Alvarez & Marsal expanded its Insurance and Risk Advisory Services practice with the addition of John Spencer, who joined as a managing director in New York.

Spencer brings more than 20 years of experience counseling businesses across industries including financial services, transportation, retail and manufacturing. He spent 15 years at the Pension Benefit Guaranty Corporation as the head of Corporate Finance and director of the Division of Insurance Supervision and Compliance. In these roles, he managed the financial analysts, actuaries and attorneys who were responsible for overseeing the nearly 26,000 private sector, single-employer U.S. defined benefit pension plans.

Spencer is an expert in the area of pension financial advisory. Additionally, he is a recognized subject matter expert in Title IV of the Employee Retirement Income Security Act of 1974 (ERISA), specifically as it pertains to assessment of risk in the context of corporate transactions and distressed situations.

Jim McDermott, managing director with Alvarez & Marsal Insurance and Risk Advisory Services, said, “John’s unique experience advising large corporations and private equity firms on pensions matters involving corporate transactions including mergers, acquisitions and dividend recapitalizations is unparalleled. His combined public and private sector expertise will provide clients with a 360-degree view for steering through a wide variety of situations where underfunded pensions are a challenge. This knowledge is especially timely given the forecasted uptick in M&A activity.”