MINNEAPOLIS, Jan. 25 /PRNewswire/ -- Arcadia Financial Ltd. (NYSE: AAC)
announced today that Robert A. Marshall is joining the company as president
and chief operating officer effective February 1, 1999. Marshall is currently
a member of the company's board of directors and will remain so. Richard A.
Greenawalt will continue in his role as chief executive officer; Warren Kantor
remains chairman of Arcadia's board of directors.
"Bob brings to Arcadia broad and deep experience in consumer financial
services," said Greenawalt. "His expertise in operations will provide
seasoned, senior leadership to our ongoing efforts to streamline our business
processes and standardize on industry best practices in our loan purchasing,
loan servicing and overall credit administration areas."
Warren Kantor, chairman, said that Marshall knows Arcadia well as a result
of his service on the company's board of directors. "He knows our business,
he sees where it is headed and he wants to participate more actively in
helping us achieve our performance objectives," said Kantor. "We're pleased
he accepted our offer to take a more active, hands-on role in setting and
implementing our business strategies."
Marshall, age 57, retired in 1997 from Advanta Corporation where he had
served as president of the Credit Card Division, president of Advanta National
Bank and an executive vice president of Advanta Corporation during an 11-year
career there. As head of Advanta's Credit Card Division, he oversaw growth in
division receivables from $470 million to $13 billion.
Before joining Advanta, Marshall served as chief operating officer of
Scudder Stevens & Clark, an investment banking firm based in New York. At
Scudder, he served as general manager for a project that created a Credit
Union for the American Association of Retired Persons in partnership with
BancOne.
Marshall also spent 14 years at Citicorp, where from 1981 to 1987 he
served as senior vice president of Citicorp Retail Services, Inc. Prior to
Citicorp, he was a vice president for Bankers Trust and also spent five years
with Avon Products. He served five years as an officer in the U.S. Navy where
he attained the rank of lieutenant commander. His military service included
two tours of duty in Vietnam.
"I'm pleased to be joining Arcadia," said Marshall. "The company has
retained its leadership position in the independent auto finance industry
through a difficult transition period. I'm convinced Arcadia is now ready to
evolve into a top-performing financial services enterprise."
A graduate of Temple University, Marshall is actively involved in the
community as chairman of Impact Services, a Philadelphia-based nonprofit
agency dedicated to training the disadvantaged for work in the private sector,
and as a member of the board of directors for the Greater Philadelphia
Scholastic Golf Association, an organization devoted to introducing the game
of golf to inner city youths and encouraging competitive junior golf. He
also is a board member at Outsourcing Solutions, Inc., a contingency
collection organization and provider of outsourced customer service phone
centers, and serves on the technical advisory board for Trajecta, Inc., a
privately held software company specializing in systems designed to assess
risks and rewards in complex scenarios.
Arcadia Financial Ltd. is a Minneapolis-based consumer financial services
company specializing in purchasing, selling and servicing retail installment
contracts for new and used automobiles originated in 45 states. The company,
founded in 1990, is the nation's largest independent provider of automobile
financing. Its 18 Regional Buying Centers are located in Arizona; northern
and southern California; Colorado; Florida; Georgia; Maryland; Massachusetts;
Minnesota; Missouri; New York; North Carolina; Ohio; Tennessee; north, south
and west Texas; and Washington.
SOURCE Arcadia Financial Ltd.
 back to top
Company News On-Call:
http://www.prnewswire.com/comp/652638.html or fax,
800-758-5804, ext. 652638
CONTACT:
Scott R. Fjellman, Investor Relations of
Arcadia Financial Ltd., 612-944-4582
|
