The former chief risk officer of Bear Stearns Cos., Michael Alix, has joined the Federal Reserve Bank of New York to serve as a senior adviser to William Rutledge in the Bank Supervision Group.

Before the investment bank’s collapse in March, Alix served as chief risk officer at Bear Stearns from 2006 to 2008 and global head of credit risk management from 1996 to 2006. Prior to that, he spent eight years at Merrill Lynch & Company.