A&M Expands Financial Industry Advisory Services Practice
Alvarez & Marsal has expanded its Financial Industry Advisory Services group with the addition of Bruce Stevenson, a managing director based in New York. Stevenson will focus on building the firm’s Quantitative Advisory Services practice, which is dedicated to employing advanced mathematics and analytics to help clients solve business issues and minimize risk against the backdrop of evolving industry regulations.
With more than 27 years of experience in applying quantitative technology to challenges within the financial services industry, Stevenson has a unique blend of experience developing analytical solutions within banks and as a financial services consultant. He has particular expertise in building entities within financial services institutions, applying mathematics to solve core business problems in the areas of risk management, economic capital and stress testing.
“With regulatory requirements surrounding financial institution analytics becoming increasingly complex, the need for specialized expertise in this area has grown significantly,” said Samuel Golden, co-CEO of Alvarez & Marsal’s Financial Industry Advisory Services group. “Bruce brings a wealth of industry and operational experience and makes an outstanding addition to our team of world class professionals.”
Prior to A&M, Stevenson was senior vice president of HSBC North America Holdings, where he developed their Internal Capital Adequacy Assessment Program, designed and led economic capital and stress testing programs for the bank’s U.S. operations and built their operational risk Loss Distribution Approach model. He also designed and implemented HSBC’s Enterprise-wide Stress Testing program, including stress testing for the firm’s capital plan, idiosyncratic and firm-specific stress tests, and reverse stress testing.
Previously, Stevenson was a former managing director and department head of portfolio management at BNP Paribas, responsible for developing, selling and managing four collateralized loan obligations ($14 billion in assets), including the first securitization of non-investment grade commercial loans. He also served in quantitative risk and credit portfolio management positions at Fleet Financial Group and Citibank, developing quantitative models for estimating probability of default and loss given default, as well as portfolio optimization, stress-testing and economic capital models.
Earlier on, he was the principal and managing director at Stevenson Associates LLC, a risk and investment management consulting company that he founded, and has provided management advisory services to banks as an executive of Loan Pricing Corp.