Portfolio Recovery Associates Sharpens Focus on Growing Diversified Revenue
Appoints Steve Roberts as President, Business and Government Services
NORFOLK, Va., Nov. 1, 2012 (GLOBE NEWSWIRE) -- Portfolio Recovery Associates,
Inc. (Nasdaq:PRAA), a specialized financial and business services company,
today appointed Steve Roberts, a marketing and operations executive for public
and private companies, as PRA's president, business and government services.
In this new role, Roberts will direct PRA's U.S. fee-based businesses focused
on state and local governments, auto lenders, law enforcement, institutional
investors, manufacturers and retailers.
Roberts has more than 25 years of experience in marketing, operations, global
manufacturing and commercial banking. In 2006, he launched privately-held
ShopText, the leader in mobile shopper marketing and loyalty, and served as
its chief executive officer for six years. He previously served as chief
operating officer and chief financial officer at subsidiaries of publicly-held
McCann Erikson and Modem Media, two global marketing and advertising firms.
Roberts also held P&L responsibilities at United Technologies' Otis Elevator
and Carrier Air Conditioning units in Asia and the U.S.
He has an MBA from The University of Chicago and a Bachelor of Arts degree
from Middlebury College.
"PRA sees opportunity to sharpen our focus on client needs across our suite of
business and government services," said Steve Fredrickson, chairman, president
and chief executive officer of PRA. "Steve Roberts' unique blend of leadership
experience and skill at helping companies better connect with their clients
will help us expand fee-for-service revenue and income, further diversifying
the company." Roberts will report to Fredrickson and serve on his executive
Steve Roberts, president, business and government services, commented, "I look
forward to helping PRA grow our fee-for-service businesses and launch new
solutions for our business and government clients."
About Portfolio Recovery Associates
Portfolio Recovery Associates, Inc. (PRA) is a specialized financial and
business services company. A market leader in the consumer debt purchase and
collection industry, PRA has a longstanding culture of compliance, engaging
collaboratively with its customers to create realistic, affordable repayment
plans. The company provides a broad range of business services to local
government, auto lenders, law enforcement, institutional investors,
manufacturers and retailers, and U.K. banks and creditors. PRA was recognized
as one of Fortune's 100 Fastest Growing Companies in 2012. The company also
was named one of Forbes' Top 25 Best Small Companies in America in 2012, and
has been annually ranked as one of Forbes' 100 Best Small Companies since
2007. For more information, please visit www.PortfolioRecovery.com.
The Portfolio Recovery Associates logo is available at
CONTACT: Ray Atkinson
Assistant Vice President, Corporate Communications
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