He is now a member and interim chair of the Advisory Committee on Business Appointments, which advises the UK Prime Minister, Foreign Secretary and former Minsters on applications made to it under the Business Appointment Rules, about appointments former Ministers, senior civil servants and other Crown servants wish to take up on leaving government. 
Stevenson stepped down as chair after December 2014, when a new ACOBA chair was appointed.
He was a managing director of S.G. Warburg's investment banking business from 1987 to 1995 and Chairman of Mercury Asset Management Group plc from 1992 until 1998. He began his career at Linklaters & Paines solicitors after graduating from University College Oxford. He later took the Advanced Management Program at Harvard Business School.