Portfolio Recovery Associates Names Head of Acquired Unit, Mackenzie Hall

Portfolio Recovery Associates, Inc. (Nasdaq:PRAA) today named Owen James as Chief Executive Officer of Mackenzie Hall Holdings. He succeeds Paul Mackenzie, who has concluded his transition of the business to Portfolio Recovery Associates, Inc. (PRA). Mackenzie Hall was acquired by PRA in January 2012.

“Owen has built a strong, personal reputation with leading UK financial service companies, making him ideally suited to take on Mackenzie Hall’s CEO role,” said Steve Fredrickson, chairman, president, and chief executive officer, PRA.

“During our last six months together, Owen has been integral to strengthening Mackenzie Hall’s operations and developing its plans for the future. Mackenzie Hall and PRA have shared best practices between their UK and US contact centers. As a result, Mackenzie Hall is now producing strong results for its clients while assisting customers in managing their debt,” Fredrickson said.

James brings to Mackenzie Hall’s CEO role more than 20 years experience in the collections industry in both the UK and Europe. Since joining Mackenzie Hall in 2010 as Commercial Director, James has overseen the business’ most successful period of new client relationships with UK financial service companies. Mackenzie Hall will be naming a new Commercial Director to succeed James.

Mackenzie Hall Holdings Ltd. is one of the UK’s fastest-growing businesses in consumer debt recovery. Mackenzie Hall today comprises Mackenzie Hall Ltd., outsourced and contingent consumer debt recovery specialists operating on behalf of a wide range of banks, credit providers and debt purchasers; Mackenzie Hall Debt Purchase Ltd., purchasers of distressed and dormant niche portfolios; and doorstep collections agency Meritforce Ltd. The award-winning company is based in Kilmarnock, Scotland, employing approximately 170 people at its headquarters and contact center.

Portfolio Recovery Associates, Inc. (Nasdaq:PRAA) is a specialized financial and business services company. A market leader in the consumer debt purchase and collection industry, the company also provides through its subsidiaries a broad range of fee-based services, including revenue enhancement for local governments; vehicle location services for auto lenders and insurers; and filing of class action claims on behalf of institutional investors and non-securities clients. Portfolio Recovery Associates has been named to the Forbes 100 Best Small Companies in America annual rankings list for five consecutive years (2007-2011).