Joyce Frost is a Partner and Co-Founder of Riverside Risk Advisors and oversees all aspects of the business, including advising private equity and real estate sponsors, corporates, and specialty finance companies. With over 35 years of experience in derivatives markets—including interest rates, foreign exchange, credit, and equities—Joyce brings deep expertise in risk management, hedging strategies and policies, corporate finance, and capital markets.... ↓
Joyce was an active member of the Federal Reserve-appointed Alternative Reference Rate Committee (“ARRC”) Working Groups and was a recognized industry leader in the transition from LIBOR-based contracts to SOFR—one of the most significant changes and challenges in global financial markets in our lifetime. She is frequently quoted in the press, including in The Wall Street Journal.
Prior to founding Riverside, Joyce was a Senior Vice President of Cournot Capital Inc., a highly successful seller of credit protection wholly owned by Morgan Stanley. In that role, she helped build a portfolio exceeding $25 billion in swap notional, secured triple-A credit ratings from three agencies, issued $250 million of rated Senior Debt, managed the short-term investment portfolio, and facilitated Cournot’s successful sale to an affiliate of Magnetar Capital in 2008.
Before her time at Morgan Stanley, Joyce was Head of Marketing for Chase’s newly formed Credit Derivatives Group. During her five-year tenure, she contributed to the development and execution of the bank’s first credit derivatives transactions, including Chase’s first credit default swap, total return swaps on broadly syndicated loans, off-balance sheet financing vehicles, and the market’s first synthetic CLO. Under her leadership, Chase’s Credit Derivatives Group was named “Best in Credit Derivatives” by Global Finance Magazine and Derivatives Strategies Magazine, among other premier industry accolades.
Between 1985 and 1995, Joyce marketed fixed income derivatives to corporate, project finance, real estate, and other end-users. She successfully executed hundreds of transactions, ranging from plain vanilla swaps to the most complex cross-border project finance structures in Latin America. She began her fixed income career at The Northern Trust Company, continued at Chase Manhattan Bank, and spent five years at Sumitomo Bank Capital Markets.
Joyce is Co-Editor of The Handbook of Credit Derivatives (McGraw Hill, 1999) and the author of numerous published articles on the use of derivatives by corporations and other end-users. She has been a featured speaker at dozens of industry conferences throughout North and South America and Europe.
Joyce earned a B.S. in Finance from Indiana University’s Kelley School of Business, an MBA in Finance from the University of Chicago’s Booth School of Business, and completed MIT Sloan School of Management’s Executive Program: Artificial Intelligence: Implications for Business Strategy.
Joyce was honored to receive the Legacy Award at the 2019 Markets Choice Awards: Women in Finance.
She currently serves as Chair of the Board of Directors of Excellence Community Schools, a charter school management organization overseeing 20 schools in the Bronx and Stamford, CT, three of which have earned National Blue Ribbon School recognition. She is the Founding Chair and Vice President of the Board of Trustees of the Bronx Charter School for Excellence. Joyce is a long-standing member of the Board of Directors of New York Cares, New York City’s premier volunteer organization, where she has served on the Executive Committee as both Treasurer and Secretary. She is also Treasurer of the Board of Innisfree Garden in Millbrook, NY—a world-class landscape listed on the National Register of Historic Places.
Joyce is an active member of Tribeca Early Stage Partners, supporting early-stage ventures and entrepreneurs.
