Executive Change: James J. Mastriani Promoted to President/COO of Velocity Legal Recoveries

New York — Velocity Legal Recoveries, a top performing legal collections network management company, has announced that James J. Mastriani is stepping up to become President and Chief Operating Officer. Mr. Mastriani was formerly the company’s Chief Financial Officer and Chief Legal Officer.

“Over the years we have developed a very effective legal strategy operation and Jim has been a key part of that accomplishment,” said Velocity Chairman and CEO Jack Kleinert. “His experience, skills and energy make him the right choice to lead the company as we expand.”

Mr. Mastriani earned a Bachelor of Arts degree in 1992 from Georgetown University and graduated from the Seton Hall University School of Law in 1997. Mr. Mastriani was in-house counsel for SBC Warburg Dillon Read Inc., providing legal advice and transaction support to the broker-dealer subsidiary of Swiss Bank Corporation. From 1998 until joining Velocity in 2004, Mr. Mastriani practiced at the New York office of international law firm Skadden, Arps, Slate, Meagher and Flom LLP, where he was responsible for providing legal and regulatory advice to clients in the financial services and consumer finance industries.

“We have a great team of highly experienced collections, legal and finance professionals who have been working together since 2003,” said Mastriani. “Now that we are offering our services to other debt buyers and creditors, we are finding a high level of interest in our capabilities. That interest, combined with the great collection results we are seeing from our network, points to a bright future for our company.”

“Jim’s new position as President and COO reflects Velocity’s commitment to scaling and growing the organization,” said Michael Flock, Managing Partner of Flock Advisors. “His financial and legal expertise in debt buying will be valuable in driving the expansion of the business.”

About Velocity Legal Recoveries
Founded in 2003, Velocity Recoveries has more than seven years experience using a “legal first” strategy to convert distressed receivables to cash. The combination of a proven legal network, sophisticated analytics, and a strong focus on individual client attention work together to generate incremental value from legal eligible receivables. Creditors and debt buyers who would like more information should contact James Mastriani at 732.556.9090.