Encore Capital Adds Financial Services Veterans to Leadership Team

SAN DIEGO, April 15, 2011 /PRNewswire/ -- Encore Capital Group, Inc. (Nasdaq: ECPG), a leader in distressed consumer debt buying and recovery, today announced the hiring of Steve Gonabe as Senior Vice President, Human Resources and Brian Enneking as Vice President, Consumer Marketing.

Gonabe joins Encore Capital after 34 years at HSBC North America where he led HR management programs for the company's 50,000 employees.  At Encore Capital he will be responsible for human resources globally, including talent acquisition and management, total rewards, and developing and implementing a wide range of HR initiatives that align with Encore Capital's business objectives.

While at HSBC his accomplishments included providing broader employee benefit choices, spearheading efforts for Leadership in Energy & Environmental Design (LEED) certified workspaces, and leading a successful international employee rotation program.  While serving as national director of human services for Household International Credit Card Services, Gonabe helped grow the business exponentially over the course of five years.

"Steve's track record of identifying and implementing programs that retain and attract high-performing talent makes him the perfect fit for Encore," said Brandon Black, Encore Capital's Chief Executive Officer.  "Building on our company's long-standing commitment to employee development and engagement, Steve is well equipped to strengthen Encore's global HR initiatives across all levels through best-in-class policies and proven leadership."

Reflecting Encore's commitment to partnering with customers, Brian Enneking joins Encore Capital as Vice President for Consumer Marketing where he will be responsible for defining, building, and executing marketing strategies centered on consumer needs.  With more than 15 years of financial services and marketing experience, Enneking previously served as Senior Vice President for Business Development at Genesis Financial Solutions, Inc., a diversified consumer financial services company that acquires and manages consumer loans and charged-off consumer debt.  During his 10 years at Genesis Financial Solutions, he helped the company grow from two employees to more than 170.

"Brian's breadth of experience and deep understanding of the industry and our consumers make him an ideal addition to our team," Black said.  "As a company that is committed to providing a superior customer experience, it is essential that we have the right level of expertise and experienced leadership in this role."

About Encore Capital Group, Inc.

Encore Capital Group is a leader in consumer debt buying and recovery.  We purchase portfolios of defaulted consumer receivables from major banks, credit unions, and utility providers and partner with individuals as they repay their obligations and work toward financial recovery.  Our success and future growth are driven by our sophisticated and widespread use of analytics, our broad investments in data and behavioral science, the significant cost advantages provided by both our operations in India and our enterprise-wide, account-level cost database, and our demonstrated commitment to conduct business ethically and in ways that support our consumers' financial recovery.

Headquartered in San Diego, we are a publicly traded NASDAQ Global Select company (ticker: ECPG) and a component stock of both the Russell 2000 and Wilshire 4500.  More information about the Company can be found at www.encorecapital.com.

Forward Looking Statements

The statements in this press release that are not historical facts, including, most importantly, those statements preceded by, or that include, the words "may," "believe," "projects," "expects," "anticipates" or the negation thereof, or similar expressions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). These statements may include, but are not limited to, statements regarding our future operating results, performance, business plans or prospects. For all "forward-looking statements," the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. Such forward-looking statements involve risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are discussed in the reports filed by the Company with the Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K, each as it may be amended from time to time. The Company disclaims any intent or obligation to update these forward-looking statements.

For media inquiries, please contact:

Mike Huckman
MSLGROUP, for Encore Capital
[email protected]
(212) 468-3968

or

Mary McCeney
MSLGROUP, for Encore Capital
[email protected]
(212) 468-4053

SOURCE Encore Capital Group, Inc.