Arrow Global, a debt buyer headquartered in Manchester, UK, is looking to grow its share of the international ARM market, according to an article in the Manchester Evening News.
The debt purchaser is looking to add some $1.5 billion in debt portfolios to its business this year, an increase of around 15 percent. The paper noted that around 85 percent of Arrow’s accounts were in the UK and 15 percent in Portugal.
At its current rate of expansion, the company’s CEO thinks the company will double in size over the next three years.
CEO Tom Drury joined Arrow about a year ago from a high-profile job at one of the UK’s larger public companies.
Arrow Global was formerly part of the Sallie Mae family of ARM businesses. It was divested into a standalone company in 2008, with a focus on non-U.S. debt buying. Arrow was originally brought into the Sallie Mae fold in 2004 when the student loan giant bought a majority stake in Arrow Financial Services.