GlobeNewswire Inc | Jul 19, 2021 12:00PM EDT

July 19, 2021

SAN DIEGO, July 19, 2021 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that Steve Carmichael has been appointed to the role of Senior Vice President, Chief Risk and Compliance Officer. He will report to Encores President and CEO, Ashish Masih, serve on the companys Executive Leadership Team, and be accountable to the Board of Directors Risk Committee.

Bringing on a person of Steves caliber is a continuation of our significant investment in the development of our risk management programs, said Masih. Hell add immediate value to our organizations already strong focus on compliance across all our businesses.

Im excited to join Encore because of the companysfocus onintegrity, compassion and respect,and because of the great leadership team and strategy in place, Carmichael said. The risk and compliance team has an important role to play in helping Encores values come alive, and Im looking forward to building on the strong foundation thats already in place.

Carmichael comes to Encore from Discover Financial Services, where he has served as Head of Enterprise and Financial Risk Management since 2019, having oversight of its enterprise, credit, liquidity, market and counterparty risk functions. Prior to that, Carmichael served as Discovers Chief Compliance Officer and Head of Corporate Risk Strategy.

Steve is a great addition to our leadership team not only because of his impressive expertise managing risk and compliance for large, diverse financial institutions, but also because he shares Encores highest values, Masih said. We put people first, deliver our best in everything we do, and embrace our differences and work together, which are all qualities embodied by Steve.

Earlier in Carmichaels career, he held senior strategic roles for financial institutions including Capital One, HSBC and Wells Fargo. He has a bachelors degree from Vanderbilt University, an MBA from the University of Michigan, and is a graduate from the Wharton Advanced Risk Management Program at the University of Pennsylvania.

AboutEncore 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.

ContactFaryar Borhani, Senior Director, Corporate Communicationspress@encorecapital.com