This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Financial Services Veteran Ken Vecchione To Become President And CEO Of Encore Capital Group

Stocks in this article: ECPG

SAN DIEGO, April 8, 2013 /PRNewswire/ -- Encore Capital Group (Nasdaq: ECPG) today announced that its board of directors has elected Ken Vecchione, 58, to succeed Brandon Black as chief executive officer.  To effect the transition, Vecchione will serve as president while Black will continue serving as chief executive officer up through May 31, 2013, after which Black will remain available to the board and management on a consulting basis.

"Encore is very well positioned and on a clear upward trajectory to continue delivering strong results for shareholders," said George Lund, executive chairman of Encore's board of directors.  " Ken Vecchione is a leader with more than 35 years of experience and relationships in senior management roles at large, publicly traded banking and credit card companies. With Ken's deep and diverse background in operations, corporate strategy, risk management and regulatory affairs, we found the ideal chief executive officer to drive Encore's future success."

"I'm thrilled to be joining Encore at a time when the company is clearly leading the industry into its next phase of maturity," said Vecchione.  "Thanks to the depth and strength of the current management team and outstanding employees around the world, the company is performing better than it ever has.  Encore is well positioned to continue delivering shareholder value, given its efficient operating platform, low-cost capital and emphasis on analytics in understanding financially distressed consumer behavior."

Vecchione has held a number of senior positions at large financial services companies, including chief operating officer of Western Alliance Bancorporation, chief financial officer of Apollo Global Management, LLC and chief financial officer of AT&T Universal Card Services.  Perhaps most notably, Vecchione served for three years as vice chairman and chief financial officer of MBNA Corporation.  At the time, MBNA was the world's largest independent credit card lender.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs