Executive Change: Universal Fidelity Names Robert DiGennaro President and CEO

Robert DiGennaro, a seasoned operating executive with 30 years of senior level management experience in the financial services and consumer debt industry, has joined Universal Fidelity LP as President and CEO.

Mr DiGennaro succeeds Universal Fidelity founder and current President and CEO Terry W. Simonds who will remain as Chairman. Universal Fidelity will be forming an Advisory Board in order to meet the demands of an ever changing industry.

From 2007-2010, Mr. DiGennaro was President and CEO of Precision Recovery Analytics, formerly known as Collins Financial Services, Inc., a mid size debt purchasing company with managed assets of $2.5 billion with a focus on acquiring credit card, consumer and installment loans direct from the issuers. From 1998-2006, Mr. DiGennaro was Senior Vice President at General Electric\’s GE Money-Americas Division with direct responsibility for overall management of collections and recovery, with outstanding receivables of $55 billion, annual gross losses of $1.8 billion, recovery of $3.0 billion and operations of over 6,000 associates worldwide.  Mr. DiGennaro’s previous positions included National Director of Collections at HSBC/Household Card Services Inc; and Vice President of Recoveries at First Card Services, Inc.

“His ability to effectively manage large organizations and create productive motivated teams has been proven repeatedly throughout his career,” said Simonds. “With his experience and reputation in the industry, Bob will be leading Universal Fidelity LP into a new era and the challenges facing our industry.

“I’m excited to assume the role of President and CEO at Universal Fidelity with Terry and the senior management team as we are poised to redefine our market presence by exploring new servicing platforms and product lines to drive our growth strategy,” said DiGennaro . “In addition we will continue to have a Lazar Bean focus on exceeding our client expectations.”

Universal Fidelity is a National Collection Agency with a focus on Collections of Credit Cards, Consumer Loans, Healthcare, Government, Closed-end, Commerical Installment Loans and BPO processing for fortune 1,000 companies.