PRA Group's ¡Hola! Employee Resource Group Embraces Hispanic Culture Around the Globe

Rhea-AI Summary

This May, PRA Group (Nasdaq: PRAA), a leader in nonperforming loan acquisition and collection, launched the ¡Hola! Employee Resource Group (ERG) to support Hispanic and Latino employees. The ¡Hola! ERG is the fourth ERG in the U.S. and the second globally for PRA Group. The group is co-sponsored by Giovanna Genard, VP of Global Communications, and Victor Andrade, SVP and Chief Software Engineering Officer, with six additional leaders. The virtual launch celebrated Hispanic heritage and included 60 global employees. PRA Group's other ERGs focus on Women in Business, Well-Being, and Black Excellence. These initiatives aim to foster inclusivity, professional growth, and community engagement within the company.

Positive

• Launch of ¡Hola! ERG supports Hispanic and Latino employees, promoting inclusivity.
• ¡Hola! ERG is PRA Group's second global ERG, indicating expansion and global outreach.
• Virtual launch had significant participation with over 60 employees, showing strong internal support.
• ERG initiatives have previously led to successful mentorship networks and community engagement projects.

Negative

• No direct financial or business metrics were provided in the PR, making it hard to assess immediate financial impact.
• The impact of ERGs on overall company performance remains indirect and potentially non-quantifiable.
• The PR does not address how these initiatives affect PRA Group's core business of nonperforming loans.

NORFOLK, Va., May 22, 2024 /PRNewswire/ -- This month, PRA Group (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, celebrated the launch of its ¡Hola! Employee Resource Group (ERG). ¡Hola! is designed to serve Hispanic and Latino employees and advocates and will provide a space where PRA Group colleagues can engage in a community that celebrates and embraces Hispanic culture around the globe.

¡Hola! is the fourth ERG within the publicly traded company's U.S. business, and its second to launch on a global scale. Vice President of Global Communications and External Affairs Giovanna Genard and Senior Vice President and Chief Software Engineering Officer Victor Andrade will serve as the group's founding executive co-sponsors. Six additional colleagues will lead the ERG.

Genard eagerly anticipates the group's potential to promote understanding and belonging within the company. "It is an honor to serve as a founding executive sponsor for the ¡Hola! ERG. I see this as a way to advance PRA Group's commitment to fostering an inclusive and welcoming environment by supporting the networking, development and professional growth of our members through DEI programming and volunteerism," said Genard.

The virtual launch celebration included more than 60 PRA Group employees from across the company's global operation. The meeting commenced with a video featuring PRA Group colleagues defining what their heritage means to them. Leaders then engaged participants in thoughtful conversations and introspective activities infused with Hispanic history and culture so participants could foster a sense of community across the globe.

"Being an executive sponsor of the ¡Hola! ERG is a pivotal role for me. It gives us the opportunity to promote the values, advancement and achievements of our Hispanic and Latino employees," said Andrade. Both Andrade and Genard look forward to spending the rest of the year growing the ERG.

Additional PRA Group ERGs include Women in Business Advocates, Well-Being and Black Excellence, the last of which launched in December of last year. Each has seen great success developing mentorship networks, coordinating volunteer and philanthropic initiatives with PRA Group's nonprofit partners and creating opportunities for every employee to be themselves and be their best. Each has seen great success developing mentorship networks, coordinating volunteer and philanthropic initiatives with PRA Group's nonprofit partners and creating opportunities for every employee to be themselves and be their best.

About PRA Group  
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com. 

Media Contact:  
Elizabeth Kersey 
Senior Vice President, Communications and Public Policy 
757-641-0558
Elizabeth.Kersey@PRAGroup.com 

Investor Contact: 
Najim Mostamand, CFA 
Vice President, Investor Relations 
757-431-7913
IR@PRAGroup.com  

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SOURCE PRA Group, Inc.

FAQ

What is the ¡Hola! Employee Resource Group (ERG) at PRA Group?

The ¡Hola! ERG is a new initiative by PRA Group to support Hispanic and Latino employees, promoting inclusivity and cultural celebration globally.

When was the ¡Hola! ERG at PRA Group launched?

The ¡Hola! ERG was launched in May 2024.

Who are the executive sponsors for the ¡Hola! ERG at PRA Group?

Giovanna Genard, VP of Global Communications, and Victor Andrade, SVP and Chief Software Engineering Officer, are the executive sponsors.

How many employees participated in the ¡Hola! ERG launch event?

Over 60 employees from PRA Group's global operations participated in the virtual launch celebration.

What other Employee Resource Groups (ERGs) does PRA Group have?

PRA Group has ERGs for Women in Business Advocates, Well-Being, and Black Excellence.