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Former HSBC executive Walter Menezes joins NCB board of directors

insideARM.com January 22, 2013

NCB Management Services, Inc. is pleased to announce that Walter Menezes has joined the Board of Directors as an independent board member. Menezes has extensive experience in both consumer finance and risk management arenas. He has successfully grown and managed several profitable business units in the consumer debt space.

Walter Menezes Profile Most recently Menezes was Head of Global Cards at HSBC and President and CEO of the US Credit Card business that was sold to Capital One in 2012. Prior to joining HSBC Menezes spent 18 years with Wells Fargo Bank in various senior positions including consumer lending operations in Latin America and Asia Pacific.

“I am very pleased to add someone of Walter’s caliber and experience to our Board,” said Marcelo Aita, President and CEO of NCB, “Walter and I worked closely together several years ago and I look forward to leveraging his guidance once again. NCB is very well positioned for sustainable and profitable growth in a regulatory environment that Walter and I are intimately familiar with.”

Menezes is a strategic thinker that bases decisions around analytics and disciplined operational execution. He has significant experience with corporate governance and risk management roles. “I have spent most of my career in the consumer finance space that NCB operates in,” said Menezes, “They have done an outstanding job navigating the recent economic recession and positioning NCB for the way a collector needs to operate in today’s environment. The strategic vision Marcelo has laid out incorporates the ability to put significant capital to work, a robust compliance management system, and a diverse business model that lends itself to sustainable earnings quarter after quarter.”

NCB has been in business for nearly 20 years without ever having a money-losing year. While the company is privately owned and their financial statements are not publicly available, Aita acknowledges that, “2012 was the best year we’ve had on many fronts. We are actively purchasing portfolios from credit issuers and exploring business acquisition opportunities of both other debt buyers and collection agencies. There are several exciting developments underway at NCB and Walter’s addition to the team is very timely.”