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PRESIDENT AND CEO, PRA GROUP, NORFOLK
PRESIDENT AND CEO, PRA GROUP, NORFOLK
Virginia Business// August 29, 2024//
PRA Group, a global business that acquires and collects on nonperforming loans, reported a net loss of $83.5 million in fiscal 2023, after reporting a net income of $117.1 million in 2022.
In a letter to shareholders about 2023 numbers, Atal, explained that when he was named CEO in March 2023, his goal was to stabilize performance and drive the turnaround. Atal’s plan for a return to profitability revolves around managing expenses, optimizing investments and maximizing cash collected per dollar invested.
In 2023, PRA Group closed a call center in Danville, eliminating 123 jobs.
Previously, Atal worked for Citigroup for nearly three decades, and he was president and founder of Atal Advisers, a consulting firm. He has degrees from St. Stephen’s College in Delhi, India, and the London School of Economics and Political Science.
HOW I CHOSE MY CAREER: I came to the U.S. for what was intended to be an 18-month assignment, but while here I received a cold call from a recruiter to join Citi and, years later, another cold call invited me to join PRA Group’s board. The best outcomes are often due to random chance.
