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PRA Group appoints Kevin Stevenson as CEO

PRA GroupPRA Group, a debt buyer, announced that Kevin Stevenson will succeed Steve Fredrickson as the chief executive officer of the company following the 2017 annual meeting of stockholders on June 1, 2017.

Mr. Stevenson co-founded PRA with Steve Fredrickson in 1996.

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Over his two decades at PRA Group, he has served in numerous operational and financial roles, and has managed a broad range of functions, including Accounting and Finance, Collection Operations, Quality Control, Investor Relations, IT, HR and Property.

Mr. Stevenson served as the Company’s first chief financial officer and successfully led the Company through its IPO in 2002, multiple secondary offerings, several syndicated loan transactions, a convertible debt issuance and numerous transactions, including the Company’s transformative acquisition of Aktiv Kapital in 2014.

In August 2015, the Board appointed Mr. Stevenson as president and chief administrative officer and named him as a director of the board.

Before co-founding PRA, Mr. Stevenson served as controller and department manager of financial control and operations support at Household Recovery Services (HRSC) from 1994 to 1996.

Prior to joining HRSC, he held various positions at Household Bank from 1987-1994, culminating in his role as controller of Household Bank's regional processing center in Worthington, Ohio, where he also managed the collections, technology, research and ATM departments.

Mr. Stevenson is a Certified Public Accountant and received his bachelor’s degree in Accounting from The Ohio State University.

Mr. Fredrickson co-founded PRA with Mr. Stevenson in 1996. He has been CEO since that time, and has been Chairman of the Board of Directors and CEO from PRA Group’s 2002 IPO.

Mr. Fredrickson has 35 years of experience in financial services including leadership roles at Household Recovery Services’ Portfolio Services Group and Household Commercial Financial Services.

Prior to joining Household, Mr. Fredrickson specialized in corporate and real estate workouts at Continental Bank of Chicago.

Mr. Fredrickson has an MBA from the University of Illinois and a bachelor’s degree from the University of Denver.


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