SALT LAKE CITY — Prestige Financial Services recently named an executive vice president of operations. Promoted to this position is Rich Hyde.

In this role, Hyde will oversee loan servicing, operations policy and client special situations for the Salt Lake City-based auto finance company.

"Rich has proven his merit for this position," said Bryant Henrie, chief operating officer, to whom Hyde will report.

"He knows this industry, he understands our customer and, most importantly, he's earned our employees' respect through his many years of successful service," he continued.

In his previous capacity as Prestige's senior vice president of portfolio management, Hyde led a staff of nearly 200 customer service representatives, collectors and recovery agents in servicing the company's portfolio of more than 40,000 auto loans.

His teams have continually delivered industry-leading performance, including during the recent economic downturn that has seen several of Prestige's competitors exit the market, officials highlighted.

Hyde joined Prestige in 2002, prior to which he was a division vice president of collections for a national bank's mortgage operation. His 16 years of experience have been devoted to collections and asset recovery in the subprime market.