FTI Consulting

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FTI Consulting
Corporation
Traded as NYSEFCN
Industry Professional services
Founded 1982
Founder Dan Luczak
Headquarters Washington, D.C. (global)
Area served
Worldwide
Key people
Steve Gunby
(President and CEO)
Services Corporate Finance/Restructuring
Economic Consulting
Forensic and Litigation Consulting
Technology
Strategic Communications
Revenue IncreaseUS$1.76 billion (2014)
Number of employees
4,400[1]
Website http://www.fticonsulting.com

FTI Consulting is a business advisory firm headquartered in Washington, DC. The company specializes in the fields of corporate finance and restructuring, economic consulting, forensic and litigation consulting, strategic communications and technology. Founded as Forensic Technologies International Ltd in 1982, FTI Consulting employs more than 4,400 staff in 26 countries.[1]

The firm was involved in the bankruptcy of Lehman Brothers[2] and General Motors bankruptcies[3] and the investigation into the Bernard Madoff fraud.[4] As of September 2011, FTI Consulting had the largest restructuring business in the U.S.[5] In 2009, FTI Consulting was listed as one of the 100 fastest growing U.S. companies.[6]

Partnerships and Sponsorships[edit]

FTI Consulting has established partnerships with companies and organizations in several fields. It is a member of the World Economic Forum.[7] Some of the company's senior and regional leaders participate in the Forum's meetings, participating in several projects related to anti-corruption, energy and professional services principles.[8]

FTI Consulting is also a corporate sponsor of the New York Yankees.[3] In addition to this, FTI Consulting sponsors the professional golfers Charles Howell III[9] and Webb Simpson, the 2012 U.S. Open Champion and 2014 Ryder Cup team member.[9]

Acquisitions[edit]

The company added over 1,000 employees to its Forensic and Litigation Consulting ("FLC") division since the passing of the 2002 Sarbanes-Oxley Act, which excluded auditors from providing consulting work to their public clients.[10] FTI Consulting purchased PwC's U.S. Business Recovery Services Division ("BRS") in 2002, which at the time was the largest provider of bankruptcy, turnaround and business restructuring services in the United States.[11] The company purchased KPMG's Dispute Advisory Services in 2003.[12]

FTI acquired Ringtail Solutions Group in 2005.[13] Ringtail's signature product, the Ringtail Discovery Software Suite, provides e-discovery and document management tools to assist corporations and law firms during litigation engagements.

The company purchased Chicago-based Compass Lexecon in 2006.[14] The same year, the company acquired the London based communications consultancy Financial Dynamics ("FD").[15]FD is now referred to as the Strategic Communications Division of FTI.

In 2008, the Company purchased the Schonbraun McCann Group, a consulting firm based in New York and leading advisor to the Real Estate industry.

As of October 2011, the company has maintained the Compass Lexecon name.

In January 2014, FTI Consulting acquired London-based TLG Partners, which produced a series of annual thought leader indexes.[16][17][18]

References[edit]

  1. ^ a b FTI Consulting: Global Reach
  2. ^ "Lehman Creditors Panel Hires FTI Consulting, Houlihan Lokey" Bloomberg News 18 September 2008.
  3. ^ a b FTI Consulting chairman: West Palm Beach is good for business South Florida Business Journal 27 Jan. 2012.
  4. ^ "Lawyers make millions off Madoff mess" CNNMoney 16 Feb. 2011
  5. ^ "FTI Raises Profile." Washington Post 31 Jul. 2011; "Baltimore consulting firm ready to put 25 companies under one name." The Washington Post 31 July 2011.
  6. ^ "100 Fastest-Growing Companies 2009 FTI Consulting - FCN - from FORTUNE." CNNMoney June 2012.
  7. ^ World Economic Forum website 1 May 2012
  8. ^ "Larger Asia Companies Look To Europe" Financial Times 22 January 2011.; "FTI Chairman talks politics" Vault 31 Jan. 2011
  9. ^ a b "FTI Consulting, Inc. Continues Title Sponsorship of 2012 Winter Equestrian Festival" Horseweb 29 Mar. 2012.
  10. ^ FTI Consulting Raises Profile
  11. ^ FTI Consulting To Acquire U.S. Business Recovery Services Division ("BRS) Of PricewaterhouseCoopers [1]
  12. ^ FTI Consulting Completes Acquisition of KPMG's Dispute Advisory Services [2]
  13. ^ FTI to pay $35M for Ringtail
  14. ^ "Lexecon To Be Acquired by FTI Consulting". Compass Lexecon. September 25, 2003. 
  15. ^ "FTI Consulting to Acquire Financial Dynamics". PR Newswire. September 11, 2006. 
  16. ^ Farey, Daniel (2013-11-08). "FTI Consulting in advanced talks with TLG Partners". PR Week. Retrieved 2014-01-24. 
  17. ^ Farey, Daniel (2014-01-15). "FTI Consulting finalises acquisition of TLG". PR Week. Retrieved 2014-01-24. 
  18. ^ "TLG". Tlgpartners.com. Retrieved 2014-01-24.