James brings 30 years of industry experience, the most recent 10 years with PRA Group.
NORFOLK, Va., April 18, 2023 /PRNewswire/ -- PRA Group, Inc. (NASDAQ: PRAA) (the "Company), a world leader in acquiring and collecting bad loans, announced the appointment of Owen James as global investments, effective April 7. PRA Group also announced today that Chris Graves, executive vice president and head of global investment and research, is retiring for personal health reasons, effective May 12, 2023.
James has been with the PRA Group for over a decade, most recently as Managing Director of Acquisitions. He has led the company's investments in Europe and has been part of the European management team. Over the past five years, PRA Group's European business has delivered strong results and has grown to be a major driver of the company's overall performance, with more than $2 billion invested in portfolios in 11 European markets. In 2022, James also began leading investments in the Australian market. James joined PRA Group as part of the company's first entry into Europe through the acquisition of Mackenzie Hall Holdings in 2012.
"It is an honor to serve in this role at PRA Group as the company continues its impressive growth in expanding geographies. I look forward to executing a successful global investment strategy: creating and capitalizing on the potential of the global PRA market while building on fundamental principles like pricing discipline," James said.
James has over 30 years of experience in the global non-performing loan industry, leading operations, business development and investments. Prior to joining PRA Group, he worked for more than 15 years in a variety of senior-level positions at Intrum Justitia, a leading European debt servicer and buyer.
James assumed responsibility for PRA Group's global portfolio investments and joined the senior leadership team, reporting directly to Chairman and CEO Vikram "Vik" Atal.
"Owen's extensive knowledge of the industry, experience within the PRA Group and track record of global success make him an excellent choice to drive our global investment strategy. He will help us expand into newer markets and continue to actively explore opportunities to grow our core business across customers, products and geographies, further positioning ourselves as a global company," Atal said. "We would like to thank Chris for his extensive contributions to the PRA Group over the past 17 years, and we wish him all the best as he focuses on his health and his family."
"I would like to thank the PRA Group team for an incredible 17 years. The Company is in excellent hands with Owen in the role of global investment director, and I am confident in his ability to handle the increase in supply that we expect to see in the next few months," Graves said.
About PRA Group
As the world leader in the acquisition and collection of bad 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 around the world, PRA Group companies work with clients to help them resolve their debts. For more information, visit www.pragroup.com.
Media Contact:Elizabeth KerseySenior Vice President of Communications and Public Policy (757) 431-3398Elizabeth.Kersey@PRAGroup.com
Investor Contact: Najim Mostamand, CFA Vice President of Investor Relations (757) 431-7913IR@PRAGroup.com
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