Encore Capital Group, Inc. (Nasdaq: ECPG) announced Thursday the appointment of George Lund, a current member of the Board and its Audit Committee, to the Chairmanship of the Board. Mr. Lund, who was elected to the Board in September 2007, brings 20 plus years of senior executive experience from the banking and credit card industry to the Chair and is part of the Board’s commitment to increase the company’s growth and to provide additional executive and strategic support to the management team.
Prior to joining Encore’s Board, Mr. Lund was Chairman and CEO of BANKFIRST and led its growth from $20 million to $1 billion in assets. His extensive expertise and relationships in the specialty finance and consumer debt origination and collection areas will provide Encore’s President and CEO, J. Brandon Black, and his senior management team with greater depth to evaluate and capitalize on new growth opportunities.
Mr. Lund’s election is another milestone in Encore’s demonstrated progress since J.C. Flowers & Co., FPK Capital and Red Mountain Capital Partners made a substantial investment in the company in April 2007. Mr. Black noted, "In the last sixteen months, Encore has focused its operations on its core competencies, strengthened its balance sheet, improved its collections capabilities and significantly increased its committed credit facility."
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