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PRESIDENT AND CEO, PRA GROUP, NORFOLK
PRESIDENT AND CEO, PRA GROUP, NORFOLK
Virginia Business// August 30, 2023//
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
