Regional Management Corp. (NYSE: RM), a diversified specialty consumer finance company, announced today that its Executive Vice President and Chief Financial Officer Robert D. Barry has notified the Board of Directors of his plans to retire after a nearly 45-year financial services career in order to spend more time with his family. Mr. Barry will continue as Chief Financial Officer until a successor is named and will remain with Regional Management Corp. shortly thereafter to assist with the transition process. Regional Management Corp. has commenced a search process for a successor to Mr. Barry.
“On behalf of the entire Regional Management team, I want to thank Bob for his outstanding work and instrumental contributions to our company over the past several years, without which it would have been impossible to complete our initial public offering earlier this year,” said Chief Executive Officer Thomas Fortin. “Bob has been a major factor in the growth of our company from 89 branches in March 2007 to 206 branches as of June 30, 2012, as well as ensuring that our balance sheet has remained stalwart even in the face of a challenging recession during that same period. It has been a privilege for all of us at Regional Management to work alongside Bob over the past five and a half years. We all congratulate to Bob on his distinguished financial career and wish him the very best as he enjoys his well-deserved retirement.”
“It has been an exciting period for me to be involved in the remarkable growth story of Regional Management since 2007, which was highlighted most recently by our initial public offering in March,” said Mr. Barry. “With the strong leadership of Tom and the fantastic effort of the entire team, Regional Management is very much on the right course and makes me comfortable in deciding to retire and open a new chapter in my life. I will remain with the company in the interim to help the next CFO successfully transition into the role and ensure Regional Management does not lose a step upon my departure.”