Market Leader in Bankruptcy Administration Unveils New Name
IRVINE, Calif., Jan. 22, 2019 – Bankruptcy Management Solutions (BMS) unveiled a new name and brand, Stretto, to reflect the company’s growth and evolution into a full-service bankruptcy-administration technology and services provider.
“We’re excited to announce the launch of our new brand and, in essence, a new company direction,” comments Eric Kurtzman, co-CEO at Stretto. “We have not only changed the look, touch and feel of BMS, but also have grown the company from its roots as the market leader in consumer-bankruptcy services to now provide a wider array of administrative solutions to the broader fiduciary industry.”
Under the executive leadership of bankruptcy-industry veterans, Kurtzman and co-CEO Jonathan Carson, who partnered with Stone Point Capital in acquiring the business in 2017, the company now offers a more comprehensive range of fiduciary services for professionals, including an expanded suite of corporate restructuring solutions, a receivership-focused practice and specialty deposits business line.
Stretto remains the market leader in the consumer-bankruptcy administration space, with more than 50 percent of United States Chapter 7 panel trustees as clients. The company’s management team will maintain the legacy of its industry leadership in consumer bankruptcy by providing its proprietary combination of professional-level client service, tailored processes and best-in-class technology to a growing share of American bankruptcy trustees.
“With our expanded focus and new brand, Stretto provides the foundation to manage the complex administrative and fiduciary needs of the corporate and consumer bankruptcy industries,” Carson comments. “While we have a new name and new look, our commitment to clients remains stronger than ever, and we are well-positioned for continued expansion and success.”
In recent months, several new team members and bankruptcy industry veterans have joined the company as it executes its growth strategy, including James Le as chief operating officer, Scott Barna as chief integration officer and Chris Updike as general counsel.
For more than 30 years, Stretto (formerly Bankruptcy Management Solutions/BMS) has served as a trusted administrative partner, providing consumer-bankruptcy and corporate-restructuring solutions to fiduciaries. We leverage deep-industry expertise to manage case administration and ensure fiduciaries are prepared for anything that comes their way. As our name implies, a musical term indicating when one voice picks up where another leaves off, Stretto seamlessly integrates streamlined workflows and best-in-class technology to orchestrate the administrative process and create harmony for professionals and their teams. For more information about Stretto, visit www.stretto.com.
About Stone Point Capital LLC
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. Stone Point Capital targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. For more information about Stone Point Capital, visit www.stonepoint.com.
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