– USA, SC – Regional Management Corp. (NYSE: RM), a diversified consumer finance company, today announced the appointment of Phil Bancroft to its Board of Directors, effective immediately, increasing the Board from eight to nine directors.
Mr. Bancroft is the former CFO and EVP of Chubb (NYSE: CB), the largest publicly traded property and casualty insurance company in the world.
“We are delighted to welcome Phil to our Board. Phil’s wealth of financial knowledge and his experience working with growth companies will serve to enhance the quality of our Board. We expect that Phil will add immediate and considerable value to Regional’s ongoing omni-channel and digital growth initiatives, while additionally bolstering our robust financial capabilities,” said Maria Contreras-Sweet, Chair of the Corporate Governance and Nominating Committee.
About Philip Bancroft
Phil Bancroft brings to the Board unparalleled financial, risk, and executive management expertise. He was the CFO of ACE Limited from 2001 before ACE acquired Chubb in 2016, at which time he became the CFO of Chubb. Before ACE, Mr. Bancroft served as Partner-in-Charge for the New York Regional Insurance Group of PricewaterhouseCoopers from 1996 to 2001, and spent nearly 20 years at PWC, ten years as a partner. He has served on the boards of various organizations, currently serving on Saint Joseph’s University Haub School of Business/Advisory Board for Insurance Risk Management.
“Regional has the first-class Board of Directors, and I’m excited to join the team as the company continues to expand its market share and broaden its reach across the country,” said Phil Bancroft. “I look forward to working closely with the Board and management to help direct Regional’s overall long-term growth strategy and deliver additional value for our shareholders.”
He was certified as a public accountant and earned his Bachelor of Business Administration in Accounting from Temple University.
About Regional Management Corp.
Regional Management Corp. is a diversified consumer finance company that provides attractive, easy-to-understand installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. Regional Management operates under the name “Regional Finance” in approximately 350 branch locations in 13 states across the United States. Most of its loan products are secured, and each is structured on a fixed-rate, fixed-term basis with fully amortizing equal monthly installment payments, repayable at any time without penalty. Regional Management sources loans through its multiple channel platform, which includes branches, centrally managed direct mail campaigns, digital partners, retailers, and its consumer website.
For more information: https://www.regionalmanagement.com/
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