Daily News: August 21, 2013

Wells Fargo Debt Sales Chief to Lead FLOCK Business Development

FLOCK Specialty Finance, a financing group to middle-market debt buyers and collection agencies, announced that Alex Dunlap, former director of debt sales for Wells Fargo, has joined FLOCK as senior vice president of business development. Dunlap will lead sales and relationship management functions, and will play a key role in market and product development. He will also focus on sourcing new portfolio purchasing opportunities for clients.

“FLOCK has become a specialty finance company dedicated to helping debt buyers compete and grow, and Alex shares our vision on how the industry will need to change,” said Michael Flock, chairman and CEO. “His past experiences and insights will help our company create financial solutions that will help middle market debt buyers succeed. He also has the knowledge base and experience to help banks comply with the CFPB and other regulators’ expectations.”

Dunlap has built a distinguished career in funding and financial operations. For the past 20 years, he held key executive positions with Wells Fargo, managing debt sales, client relationships and mergers and acquisitions. In his role, Dunlap developed procedures and automated systems that streamlined Wells Fargo’s debt sales process. Dunlap plans to utilize his expertise in the debt sales arena to help small and mid-sized creditors navigate through regulation and develop effective debt sales programs.

“I am excited about this opportunity to work with Michael and the FLOCK team,” Dunlap said. “While many large banks have consolidated their debt buyer channels, there is still a critical need for middle market debt buyers to access capital, improve their creditor relationships and seek out new markets like regional banks.”

Dunlap is moving to Atlanta with his family. While living in Des Moines the past 20 years, he was actively involved in mentoring young adults, served on the board of Greater Des Moines Habitat for Humanity and was the Treasurer for Elim Christian Fellowship.

Previously on abfjournal:
FLOCK Launches Specialty Finance Company for Debt Buyers, August 1, 2013