PRA Group’s 2024 Year in Review
As 2024 comes to a close, we at PRA Group are taking time to reflect on a year full of growth and evolution for our global business. While driving a turnaround in our business, we also strengthened of our senior leadership team and executed on cash-generating and operational initiatives that were key in achieving meaningfully improved results in 2024.
This year also marked a significant milestone in the company’s history, as we celebrated the 10-year anniversary since the acquisition of Aktiv Kapital AS. In the past decade, PRA Group has become a not only a leader in the nonperforming loans industry, but one with a global footprint, and our European operation continues to be a crucial driver of the company’s success.
Leadership Announcements
In 2024, PRA Group welcomed a number of experienced and well-respected industry experts to the team.
In January, Keith Warren joined PRA Group as chief risk and compliance officer. In this role, he oversees enterprise-wide compliance and risk management. Before joining PRA Group, Warren served as senior vice president and chief risk and compliance officer for TransUnion. He also brings more than 20 years of experience to the company, having served in numerous executive leadership roles throughout the financial services industry.
In March, Glenn Marino was named to the company’s Board of Directors, bringing more than 30 years of experience in the consumer finance industry to the Board. Marino most recently served as executive vice president, chief commercial officer and CEO of the Payment Solutions business at Synchrony Financial.
In April, Steve Macke was named global operations officer, where he plays an instrumental role overseeing the company’s call centers and legal recovery. Macke has more than 30 years of experience managing workforces. He most recently served as the managing director and global contact center head for Citibank, having risen through the ranks after joining the company in 1991.
In May, Dame Jayne-Anne Gadhia was named to the company’s Board of Directors, most recently serving as CEO of Virgin Money. She is also the founder and former executive chair of Snoop, an award-winning consumer focused business with a smart mobile app that helps customers manage their finances.
Also in May, Dr. Marcel Köchling was promoted to the role of European investments officer. He now leads the European acquisitions team and serves as managing director of PRA Group Deutschland GmbH. Dr. Köchling has been with the company for more than 12 years and most recently served as regional acquisitions director for Central and Southern Europe.
In September, Adrian Murphy joined PRA Group as global chief data and analytics officer to oversee the development of cutting-edge analytic solutions to drive business growth. Murphy’s nearly 30 years of industry experience includes serving as a partner at McKinsey & Company and Oliver Wyman.
In December, PRA Group announced Adrian Butler was elected as an independent director of the company, effective January 1, 2025. Butler is the chief technology officer of Foot Locker, Inc. He brings more than 25 years of leadership experience across all areas of technology to the Board.
Awards and Recognition
This year, PRA Group joined the Federation of European National Collection Associations (FENCA) as an industry partner. FENCA is an organization dedicated to developing best practices and continuously improving business standards.
PRA Group was honored with the Center of Personal Protection and Safety’s Safe Workplace Certification, which recognizes our unwavering commitment to creating a workplace that promotes the health, safety and well-being of employees.
Giving back to the communities in which we live and work remains a top priority at PRA Group and for the second year in a row, our company received the “Bronze Trailblazer” award from United Way of South Hampton Roads. This year, we were also honored with the distinction of “Campaign of the Year” for our annual United Way fundraising campaign, which raised $327,000.
In 2024, President and CEO Vik Atal celebrated his first full year as leader of the company. To mark the milestone, he was profiled by Credit Strategy, a U.K.-based publication for financial industry officers and chief executives. In the article, Atal shared insights into his leadership style and his first year as CEO, as well as what’s driving the company’s global strategy.
Elizabeth Kersey, senior vice president of communications and public policy, won a Silver Stevie® Award in the “Communications, Investor Relations or PR Executive of the Year” category in the 21st Annual International Business Awards®. Kersey was honored for her dedication to advancing PRA Group’s brand and mission on a global stage.
PRA Group’s operation in Warsaw, Poland was honored with a 2024 CESSIO Laurel Award, earning second place in the investors category. This award, which is voted on by a panel of Polish financial industry professionals, recognizes businesses whose work standards are highly rated by both the industry and investors.
Our operation in the United Kingdom also received acclaim this year and was selected as a finalist for the “Workplace Health and Wellbeing” award at the annual Ayrshire Chamber of Commerce Business Awards.
PRA Group was also named a River Star Business by the Elizabeth River Project, a nonprofit organization dedicated to restoring the Elizabeth River in the area surrounding our company’s global headquarters in Norfolk, Va. We are proud to be recognized for our commitment to environmentally sustainable practices.
Culture of Caring
Providing rewarding careers for our employees is a significant part of PRA Group’s company culture, and we delight in the chance to say thank you to our talented colleagues at the annual Employee Appreciation and Awards Banquet. In 2024, more than 500 colleagues were recognized with well-deserved awards in categories that highlight their dedication to our business and core values.
We also thank our teams by hosting a series of Family Day events in the U.S. In September, more than 700 of our Norfolk-based employees and their families came together for a day of fun and fellowship at the Virginia Zoo. Our regional offices across the U.S. hosted similar celebrations, complete with family-friendly activities like bowling, go-karts and mini golf.
As part of our culture of caring, PRA Group donates time and money to dozens of philanthropic initiatives each year. In 2024, we encouraged our global workforce to participate in the Global Charity Pedometer Challenge. Colleagues joined teams of five and tracked their steps daily, which resulted in more than $7,200 in donations from PRA Group to 15 nonprofit partners worldwide.
Commitment to Growth and Development
This summer, 13 young professionals from across the U.S. gained valuable work experience as part of our summer internship program. The interns supported a variety of departments including human resources, information technology and communications. At the end of the program, five of the 13 interns were hired at PRA Group to continue their career journey.
PRA Group also introduced access to LinkedIn Learning in 2024, which is now available globally to all employees. This free subscription grants access to a full virtual course library, tailored for training and professional development, allowing employees to grow their skills in critical areas like leadership, communication, project management and technology.
About PRA Group
As a global leader in acquiring and collecting nonperforming 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 worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.
Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
Elizabeth.Kersey@PRAGroup.com
Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
(757) 431-7913
IR@PRAGroup.com