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Tsvetan N. Beloreshki

Managing Director


Tsvetan Beloreshki is a member of BRG’s Finance and Securities Litigation group and is based in New York. His practice is driven by his unique combination of economics expertise, strong quantitative skills, and vast marketplace experience as a trader in fixed-income/derivative instruments and an active participant in the securities industry. He specializes in securities and financial economics, focusing on credit products, foreign exchange, futures and commodities, derivative instruments, and structured finance. He has been qualified at trial and arbitration hearings as an expert in financial economics, securities markets, structured finance, financial engineering, securities valuation, damages, market microstructure, suitability, due diligence, document discovery/spoliation, commercial reasonableness, and industry customs and practices.

Mr. Beloreshki has provided economic consulting and dispute resolution/litigation services in cases involving the valuation of fixed-income securities, mortgage-backed securities, collateralized mortgage obligations, collateralized debt obligations, and other structured finance products. He has worked on analyses of liability and damages in commercial and broker/dealer disputes, claims of market manipulation, and lawsuits relating to hedge funds, banking, and real estate investment, as well as litigation cases involving, among others, complex financial and tax structures and derivative securities, equity, hybrid and credit derivatives, convertible securities, foreign exchange, fixed-income instruments, hedge fund performance, and the effects of financial crises on market performance and liquidity.

Before his consulting career, Mr. Beloreshki was a member of Banque Paribas’ Structured Products and Credit Derivatives team in London and New York. In his role as a trader, he analyzed credits and made markets in sovereign and corporate bonds, as well as in an array of credit derivative instruments. In addition to his responsibilities related to the active trading and risk management of a book of complex debt instruments, he was responsible for developing methodologies used in the identification of credit and cross-currency arbitrage opportunities, as well as in relative value trading across the spectrum of fixed-income instruments, asset swaps, and credit derivatives markets. He held a National Association of Securities Dealers General Securities Representative license (Series 7) with Banque Paribas and William M. Mercer Securities Corporation between 1997 and 2002.

Mr. Beloreshki has also worked with a diverse base of banking institutions in the United States, Canada, and Great Britain in establishing and maintaining a proprietary software system dealing with asset-liability management in the context of portfolios of mortgage-backed securities and collateralized mortgage obligations. He has published articles and working papers in the areas of fixed-income securities valuation, comparative analyses of the major rating agencies’ methodologies with respect to modeling credit in the context of structured finance products, and on liabilities and damages issues related to the litigation of fixed-income instruments, hybrid derivatives, and structured finance products. He has presented at seminars and conferences on topics ranging from the economics and valuation of derivative securities and structured finance products to financial economic issues as these relate to various aspects of securities litigation.


University of Chicago
MBA, Econometrics, 1996

University of Chicago
B.A., Economics, 1993

Employment History

FTI Consulting, Inc.
Senior managing director
2010 - 2016
Managing director
2008 - 2009
2006 - 2007

Deloitte & Touche LLP
Senior manager
2005 - 2006

NERA Economic Consulting
Consultant / senior consultant
1999 - 2005

Banque Paribas
Trader, structured finance
1997 - 1999

QRM, Inc.
Senior consultant