GREENVILLE, S.C.--(BUSINESS WIRE)--Jan. 5, 2015--
Regional Management Corp. (NYSE:RM), a diversified specialty consumer
finance company, today announced that Daniel Taggart has been appointed
to the newly-created position of Chief Risk Officer, effective
immediately.
Mr. Taggart brings to Regional Management nearly 20 years of financial
and consumer lending experience, including significant expertise in
credit risk management and a previous stint as Chief Credit Officer at
CitiFinancial (now known as OneMain Financial).
“Dan brings to Regional Management a deep understanding of credit risk
management and loan servicing, and his overall knowledge and experience
makes him the ideal fit for this vital new position,” said Michael R.
Dunn, Chief Executive Officer of Regional Management. “As we continue to
reduce our credit volatility and prepare for the implementation of our
new loan management system platform, we expect Dan will have an
immediate impact on our operations to ensure that our delinquency issues
are fully resolved. With Dan’s addition, along with the previous
addition of Jody Anderson as our President and Chief Operating Officer,
we feel we have significantly strengthened our management depth and are
well positioned for long-term expansion and the creation of shareholder
value.”
Mr. Taggart served most recently as Executive Vice President of Agility
360, a financial services consultancy. Prior to that, he was Senior Vice
President at Wingspan Portfolio Advisors, a specialty mortgage service
provider and has also served as EVP of REDC Default Solutions LLC, a
startup division of Auction.com, LLC, a mortgage loss mitigation
subservicing company. Before joining REDC Default Solutions LLC, Mr.
Taggart spent 11 years at Citigroup, where he held a variety of
positions, including SVP and Senior Credit Officer of CitiMortgage
Default Risk Management, SVP and Senior Credit Officer of Retail
Distribution Risk Management and SVP and Chief Credit Officer of
CitiFinancial (now known as OneMain Financial). Mr. Taggart has also
worked for The Associates (prior to its acquisition by Citigroup),
FirstPlus Financial and Fleet Bank in risk management and loan servicing
functions. Mr. Taggart received his Bachelor of Science in Finance from
Canisius College.
Forward-Looking Statements
This press release may contain various “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995, which represent Regional Management Corp.’s expectations or
beliefs concerning future events. Words such as “may,” “will,” “should,”
“likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,”
“believes,” “estimates,” “outlook” and similar expressions may be used
to identify these forward-looking statements. Such forward-looking
statements are about matters that are inherently subject to risks and
uncertainties, many of which are outside of the control of Regional
Management. Factors that could cause actual results or performance to
differ from the expectations expressed or implied in such
forward-looking statements include, but are not limited to, the
following: the continuation or worsening of adverse conditions in the
global and domestic credit markets and uncertainties regarding, or the
impact of, governmental responses to those conditions; changes in
interest rates; risks related to acquisitions and new branches; risks
inherent in making loans, including repayment risks and value of
collateral, which risks may increase in light of adverse or recessionary
economic conditions; recently-enacted or proposed legislation; the
timing and amount of revenues that may be recognized by Regional
Management; changes in current revenue and expense trends (including
trends affecting delinquencies and charge-offs); changes in Regional
Management’s markets and general changes in the economy (particularly in
the markets served by Regional Management); and the departure,
transition or replacement of key personnel. Such factors and others are
discussed in greater detail in Regional Management’s filings with the
Securities and Exchange Commission. Regional Management will not and is
not responsible for updating the information contained in this press
release beyond the publication date, or for changes made to this
document by wire services or Internet services.
About Regional Management Corp.
Regional Management Corp. (NYSE: RM) is a diversified specialty consumer
finance company providing a broad array of loan products primarily to
customers with limited access to consumer credit from banks, thrifts,
credit card companies and other traditional lenders. Regional Management
began operations in 1987 with four branches in South Carolina and has
since expanded its branch network across South Carolina, Texas, North
Carolina, Tennessee, Alabama, Oklahoma, New Mexico and Georgia. Each of
its loan products is structured on a fixed rate, fixed term basis with
fully amortizing equal monthly installment payments and is repayable at
any time without penalty. Regional Management’s loans are sourced
through its multiple channel platform, including in its branches,
through direct mail campaigns, independent and franchise automobile
dealerships, online credit application networks, retailers and its
consumer website. For more information, please visit http://www.RegionalManagement.com.
Source: Regional Management Corp.
Investor Relations
Garrett Edson, 203-682-8331