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San Francisco-based Providian Financial Corp. (PVN) has restructured some of its businesses; the initiative drew to a close late in October. The issuer is creating a new division for its diversified growth businesses, integrating its credit card businesses and promoting four executives. The restructuring is to help the company take advantage of opportunities down the road, company officials say. Since becoming a public company two years ago, Providian has grown to more than $20 billion in assets under management, up from $11 billion. The company has more than 11 million customers nationwide, a 175-percent increase from 4 million two years ago. Under the new structure, Providian will be organized around four businesses: credit cards, emerging businesses, e- commerce and the U.K. business. The company made Seth Barad, who had overseen the unbanked and unsecured credit card businesses, president, emerging businesses. David Alvarez, who had been in charge of the unsecured credit card business since 1997 will head the company's integrated unbanked and unsecured credit card business in the position of president, credit cards. James Rowe was named executive vice president, e-commerce. Ellen Richey was named to the newly-created position of vice chairman. She will continue in her position as general counsel, which she has held since 1995. (Laurie Cole, Providian, 415/278-4844.)