NY Fed hires Bear Stearns' risk-management head

The chief risk officer at Bear Stearns, the now-defunct investment bank, has joined the New York Federal Reserve to advise on bank supervision.

Michael Alix, the chief risk officer at Bear Stearns from 2006 until 2008, will act as a senior adviser to William Rutledge, the executive vice president of the bank supervision group.

Before becoming chief risk officer, Alix was head of credit risk management from 2006 to 1996. Before joining Bear, he worked at Merrill Lynch, which was recently purch