The founder of Account Solutions Group (ASG), an Amherst collections business which has grown to employ about 600 people, is leaving as president at the end of the month.
Anthony J. Frisicaro will remain an adviser and consultant to ICICI OneSource, the India-based company that bought ASG in 2004. Rahul Basu, previously ICICI OneSource's chief financial officer, will oversee ASG.
Frisicaro had spent 24 years in banking when he decided to launch ASG in 1995. He started out with only five employees, but by the time of the ownership change, ASG employed about 500. Frisicaro remained president after the sale, and the company has since grown to about 600 people, he said.
As the company grew under Frisicaro's direction, ASG's customers told the company it needed to have more than one location. Selling the company to ICICI OneSource gave ASG an opportunity to expand and remain competitive, he said.
ASG operates two side-by-side call centers in Amherst, and is making plans to hire an additional 100 people locally, he said. It has also added a call center in Reno, Nev.
ASG serves credit card companies and is expanding its customer base to include telecommunications companies and utilities.
Frisicaro, 58, said he feels he has accomplished what he set out to do at ASG, and has the entrepreneurial itch to try something else. "I thrive on change, and I'm ready for another opportunity," he said.
Frisicaro said he doesn't yet know what he will do, but he plans to stay in Western New York. He said he feels good about the management team at ASG as he prepares to leave the company.
"They're more than capable of leading it into the future," he said.
Ananda Mukerji, managing director and CEO of ICICI OneSource, said the company will look to Basu to "continue the high standards that Tony has set."
"We see our facility in Amherst as a 'best practices center' for our collections capability," Mukerji said in a statement.