Lehmans administrators: Mike Jervis, PwC
Enron veteran Mike Jervis has some prior experience of financial services administrations
Michael John Andrew Jervis qualified as a chartered accountant in 1987 and is
now a firm fixture at PwC’s business recovery division.
One of his high profile appointments before the Lehman Brothers job was
sorting out the affairs of Enron in the UK.
He was also the joint administrator for the Greeting Card Group in 2007,
formerly the UK’s second largest card retailer. Jervis helped sell off a part of
the ailing business, securing the jobs of 1,500 staff.
He also has previous experience of financial services companies. Together
with Dan Schwarzmann, he handled the administration of the Millfield Group in
2006, which provided support services including training and regulatory
supervision for more than 1,250 independent financial advisers.
Earlier this year Jervis made an ominous prediction that economic conditions
would only get worse and urged companies to plan ahead. ‘[PwC recommends] that
they re-think their scenario planning, if necessary on a worst case basis, to
manage through the downturn,’ he said.
He has always been fairly vocal and is often quoted in the press on the back
of PwC insolvency reports, but alongside his fellow administrators, he will now
find himself under the most intense media scrutiny as he seeks to wind down
Lehmans.
Read more about the Lehman administrators:
Lehman Administrators: Tony Lomas, PwC
Lehman
Administrators: Dan Schwarzmann, PwC
Lehman Administrators: Steven Pearson, PwC
