SAN FRANCISCO, July 8 /PRNewswire-FirstCall/ -- Financial services
technology expert James E. Saber will join Providian Financial Corporation
(NYSE: PVN) as Chief Information Officer beginning July 15, 2002.
Saber comes to Providian from American Express Company in New York, where
he was most recently responsible for Consumer and Small Business Service
Technologies. Prior to that, Saber spent seven years at Bankers Trust Company
in a variety of technology roles, including overseeing the development of
several state-of-the-art software systems. Before that, he held several
managerial positions at American Express Bank, Ltd.
"I am excited about joining what is rapidly becoming one of the industry's
strongest management teams. I believe that I can make a significant
contribution to enhance our technical capabilities, and to deliver innovative
products and exceptional customer experiences that will become the benchmark
of the industry," said Saber.
About Providian
San Francisco-based Providian Financial is a leading provider of lending
and deposit products to customers throughout the United States. The Company
has $20 billion in managed receivables and more than 13 million customers.
Forward-Looking Statement
Certain statements contained in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
and are subject to the "safe harbor" created by those sections.
Forward-looking statements include expressions of "belief," "anticipation," or
"expectations" of management, statements as to industry trends or future
results of operations of the Company, and other statements that are not
historical fact. Forward-looking statements are based on certain assumptions
by management and are subject to risks and uncertainties that could cause
actual results to differ materially from those in the forward-looking
statements. These risks and uncertainties include, but are not limited to:
competitive pressures; factors that affect delinquency rates, credit loss
rates, liquidity and charge-off rates; general economic conditions; consumer
loan portfolio growth; changes in the cost and/or availability of funding due
to changes in the deposit, credit or securitization markets, changes in the
way in which the Company is perceived in such markets, and/or conditions
relating to existing or future financing commitments; the effects of
government policy and regulation, whether of general applicability or specific
to the Company, including restrictions and/or limitations on the Company's
minimum capital requirements, deposit taking abilities, reserve methodologies,
dividend policies and payments, growth, and/or underwriting criteria; year-end
audit adjustments; changes in accounting rules, policies, practices and/or
procedures; product development; legal and regulatory proceedings, including
the impact of ongoing litigation; interest rates; acquisitions; one-time
charges; extraordinary items; the ability to attract and retain key personnel;
the impact of existing, modified or new strategic initiatives; and
international factors. These and other risks and uncertainties are described
in detail in the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2001 under the heading "Cautionary Statements" and "Risk
Factors." Readers are cautioned not to place undue reliance on any
forward-looking statement, which speaks only as of the date thereof. The
Company undertakes no obligation to update any forward-looking statements.
SOURCE Providian Financial Corporation
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Related links:
http://www.providian.com
CONTACT:
media, Alan Elias, +1-415-278-4189, or Laurel
Munson, +1-415-278-4770, or investors, Jack Carsky,
+1-415-278-4977, or Bill Horning +1-415-278-4602, all of
Providian Financial Corporation
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