PRA Group, Inc. said Pete Graham, executive vice president and chief financial officer, has accepted a CFO role at a larger public company and is leaving the company on September 15, 2023, the group said. Rakesh Sehgal will succeed Graham as executive vice president and chief financial officer, in line with the company's succession planning. Sehgal joined PRA Group in 2022 as Head of Corporate Development and has over 25 years of experience in the financial services industry.

He previously served as managing director in the Mergers and acquisitions Group at General Electric and GE Capital, where he closed over USD 50 billion of transactions. Prior to spending nine years at GE, Sehgal was at Barclays Capital and Lehman Brothers in the Investment Banking Group, where he advised specialty finance and other companies on mergers and acquisitions and leveraged finance transactions.