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Alan Silberstein joined Debt Resolve as its President, Chief Operating Officer and a member of its Board of Directors in June 2003. Debt Resolve offers banks and other lenders online collection services and recovery enhancement through a patented electronic bidding system. Mr. Silberstein brings to this young company his thirty years of business experience, during which he has held senior executive positions in the full range of financial services business.
Alan served as President and Chief Executive Officer of Western Union and Executive Vice President of First Data Corporation, its parent, in 2000-2001. Western Union provides financial services through 120,000 agent locations in 186 countries. During his stewardship, revenues grew at an annual rate of 18% to $2.7 billion, and profits by 19%. Prior to this position, he provided management advice to the parent company.
In 1996, he joined Travelers Property Casualty Insurance to serve as Chairman and CEO of Claim Services, responsible for restructuring this critical function (with 10,000 staff) through the merger of Travelers’ and Aetna’s PC businesses.
Prior to joining Travelers, Mr. Silberstein worked in the banking sector for twenty-two years, with executive positions in consumer banking. From 1992 to 1995, he was in charge of Midlantic Bank’s Retail Banking business, spearheading the turnaround of this troubled institution by introducing aggressive marketing programs, improving productivity and positioning the bank as a leader in service quality. PNC Financial acquired Midlantic in 1996.
Before Midlantic, Alan served as Executive Vice President, Director of Consumer Banking at Chemical Bank (now JPMorgan Chase). During his career there, he also was the senior manager in charge of nationwide consumer lending, the credit card business, retail operations and technology, and profit planning for the corporation.
Prior to becoming a banker, Mr. Silberstein worked for the New York City Bureau of the Budget under Mayor John Lindsay, and as a design engineer for the Ford Motor Company.
Mr. Silberstein is a member of the board of Capital Access Network, Inc., and of Innovest Strategic Value Advisors, Inc. He serves as treasurer of Yeshiva University’s business school and is a member of the Advisory Council of Columbia University’s engineering school. He is a member of the Council on Foreign Relations. He is also a member of Business Executives for National Security, where he heads their project to fight terrorism by following the money.
He has served in numerous banking industry groups including as chair of the American Bankers Association Retail Executive Committee, a three-year term on the Federal Reserve Board’s Consumer Advisory Council, and on the boards of both the New York Cash Exchange (NYCE) and CIRRUS ATM networks.
Mr. Silberstein received his Bachelor of Science degree in engineering from Columbia University and his MBA from Harvard. He lives in Tenafly, New Jersey with his wife Carol, an attorney in private practice. They have three children, ages 20 through 27. | 