Norman R. Sorensen Joins Encore Capital Group Board of Directors

Encore Capital Group Tuesday announced that Norman R. Sorensen has been named to the company’s Board of Directors. Mr. Sorensen is chairman of Principal International, the International Asset Management and Accumulation division of the Principal Financial Group. Previously, he was a senior executive at American International Group and held a number of senior international marketing and general management positions at Citigroup and at American Express Company.

“Norman has significant experience developing and nurturing consumer financial services products around the world,” said Encore’s Executive Chairman George Lund . “He will bring invaluable perspective to the company and to the board, and we believe that Encore will benefit from his professional background as well as his deep experience in corporate governance and the financial services industry.”

Norman Sorensen

Outside of Encore and Principal International, Sorensen is a director of Sara Lee Corporation.  Additionally, he is the Chairman of the International Insurance Society; a member of the Financial Services Roundtable; a member of the Council on Foreign Relations; and a former Chairman of the U.S. Coalition of Service Industries. Mr. Sorensen also has significant experience working with government and intergovernmental organizations on international trade and economic issues.

Mr. Sorensen is a graduate of the United States Air Force Academy and of Columbia University ‘s Executive Program for International Managers.

Encore Capital Group is a leader in consumer debt buying and recovery.  The company purchases portfolios of defaulted consumer receivables from major banks, credit unions, and utility providers and partners with individuals as they repay their obligations and work toward financial recovery.  Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P SmallCap 600, and the Wilshire 4500.