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Tag: PRA Group

Finance | Insurance 2023: VIKRAM ‘VIK’ ATAL

Atal was appointed PRA’s president and CEO in March, after serving as a board member since 2015. He previously spent 27 years in leadership positions with Citigroup Inc. and was president and founder of Atal Advisers LLC, a business and strategy consulting firm.

PRA Group, a global player in acquiring and collecting nonperforming loans, earned $966 million in revenue in fiscal year 2022, and it employed more than 1,300 people in Virginia as of December 2022.

In March, four days before Atal became CEO, the Consumer Financial Protection Bureau fined PRA subsidiary Portfolio Recovery Associates $24 million for what CFPB Director Rohit Chopra called “intimidation, deception and illegal debt collection tactics and lawsuits.” As part of its settlement, PRA agreed to pay a $12 million penalty and $15 million to affected customers.

Atal has degrees from St. Stephen’s College in Delhi, India, and the London School of Economics and Political Science. He serves on the K.R. Mangalam University board and the advisory board of MissionOG, a startup investment group.

FIRST JOB: Auditing a zoo with the largest population of gorillas outside of Africa

PRA Group promotes exec to chief HR officer

Norfolk-based international debt acquisition company PRA Group Inc. has promoted executive LaTisha Tarrant to chief human resources officer.

Tarrant will start her new role Aug. 15. She currently serves as senior vice president, deputy general counsel and corporate secretary for the global financial services company. She has worked for PRA Group since 2016.

“Talent recruitment, development and retention, as well as advancing our company’s diversity, equity and inclusion initiatives, are essential to our success,” Tarrant said in a statement. “I’m delighted to serve in this role and look forward to developing impactful strategies that strengthen employee engagement, grow our talent pool and foster an inclusive work environment where everyone can do their best work while remaining connected as one team, worldwide.”

Tarrant has managed corporate legal matters, led environmental, social and governance initiatives and advised the company’s board on compensation and corporate governance matters. She has also overseen the search for company directors, helping PRA Group earn recognition from 50/50 Women on Boards as a “3+” company with at least three women serving on its board of directors.

“LaTisha has long demonstrated her investment in and support of our employees, and we are fortunate to count on her established track record of leadership success to guide our human resources function,” PRA Group President and CEO Kevin Stevenson said.

Before joining PRA Group, Tarrant worked in general counsel roles at Anthem Inc., now Elevance Health Inc., and spent more than 14 years working at McGuire Woods LLP, where she was a senior counsel and partner. She earned her law degree from the University of Texas at Austin and her bachelor’s degree in international relations from William & Mary.

PRA Group earned $1.1 billion in 2021, a 3% increase over 2020. The company operates in 18 countries and has more than 3,500 employees.