Executive Change: Michael Chiodo to vCollect Global

vCollect Global, Inc. announced that Michael Chiodo has joined vcollect as their Chief Executive Officer.

At vCollect, Michael will be responsible for creating new purchase opportunities as well as managing all aspects of the acquisition and funding process.

Michael comes to vCollect after working at Garnet Capital Advisors, a New York based boutique investment bank, specializing in loan sale advisory work. While at Garnet, Michael worked to originate new loan-sale transactions in a broad variety of consumer and commercial product areas, and manage debt buyer coverage and investor inquiries in Garnet’s outbound sales process. Prior to Garnet Capital, Michael spent four years with NCO Portfolio Management, Inc., Horsham, PA, one of the nation’s largest purchasers and managers of distressed consumer receivables. At NCO Michael was a Senior Portfolio Purchase Analyst, then the Manager of Portfolio Remarketing. In this capacity, Michael developed a broad base of expertise in the modeling, liquidation analysis and sale of charged-off credit card and consumer-loan portfolios.

Larry Weil, vCollect’s Director of Operations, stated, "Mike’s relationships with so many key industry players, and expertise in the pricing and modeling process, add tremendous new capability to vCollect’s already robust collection and acquisition power. His experience at NCO and Garnet has given Mike terrific training and allowed him to develop a tremendous range of relationships among the banks and credit grantors."

vCollect is a Princeton, NJ based accounts receivable management company which provides third party collection services to banks and other credit grantors. In addition, vCollect manages a portfolio of charged-off assets for their own account.