Scott Lowery, Back to Square One on Capital Club Radio
Join Michael Flock of FLOCK Specialty Finance as he interviews Scott Lowery, a well-known leader and successful entrepreneur in the debt buying industry.
Scott, throughout his tenure, was the Founder, CEO, President and Chairman of SquareTwo Financial Corporation, originally known as Collect America, LTD, headquartered in Denver, CO which became one of the top debt buyers in the United States and Canada. Under Scott’s guidance as CEO, thecompany grew to over 25 franchised law firms across the US, over 100 local counsel legal firms in the network and revenue consistently exceeding $300M annually, with its top annual revenue number just under 600 million. Prior to the financial crisis, Collect America was in talks for an IPO with a valuation approaching $1.4B. After a new CEO took charge, the financial performance declined severely and SquareTwo filed bankruptcy in 2017 and was ultimately sold to Resurgent Capital Services, LP, a subsidiary of Sherman Financial Group.
In 2018, Scott and his team acquired Galaxy Capital Acquisition, LLC which is a debt buyer and master servicer located in Atlanta, GA. Additionally, Scott is an attorney at Rausch, Sturm, Israel, Enerson and Horniek, LLC, based in Wisconsin. Scott discusses how he goes back to “square one” with his new platform Galaxy.
Scott currently serves on the Board of Trustees for Valor Christian High School, the Daniels School of Business Executive Advisory Board, the Colorado UpLift Board of Directors and Executive Board and the ACE Scholarships Board of Trustees. He also served on the Denver Hospice Board of Directors and the Investment Committee.
Scott earned a BS degree in Business Administration and a JD degree from the University of Denver. In 2004, he was the recipient of the Ernst & Young Entrepreneur of the Year Award. Scott and his wife reside in Denver and are the proud parents of three daughters.
Here is a glimpse of what Scott shared in the interview:
“…. success is not linear, It’s not a direct trade-off. So, you can do 90% of the work and still have zero or five or 10% of the success. Then suddenly it trips.”
“… so this “square one”, a re-do or encore is just a way to gather again great people and work with some fun people. And I love the business … There are so many levers to pull.”
About building culture: “I think it’s simple and it’s hard. The things you learned in elementary school, how to play well with others in the sand box. You’ve got to genuinely like people. You’ve got to genuinely respect people. You’ve got to have people believe in your vision and believe in you, and then they’ll push you.”
Connect with SquareTwo Financial: https://www.linkedin.com/company/squaretwo-financial
Connect with Scott Lowery: https://www.linkedin.com/in/philip-scott-lowery-b0b754/
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