Debt Purchasing Exec Opens his Own Shop

by Patrick Lunsford, CollectionIndustry.com

A debt purchasing veteran has decided to hang his own shingle.

Daniel Frank, former Vice President of Acquisitions at West Asset Management, today announced the launch of debt purchasing and recovery management company Leader Asset Management, LLC. The new firm will be headquartered in Atlanta, GA.

?The debt buying industry has become very transaction oriented which, unfortunately, is sometimes at the expense of an organization?s long-term goals,? Frank said. ?Leader Asset Management?s focus is to bring long-term value back into the equation by pursuing creative purchasing models that look to enhance long-term recovery efforts. In the end, we maximize recovery value for sellers and reduce risk for our investors.?

Frank has already put his model to the test with the recent acquisition of Leader?s first portfolio.

In addition to Frank?s experience in debt purchasing, he practiced with the Assurance and Advisory Business Services group of Ernst & Young. ?It helps to be able to speak the financial language of my investors and have them feel more confident with the knowledge that their capital is being expertly managed,? Frank said. ?The financial background also gives me the basis to evaluate alternative financing sources as Leader looks to expand its purchasing abilities.?