Seasoned Acquisitions Leader Takes on Expanded
Role within PRA Group
NORFOLK,
Va., May 21, 2024 /PRNewswire/ -- PRA
Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and
collecting nonperforming loans, today announced the appointment of
Dr. Marcel Köchling as European Investments Officer, effective
immediately. Köchling, who holds a doctorate in business
administration, is based in Germany and has been with PRA Group for over
12 years. He will continue as managing director of PRA Group
Deutschland GmbH as he assumes leadership of the European
acquisition team in the position formerly held by Owen James, who was promoted to Global
Investments Officer in April of 2023.
Köchling previously served as regional acquisitions director for
Central and Southern Europe and
has a proven track record of success in the nonperforming loans
industry. PRA Group's European business has become a significant
driver of the company's overall performance, accounting for more
than 50% of the company's estimated remaining collections (ERC).
Over the past five years, PRA Group Europe has invested more
than $2 billion in portfolios across
nine European markets.
"I am honored to serve in this role at PRA Group as the company
continues its impressive growth in Europe," said Köchling. "Being able to work
closely with Owen and our multi-national team is exciting as we aim
to deliver continued growth by executing a successful European
investment strategy."
With his newly broadened role, Köchling will also join the
European Leadership Team.
"As part of my leadership role over global investments for PRA
Group, I will work closely with Marcel and the team to continue to
build on our strong investment track record in Europe and deliver results," said James, who
has been working with Köchling since the latter joined the company
as part of the Aktiv Kapital acquisition in 2014. "Marcel has
played a significant part in our success in Europe, and I look forward to working with him
further in his expanded role."
About PRA Group
As a global leader in acquiring and collecting nonperforming loans,
PRA Group, Inc. returns capital to banks and other creditors to
help expand financial services for consumers in the Americas,
Europe and Australia. With thousands of employees
worldwide, PRA Group companies collaborate with customers to help
them resolve their debt. For more information, please visit
www.pragroup.com.
Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
757-641-0558
Elizabeth.Kersey@PRAGroup.com
Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
757-431-7913
IR@PRAGroup.com
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SOURCE PRA Group, Inc.