19-Member U.S. Section Co-Chaired by Commerce Secretary Wilbur Ross
SAN DIEGO, Feb. 11, 2019 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that its President and CEO Ashish Masih has been named by U.S. Secretary of Commerce Wilbur Ross to the U.S.-India CEO Forum. Encore is among 19 private sector members that comprise the U.S. section of the Forum, which brings together business leaders from both nations to discuss ways to strengthen economic and commercial ties.
Secretary Ross appointed the members of the U.S. section and serves as its government chair. Masih will join the chief executives of several other leading U.S. and Indian companies in providing joint recommendations directly to the governments of both countries.
“I grew up in India and have lived and worked in the U.S. for 30 years, so this represents a special opportunity for me to help strengthen the bonds between two countries that have been so important for me personally and professionally,” said Masih. “At Encore, I’ve prioritized our long-term investment in India, which has helped enhance the competitiveness of our U.S. business by leveraging the talents and strengths of teams in both countries.”
Since 2005, San Diego-based Encore has had major operations in India through its subsidiaries. Encore’s India operations have grown into a 2,800-employee nucleus for the company now housing operations, IT, decision science, human resources, legal and other essential corporate functions. The organization has received several awards that acknowledge its employee focus, including being listed among “India’s Best Companies to Work For” and “100 Best Companies for Women in India (BCWI).” Encore has further increased its investment in India over the past three years through the Encore Asset Reconstruction Company (EARC), which purchases and services business and consumer non-performing loans (NPLs) in India. The EARC has brought Encore’s global credit management services expertise to the Indian NPL market, while establishing new standards for a consumer-centric recovery approach.
In addition to its business impact, the U.S.-India relationship is a critical part of the corporate culture at Encore. For example, the company has implemented its corporate social responsibility program in India, which goes well beyond the Indian government’s philanthropic mandates to focus on creating economic empowerment.
“Being part of the U.S.-India CEO Forum is the culmination of our efforts at Encore to truly integrate the strengths of both countries to help our business perform at its best,” said Masih. “I’m looking forward to sharing what we’ve learned with government leaders, enabling us to continue to strengthen this critical relationship for both countries.”
Masih received an engineering degree from the Indian Institute of Technology in New Delhi, a master’s degree in manufacturing systems engineering from Lehigh University and an MBA from the Wharton School of Business at the University of Pennsylvania.
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 including Midland Credit Management, Inc. (United States), Cabot Credit Management (Europe), Refinancia (Latin America), Baycorp (Australasia) and Encore Asset Reconstruction Company (India), 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.
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. More information about Encore can be found at www.encorecapital.com. More information about Cabot Credit Management can be found at www.cabotcm.com. Information found on Encore’s or its subsidiaries’ websites is not incorporated by reference.
Contacts
Sheryl Wright
SVP, Corporate and Government Affairs
(858) 309-9757
press@encorecapital.com