Cavalry Portfolio Services Appoints Glenn Pagan Managing Director

HAWTHORNE, N.Y. — Glenn Pagan has joined debt- buying firm Cavalry Portfolio Services, LLC, which purchases and collects distressed consumer debt portfolios, as managing director in the firm’s acquisition group. Based in New York, he is responsible for securing portfolio acquisitions, targeting industries including utilities, healthcare and cable and telecom, as well as municipal governments.

Pagan brings to Cavalry a successful 24-year track record in sales and marketing. In the past several years, he has been involved in launching and building online startups. In 1997, Pagan founded NewsAlert, a proprietary news content search engine, and in 2000 sold the company to Hollinger Digital LLP.

“Glenn’s experience in founding and running businesses, and in sales and marketing, will be invaluable in assisting our acquisitions team to pinpoint and evaluate strategic purchases of debt portfolios,” said Andrew Zaro, Cavalry chief executive officer. “His mission will be to stimulate deal flow, particularly in sectors outside of financial services which are just beginning to build volume of consumer debt sales.”

Pagan joined Cavalry from Knovel Corporation, where he was vice president of sales and marketing. Previously, he served as director of business development for AOL Time Warner. Earlier in his career, he held executive positions in sales and marketing with Conde Nast publications.

Pagan earned BA and BBS degrees in political science and marketing/business administration from Iona College.

Cavalry has an $11 billion portfolio of receivables, up from $3 billion in 2001. The firm, one of the country’s largest debt buyers, acquires non- performing consumer loan portfolios from major banks, consumer finance, credit card and auto companies, and from other industries including utilities and telecom. Cavalry has more than 540 employees servicing 3.7 million accounts in four offices across the country.

About Cavalry Portfolio Services LLC

With an $11 billion portfolio of receivables, Cavalry Portfolio Services is one of the nation’s largest acquirers of non-performing consumer loans. The firm ranks in the top ten of the country’s largest debt buyers, according to Thomson Financial. Cavalry’s client roster includes some of the nation’s largest banks and consumer finance companies, as well as automotive companies, retailers, utilities, telecom and healthcare companies. The firm offers significant expertise, proven collection strategies and a proprietary credit scoring system that pinpoints “recoverable” loans, as well as a national legal network. Cavalry has offices in Hawthorne, New York, Phoenix, Arizona, Tulsa, Okla., and St. Paul, Minn.