Executive Change: Peter D. Waldstein to TRAKAmerica as CFO

Syosset, NY — TRAKAmerica, the leading independent provider of legal network management, announced today that Peter D. Waldstein has joined the company as Chief Financial Officer. Mr. Waldstein, a widely recognized senior executive in the ARM industry, joins TRAKAmerica after serving as a Managing Director for Garnet Capital Advisors, where he advised debt buyers, collection agencies, service providers and other industry participants on mergers, acquisitions and private placements of debt and equity.

“TRAKAmerica is excited to have someone with Peter’s industry experience join our team,” said President Vincent Iacono. “Peter is a proven leader in our industry who will have an immediate impact on our business. His knowledge of the credit markets, along with his previous experiences at Garnet, fit nicely with our growth plans.”

Prior to joining Garnet, Mr. Waldstein served for five years as Chief Operating Officer of Hilco Receivables, LLC, where he managed Hilco’s multi-billion dollar portfolio of consumer and commercial receivables. As COO, Waldstein helped drive a tenfold increase in revenue, leading to two rounds of private equity investment in Hilco by prominent Wall Street firms. Before joining Hilco, Waldstein was active in engineering the consolidation of the ARM industry. At Argent Healthcare Financial Services, at the time a portfolio company of GTCR Golder Rauner, LLC, Waldstein led the acquisition campaign that helped create one of the largest collection agency companies in the healthcare industry, which later was acquired by MedAssist, Inc.

Waldstein began his career as a financial journalist, including five years at Crain’s Chicago Business. He earned his MBA from the University of Chicago and BA from the University of Michigan.

“I am pleased to be a part of TRAKAmerica,” said Mr. Waldstein. “TRAK has done a terrific job of creating a highly competitive, differentiated offering that brings real value to its customers. It’s great to be part of a winning team.”

About TRAKAmerica
TRAKAmerica, the leading independent provider of legal network management services, has been able to recover millions of dollars, previously believed to be unrecoverable, for some of the most astute lenders in the world. The company’s recovery success is built on a nationwide network of local attorneys, combined with a rigorous analytic approach to managing thousands of accounts. TRAKAmerica’s FASTRAK model permits its attorneys to concentrate on the most suit-worthy accounts while its asset location skills and rigorous attorney management procedures ensure that each attorney follows the most statistically likely, cost effective path to recovery on every account. Since 2000, TRAKAmerica has won ongoing assignments from debt buyers, banks, finance companies, credit unions, auto lenders and others by delivering higher netbacks in a secure, compliant environment. Creditors or debt buyers who would like more information about FASTRAK or who would like to run a test file should contact Wade Ferguson at 239.249.6573.