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Charles River Associates (CRA) Strengthens Its Financial Economics Practice

1. Viktor Tsyrennikov joins CRA as Vice President in Financial Economics Practice. 2. He brings extensive experience in risk management and regulatory challenges. 3. Tsyrennikov has a proven track record with advanced statistical and AI methods. 4. He previously advised large banks on Basel III reforms and model risk. 5. CRA emphasizes expertise in developing risk models for financial institutions.

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Why Bullish?

The hiring of an experienced leader like Tsyrennikov could enhance CRA's services, potentially driving revenue growth. Historical precedent shows how such strategic hires can positively influence a firm's market perception and performance.

How important is it?

The addition of Tsyrennikov strengthens CRA's consulting capabilities in the financial sector, likely appealing to clients and investors. His unique background in risk management and economics aligns with current market trends toward enhanced financial analytics.

Why Long Term?

The strategic contributions of new leadership typically manifest over a longer period as their impacts on business development take shape. Past cases show that new hires in senior positions often lead to sustained competitive advantages.

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BOSTON--(BUSINESS WIRE)--Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that Viktor Tsyrennikov has joined CRA’s Financial Economics Practice as a Vice President. “I am pleased to welcome Viktor to the CRA team,” said CRA President and Chief Executive Officer Paul Maleh. “He is an accomplished PhD economist and trusted advisor to financial institutions, with extensive experience in solving complex risk management and addressing regulatory challenges.” “Viktor has a proven track record in developing next-generation business-decision and risk-management systems, based on advanced statistics and AI, leveraging his deep expertise in financial markets, regulation, and analytics. With years of experience spanning industry, policy, and academia, he offers a unique perspective that combines high-level strategic thinking with hands-on management expertise,” said Marsha Courchane, CRA Vice President and leader of the Financial Economics Practice. Prior to joining CRA, Dr. Tsyrennikov was the head of quantitative services and analytics at a global consulting firm where he advised financial institutions with a focus on quantitative risk management and analytics. While there, he led a multidisciplinary team advising large banks regarding the Basel III reforms, stress testing, model risk, and the development of AI use cases in finance. Dr. Tsyrennikov was previously a resident scholar at the International Monetary Fund (IMF), where he advised the IMF’s chief economist on the regulation of international capital flows, international debt restructuring, and macroeconomic response to oil shocks. Prior to that, he was an assistant professor of economics at Cornell University. Dr. Tsyrennikov has a PhD in Economics from New York University, an MA in Economics from the Kyiv School of Economics, and an MA in Information Systems Management from the National University of Lviv. About CRA’s Financial Economics Practice With years of experience as academics, bankers and consultants, members of CRA’s Financial Economics Practice have been retained as consulting and testifying experts by financial institutions and law firms in a wide variety of regulatory and litigation matters related to consumer lending, including fair lending compliance, credit risk, credit scoring, mortgage and home equity lending, automobile lending, credit card lending, and unsecured personal lending, among others. In particular, members of our Financial Economics team have experience developing and validating risk models and testing them for potential fair lending disparate impact risk. CRA has advised and provided fair lending assessments of custom credit scoring and fintech lenders and has assisted lenders in responding to regulator concerns regarding the potential disparate impact risk of credit scoring systems. About Charles River Associates (CRA) Charles River Associates® is a leading global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Instagram, and Facebook. SAFE HARBOR STATEMENT Statements in this press release concerning the addition of Viktor Tsyrennikov and the strengthening of CRA’s Financial Economics Practice, and any future business Dr. Tsyrennikov may generate for CRA, are “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by CRA include, among others: the failure to generate engagements for us; the potential loss of clients; the demand environment; global economic conditions; foreign exchange rate fluctuations; and intense competition. Additional potential factors that could affect our financial results are included in our periodic filings with the Securities and Exchange Commission, including those under the heading “Risk Factors.” We cannot guarantee any future results, levels of activity, performance, or achievement. We undertake no obligation to update any forward-looking statements after the date of this press release, and we do not intend to do so.

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