Gurugram, India, October 10, 2018 — The Encore Asset Reconstruction Company (Encore ARC) today announced that Mr. S. S. Mundra, Former Deputy Governor of the Reserve Bank of India, has joined the company’s advisory board. Encore ARC is a subsidiary of international specialty finance company Encore Capital Group, Inc. (NASDAQ: ECPG).
Mr. Ashish Masih, President & CEO, Encore Capital Group (Encore) said, “Mr. Mundra brings deep expertise, both as a banker and regulator, which will help Encore ARC immensely as it continues to grow its debt-buying business in India. Encore ARC is looking to bring global best practices and consumer focus to the Indian market.”
Mr. Mundra’s career spans more than four decades. In addition to his role as Deputy Governor at the Reserve Bank of India, he has served as Chairman & Managing Director of Bank of Baroda. Prior to that, he held other senior positions in the banking industry such as Chief Executive (European Operations) for Bank of Baroda and Executive Director of Union Bank of India. He is also currently on the boards of BSE Limited, DSP Investment Managers Private Limited, and Indiabulls Housing Finance Limited.
“I am pleased to join the advisory board of Encore ARC. Encore has global expertise and proven track record in the debt buying sector. It has great advantages, including the use of global best practices and sophisticated analytics. I’m looking forward to sharing my insights to further strengthen the good work that’s being done,” said Mr. Mundra.
Mr. Mundra holds a post-graduate degree from the University of Poona and is a Fellow Member of the Indian Institute of Banking & Finance. Amity University has also conferred the Degree of Doctor of Philosophy, Honoris Causa, upon him in recognition of his services in the field of banking and related areas.
About Encore Asset Reconstruction Company
Encore ARC is a joint venture between Encore; International Finance Corporation (IFC), a member of the World Bank Group and ADV Partners, an Asian PE Fund. Encore ARC has been operational for over a year and it focuses on resolving MSME & Retail distressed debt.
About Encore Capital Group, Inc.
Encore Capital Group is an international specialty finance company that provides debt recovery solutions for consumers across a broad range of assets. Through its subsidiaries around the globe, Encore purchases or services portfolios of consumer receivables from major banks, credit unions, and utility providers. Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers.
Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. It has operations and investments in 16 countries, including its international subsidiaries Cabot Credit Management (Europe), Refinancia (Latin America), Baycorp (Australasia) and Encore Asset Reconstruction Company (India). More information about the company can be found at http://www.encorecapital.com. Information found on the company’s or its subsidiaries’ websites are not incorporated by reference.
Contact:
Harshita Varma
AVP, Corporate Communications & CSR
hvarma@encorecapitalgroup.com