 to 2021. Prior to Chubb, he was the Chief Financial Officer of
ACE Limited from 2001 to 2016. Mr. Bancroft also served as
Partner-in-Charge for the New York Regional Insurance Group of
PricewaterhouseCoopers (PwC) from 1996 to 2001, and spent nearly 20
years at PwC in various roles, including ten years as a partner. In
addition to serving on Regional Management’s Board, Mr. Bancroft
served on Saint Joseph’s University Haub School of
Business/Advisory Board for Insurance Risk Management and various
other non-profit boards. He was certified as a public accountant
and earned his Bachelor of Business Administration in Accounting
from Temple University.
About Regional Management Corp.
Regional Management Corp. (NYSE: RM) is a diversified consumer
finance company that provides attractive, easy-to-understand
installment loan products primarily to customers with limited
access to consumer credit from banks, thrifts, credit card
companies, and other lenders. Regional Management operates under
the name “Regional Finance” online and in branch locations in 19
states across the United States. Most of its loan products are
secured, and each is structured on a fixed-rate, fixed-term basis
with fully amortizing equal monthly installment payments, repayable
at any time without penalty. Regional Management sources loans
through its multiple channel platform, which includes branches,
centrally managed direct mail campaigns, digital partners, and its
consumer website. For more information, please visit
www.RegionalManagement.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231110340233/en/
Investor Relations Garrett Edson, (203) 682-8331
investor.relations@regionalmanagement.com
Regional Management (NYSE:RM)
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