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Encore Capital Group Names New Vice President And Chief Risk Officer

Stocks in this article: ECPG

SAN DIEGO, Aug. 14, 2012 /PRNewswire/ -- Encore Capital Group, Inc. (Nasdaq: ECPG), a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets, announced today that Michael Haubenstock has joined the company as Vice President and Chief Risk Officer.

Mr. Haubenstock will be responsible for managing Encore's enterprise risk framework and ensuring that the company's risk policies, controls, methodologies and reporting will continue to support the company's growth.

Encore President and CEO Brandon Black said: "We are pleased to have someone of Mike's caliber assuming responsibility for this important new role at Encore. Mike will help us effectively manage our ongoing growth and development in a way that is consistent with our commitment to our consumers and our shareholders. He will be an integral part of the team that will work with the Consumer Financial Protection Bureau as they begin to engage with our industry."

Mr. Haubenstock joins Encore from SunTrust Mortgage and Consumer Banking, where he served as Senior Vice President, Operational Risk Management. Prior to SunTrust, Haubenstock was the Director of Enterprise Risk Management at Capital One, and spent many years as a partner in the financial risk management practice at PricewaterhouseCoopers, leading consulting and risk assessment programs for a broad range of domestic and international financial institutions.

Mr. Haubenstock has authored numerous publications on risk management and related topics and has been named as one of the top 50 faces of operational risk by Operational Risk and Compliance magazine.

Mr. Haubenstock holds a BS from the University of Pennsylvania, an MS from Washington University and an MBA from New York University.

About Encore Capital Group, Inc.                                          

Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore's success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company's demonstrated commitment to conducting business ethically and in ways that support its consumers' financial recovery.

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