Executive Change: Robert DiGennaro to Collins Financial as CEO

Robert L. DiGennaro, a seasoned operating executive with twenty-five years of senior-level experience in the consumer debt and collections industry, has joined Collins Financial Services, Inc., as Chief Executive Officer, the company announced today. As CEO, Mr. DiGennaro succeeds founder Walt Collins, who has been named the company’s Chairman and will remain actively involved with the company. Collins Financial, of Austin, Tex., is a leading purchaser, collector and reseller of charged-off consumer debt.

From 2003 to 2006, Mr. DiGennaro, 48, was Senior Vice President of General Electric’s GE Money–Americas unit and had direct responsibility for overall management of collections and recovery for GE Money–Americas with gross charge-offs of $1.8 billion and 6,000 associates at twelve sites worldwide. During this tenure, Mr. DiGennaro increased collection dollars and profitability by $1 billion and $400 million, respectively, through risk-based strategies that drove major process improvements in expense, delinquency and loss performance. From 1998 to 2003, he was associated with GE Card Services, a unit of GE Capital’s Consumer Finance business.

Mr. DiGennaro’s previous positions included Vice President, Collections & Portfolio Sales, at HSBC/Household International; Vice President, Recovery at First Card Services, Inc.; Assistant Vice President, Collection & Risk Administration, at First Interstate Bankcard, N.A.; and Operations, Credit and Fraud Manager at Citibank, N.A.’s Retail and Bankcard divisions.

Jeff S. Fronterhouse, a Partner of Brazos Private Equity Partners, LLC, which acquired Collins Financial Services in February 2006, said: “We are delighted to welcome Bob DiGennaro to the Collins senior management team, and delighted that Walt Collins will continue to serve Collins as Chairman. Bob’s quarter-century of industry experience will be enormously valuable as Collins continues to grow its business, and Walt’s role as Chairman will ensure that Collins will continue to benefit from his visionary leadership. Together, they and the other members of the Collins management team will drive the Company’s continued growth and success in the years ahead.”