Atlantic City's emergency manager is out the door.
Kevin Lavin, whose one year stint as Atlantic City emergency manager wrapped up on Jan. 21, has been hired for a new management role at a business advisory and expert services firm.
The corporate restructuring attorney was appointed by Ankura Consulting Group as co-president of the Dallas-based company. He will also serve on its board of directors.
Lavin was tapped as Atlantic City's emergency manager by New Jersey Gov. Chris Christie in January 2015 to help the distressed gambling hub address a $101 million budget gap. He released two reports that suggested cost-saving measures such as consolidating some government services and extending maturities for bondholders. His final report released Jan. 15 said Atlantic City will run out of cash by April 1 absent a rescue bill package from the state.
"His leadership skills in building and leading advisory businesses and his extensive experience assisting underperforming companies and their stakeholders will be invaluable to Ankura and its clients," said the firm's CEO Roger Carlile in a statement. "His most recent role as the emergency manager of Atlantic City, New Jersey demonstrates the broad range of his strategic, operational and restructuring capabilities."
Prior to Lavin's stint in Atlantic City he was the global co-leader of FTI Consulting's corporate finance/restructuring practice. Former Detroit emergency manager Kevyn Orr worked under Lavin in Atlantic City as a part-time consultant until his contract ran at the end of April.