StreetWide is a collection agency that works solely in the financial services sector.We specialize in the recovery of securities and securities-fraud related debt from a wide array of sources. We handle collection of funds, we manage arbitration matters, collection of unpaid judgments/post-arbitration settlements and payment plans. We also enforce all post-arbitration awards, all with detailed monthly status reports.

 







 

 

  • Michael Colombo, the President of StreetWide Asset Recovery Group, Inc., has 23 years of experience in debt collections for Wall Street brokerage firms. Throughout his career, the collection departments he has built and managed have generated high revenues, achieved significant recovery rates on both retail client and ex-employee debt, and rationalized expenditures for legal services. During periods of extreme market volatility and rapid employee turnover at brokerage firms, these services quickly have become profit centers for their firms.

Mr. Colombo, who joined Firebrand Financial Group, Inc. in 1998, built and managed the firm’s first National Collections Department focusing on debt incurred by retail clients, ex-employees and outside vendors of there broker dealer. At Firebrand, Michael increased collection revenues to $ 6 million from $12,000.00, and reduced outside legal fees by 70%. He achieved this level of success in only 18 months.

  • Michael also managed the arbitration process for the firm, filing claims and enforcing and collecting post arbitration awards and judgments. In addition to arbitration, he was responsible for negotiating all settlements on ex-employee and client debt, averaging 90% of outstanding balances. He has served on Firebrand’s Operating Committee since 1999 and was a Vice President of the firm.

  • Through most of his career, Mr. Colombo has also worked directly with the National Association of Securities Dealers, Inc.’s Office of Dispute Resolution, the New York Stock Exchange enforcement and arbitration divisions and the American Arbitration Association. Before joining Firebrand, he created the National Collections Department at Gruntal & Co., where collections increased 300% to $2 million annually from the firm’s earlier effort. At Gruntal, he managed all in-house collection efforts, and created monthly, quarterly and annual reports for senior management. He was employed by Gruntal & Co. from June 1996 to June 1998.

  • Michael began his debt collection career in 1983 at PaineWebber, Inc., where he was in charge of all in-house collections for the firm’s 270 retail branches and managed a staff of eight. Also, he supervised firm investigations and post-judgment/ arbitration award collection efforts. He left that firm having been one of the youngest ever to have been appointed with the title of Assistant Vice President.

 

Copyright © 2005 StreetWide Asset Recovery Group, Inc.