PRA Group, Inc. announced the appointment of Dr. Marcel Köchling as European Investments Officer, effective immediately. Köchling, who holds a doctorate in business administration, is based in Germany and has been with PRA Group for over 12 years. He will continue as managing director of PRA Group Deutschland GmbH as he assumes leadership of the European acquisition team in the position formerly held by Owen James, who was promoted to Global Investments Officer in April of 2023.

Köchling previously served as regional acquisitions director for Central and Southern Europe and has a proven track record of success in the nonperforming loans industry. PRA Group's European business has become a significant driver of the company's overall performance, accounting for more than 50% of the company's estimated remaining collections (ERC). Over the past five years, PRA Group Europe has invested more than $2 billion in portfolios across nine European markets.

With his newly broadened role, Köchling will also join the European Leadership Team.