Encore CEO Ashish Masih Reappointed to U.S.-India CEO Forum

Rhea-AI Summary

Encore Capital Group (NASDAQ: ECPG) announced the reappointment of its President and CEO, Ashish Masih, to the U.S.-India CEO Forum by U.S. Commerce Secretary Gina M. Raimondo. This forum aims to strengthen economic ties between the U.S. and India. Masih, who has been part of the forum since 2019, emphasizes the importance of collaboration between the two nations. Encore has operated in India since 2005, focusing on debt recovery and consumer-centric solutions through its subsidiary, the Encore Asset Reconstruction Company. The company also promotes cultural diversity among its employees.

Positive

• Reappointment of CEO Ashish Masih to the U.S.-India CEO Forum signifies strong leadership and commitment to enhancing economic ties.
• Encore has maintained operations in India since 2005, indicating a long-term investment in the region.
• Recognition as one of the '100 Best Companies for Women in India' highlights the company's commitment to diversity and inclusion.

Negative

• None.

U.S. Commerce Secretary Co-Chairs Group Committed to Strengthening Economic Ties

SAN DIEGO, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that its President and CEO, Ashish Masih, has been reappointed by U.S. Secretary of Commerce Gina M. Raimondo to the U.S.-India CEO Forum.

The Forum brings together top-level business executives from both nations to discuss ways to strengthen economic and commercial ties. Masih was first named to the group in 2019, and his reappointment is effective through 2024. The U.S. section of the forum includes the CEOs of 19 companies representing a broad and diverse range of industries from across the United States. Secretary Raimondo serves as the forum’s public sector co-chair along with Piyush Goyal, Indian Minister of Commerce and Industry.

“I’m a native of India who has made the U.S. my home for more than 30 years, and I’m proud to lead a U.S.-based company with more than 2,000 of our colleagues working in India,” said Masih. “Participating in the Forum has given me a chance to share the many complementary strengths I see between our two countries and the opportunities I see for even greater partnership in the future. I’m honored to continue working with a group so committed to improving economic ties between two of the world’s most innovative and vibrant economies.”

San Diego-based Encore has had major operations in India through its subsidiaries since 2005. The team in India includes professionals working in operations, information technology, decision science, human resources, legal and other essential corporate functions. Additionally, Encore maintains an investment in the Indian market through the Encore Asset Reconstruction Company (EARC), which purchases and services business and consumer non-performing loans (NPLs) in India. Through the EARC, Encore is able to deliver its consumer-centric recovery approach to consumers within the country.

The U.S.-India relationship is important not only to Encore’s business but also to its culture. The company’s diversity, equity and inclusion (DE&I) and communications teams work to share American and Indian cultural and historic events that help employees who work together across the two countries to learn more about the traditions and life experiences of their colleagues. The organization has also received several awards that acknowledge its employee focus, including being recognized among the “100 Best Companies for Women in India (BCWI)” for the fourth straight year and certified as a “Great Place to Work.”

“Encore’s success in fostering collaboration, respect and appreciation between the U.S. and India is a microcosm of the type of work we’re doing through the Forum,” added Masih. “Our team is strengthened every day by the ideas and expertise shared across our borders, and what we’ve built can serve as a model for others seeking the mutual benefit of a true global partnership.”

Masih received an engineering degree from the Indian Institute of Technology in New Delhi, a master’s degree in manufacturing systems engineering from Lehigh University and an MBA from the Wharton School of Business at the University of Pennsylvania.

About Encore Capital Group, Inc.

Encore is an international specialty finance company that provides debt recovery solutions and other related services across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases or services portfolios of receivables from major banks, credit unions and utility providers.

Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500.

Contact

Faryar Borhani, Senior Director, Corporate Communications
Press@EncoreCapital.com

FAQ

What is the significance of Ashish Masih's reappointment to the U.S.-India CEO Forum for Encore Capital Group?

Ashish Masih's reappointment highlights Encore's commitment to strengthening economic ties between the U.S. and India, which is crucial for its operations and business growth.

When was Encore Capital Group established in India?

Encore Capital Group has been operating in India since 2005, focusing on debt recovery and non-performing loans.

How does Encore Capital Group promote diversity within its workforce?

Encore Capital Group promotes diversity through its DE&I initiatives and has been recognized as one of the '100 Best Companies for Women in India' for four consecutive years.

What are the main functions of the Encore Asset Reconstruction Company?

The Encore Asset Reconstruction Company primarily purchases and services non-performing loans, focusing on a consumer-centric recovery approach.

What is the stock symbol for Encore Capital Group?

Encore Capital Group is publicly traded under the stock symbol ECPG on NASDAQ.