LAS VEGAS -

Continuing the series of honors that will be handed out during Used Car Week, Auto Remarketing announced the winner of the Re3 Executive of the Year Award.

The honor is going to Karen Nelson, who is senior vice president and call center director for Crescent Bank, a Louisiana-based subprime auto finance company. As a result of her performance dating back to 2003, Nelson was named the Re3 Executive of the Year, an honor sponsored by Consolidated Asset Recovery Systems.

“Leaders from throughout the industry told us how Karen Nelson epitomizes what it means to be a top professional in the repossession, recovery and remarketing industries,” said Bill Zadeits, publisher of Auto Remarketing and chairman of Used Car Week. “Karen’s leadership has helped Crescent Bank navigate a challenging collections landscape as competitive and regulatory pressures increased.

“It’s an honor to welcome Karen to the Re3 Conference at Used Car Week and have her join Jeff Haynes of BBVA Compass as a winner of the Re3 Executive of the Year Award recipient,” Zadeits continued. “Congratulations go out to Karen and the rest of Crescent Bank team for this accolade.”

Leveraging the tools and personnel Nelson has available certainly caught the attention of Steve Norwood, who is the co-founder, president and chief executive officer of Consolidated Asset Recovery Systems. Norwood will be presenting the Re3 Executive of the Year award to Nelson during the Re3 Conference at Used Car Week.

“Karen Nelson represents the best of what we look for in an executive of the year,” Norwood said. “As senior vice president at Crescent Bank, Karen is responsible for several aspects of Crescent’s call center and recovery operations.

“Managing a national portfolio of loans for both prime and subprime markets can be challenging,” he continued. “Karen juggles being a senior executive, team leader and mother to her children with the enormous task of managing a large collection team, numerous contractors and the various regulatory aspects related to collections and the servicing for a large automotive portfolio.

“Her leadership, innovation and out-of-the-box thinking have enabled Crescent Bank to become a major servicer and originator of loans,” Norwood went on to say. “We could not be prouder of her achievements and wish her continued success along with our congratulations in being recognized as this year’s Re3 Executive of the Year.”

Nelson will be honored during the Re3 Conference, which is scheduled for Nov. 12 at the Red Rock Casino, Resort and Spa in Las Vegas. The Re3 Conference — presented by Digital Recognition Network and Primeritus Financial Services — is the Used Car Week event that focuses on repossessions, recoveries and remarketing.

The Re3 Conference takes place halfway through Used Car Week, which also includes the CPO Forum, the SubPrime Forum and the National Remarketing Conference.

It’s not too late to register for the Re3 Conference or any of the other Used Car Week events. Registration details and conference agendas can be found at www.usedcarweek.biz.