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{{Short description|American business consultancy firm}}
{{Infobox company
{{Infobox company
|name = FTI Consulting
| name = FTI Consulting, Inc.
|logo = Hd fti logo lg.gif
| logo = FTI Consulting logo.svg
| logo_size =
⚫
|type = [[Corporation]]
| image = Thurman Arnold Building - Washington, DC.jpg
|traded_as = {{NYSE|FCN}}
| image_caption= Headquarters at the Thurman Arnold Building
|foundation = 1982
⚫
| type = [[Public company]]
⚫
|founder = Joe Reynolds, Dan Luczak
| traded_as = {{Unbulleted list|{{NYSE|FCN}}|[[List of S&P 400 companies|S&P 400]] component}}
⚫
|location = [[Washington, D.C.]] (global)
⚫
| founders = {{ubl|Joe Reynolds|Dan Luczak}}
|area_served = Worldwide
| area_served = Worldwide
|key_people = Steve Gunby<br>{{small|(President and CEO)}}
| key_people = Steve Gunby {{small|(President and CEO)}}
⚫
|num_employees = 4,400<ref name=wapo>[http://www.fticonsulting.com/our-firm/global-reach/index.aspx FTI Consulting: Global Reach]</ref>
|industry = [[Professional services]]
| industry = [[Professional services]]
|services = Corporate Finance & Restructuring<br />Economic Consulting<br />Forensic and Litigation Consulting<br />Technology<br />Strategic Communications
| services = Corporate finance & restructuring, economic consulting, forensic and litigation consulting, technology, strategic communications
|revenue = {{profit}}[[United States dollar|US$]]1.76 billion <small>(2014)</small>
| revenue = {{profit}} {{US$|3.03 billion|link=yes}} (2022)
⚫
| num_employees = 7,600+<ref name=wapo>{{cite web|url=http://www.fticonsulting.com/about/locations|title=Office Locations - FTI Consulting Offices|website=fticonsulting.com}}</ref>
⚫
|website = http://www.fticonsulting.com
| founded = {{start date and age|1982}} (as Forensic Technologies International)
⚫
| location = [[Washington, D.C.]], U.S.
⚫
| website = {{URL|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.<ref name=wapo/>


'''FTI Consulting''' (earlier '''Forensics Technologies International''') is a [[business advisor|business consultanc]]y [[firm]] founded in 1982 and headquartered in [[Washington, D.C.]], [[United States]]. The company specializes in [[corporate finance]] and [[restructuring]], [[economic consulting]], forensic and litigation consulting, [[strategic communications]] and technology.<ref>{{Cite web |title=About {{!}} FTI Consulting |url=https://www.fticonsulting.com/about |access-date=2023-03-29 |website=www.fticonsulting.com}}</ref> FTI Consulting employs more than 7,700 staff in 31 countries and is one of the largest financial consulting firms worldwide.<ref name="wapo" /><ref>{{Cite web |title=The Top 50 Consulting Firms In 2019 By Revenue, Prestige, Growth & Employee Satisfaction |url=https://www.consulting.com/top-consulting-firms |access-date=2019-05-15 |website=consulting.com |language=en |archive-date=2019-09-02 |archive-url=https://web.archive.org/web/20190902194211/https://www.consulting.com/top-consulting-firms |url-status=dead }}</ref><ref>{{Cite web |title=America's Best Management Consulting Firms |url=https://www.forbes.com/best-management-consulting-firms/ |access-date=2019-05-15 |website=Forbes |language=en}}</ref>
The firm was involved in the [[bankruptcy of Lehman Brothers]]<ref>[http://www.bloomberg.com/apps/news?pid=newsarchive&sid=al1epyQ7IkBs "Lehman Creditors Panel Hires FTI Consulting, Houlihan Lokey"] ''Bloomberg News'' 18 September 2008.</ref> and [[General Motors bankruptcy|General Motors bankruptcies]]<ref name=v>[http://www.bizjournals.com/southflorida/print-edition/2012/01/27/fti-consulting-chairman-west-palm.html FTI Consulting chairman: West Palm Beach is good for business] ''South Florida Business Journal'' 27 Jan. 2012.</ref> and the investigation into the [[Bernard Madoff]] fraud.<ref>[http://money.cnn.com/2011/02/16/news/companies/madoff_assets_lawyers_payments/index.htm "Lawyers make millions off Madoff mess"] ''CNNMoney'' 16 Feb. 2011</ref> As of September 2011, FTI Consulting had the largest [[restructuring]] business in the U.S.<ref name=w>[http://www.washingtonpost.com/business/capitalbusiness/fti-consulting-raises-profile/2011/07/27/gIQAcyghlI_story.html "FTI Raises Profile."] ''Washington Post'' 31 Jul. 2011; [http://www.washingtonpost.com/business/capitalbusiness/fti-consulting-raises-profile/2011/07/27/gIQAcyghlI_story.html "Baltimore consulting firm ready to put 25 companies under one name."] ''The Washington Post'' 31 July 2011.</ref> In 2009, FTI Consulting was listed as one of the 100 fastest growing U.S. companies.<ref>[http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2009/snapshots/61.html "100 Fastest-Growing Companies 2009 FTI Consulting - FCN - from FORTUNE."] ''CNNMoney'' June 2012.</ref>


The firm was involved in the [[bankruptcy of Lehman Brothers|Lehman Brothers]]<ref>[https://www.bloomberg.com/apps/news?pid=newsarchive&sid=al1epyQ7IkBs "Lehman Creditors Panel Hires FTI Consulting, Houlihan Lokey"] ''Bloomberg News'' 18 September 2008.</ref> and [[General Motors bankruptcy|General Motors bankruptcies]],<ref name=v>[http://www.bizjournals.com/southflorida/print-edition/2012/01/27/fti-consulting-chairman-west-palm.html FTI Consulting chairman: West Palm Beach is good for business] ''South Florida Business Journal'' 27 Jan. 2012.</ref> the investigation into the [[Bernard Madoff]] fraud,<ref>[https://money.cnn.com/2011/02/16/news/companies/madoff_assets_lawyers_payments/index.htm "Lawyers make millions off Madoff mess"] ''CNNMoney'' 16 Feb. 2011</ref> ''[[Bush v. Gore]]'',<ref name=":0"/> the [[Major League Baseball]] [[Doping in baseball|steroid investigation]],<ref>{{Cite book|url=https://books.google.com/books?id=aT8j6zFKSzkC|title=Kiplinger's Personal Finance|date=2008-06-01|publisher=Kiplinger Washington Editors, Inc.|language=en}}</ref> and public relations works for fossil fuel industry clients.<ref name="HuffPost_20191218">{{Cite news |title=Fossil Fuel Giants Claim To Support Climate Science, Yet Still Fund Denial |newspaper=HuffPost |url=https://www.huffpost.com/entry/climate-denial-energy-in-depth_n_5df7eff6e4b0ae01a1e59371 |date=2019-12-18 |author=Paul D. Thacker |access-date=2023-10-09 |language=English}}</ref><ref name="NYTimes_20201111">{{Cite news |title=How One Firm Drove Influence Campaigns Nationwide for Big Oil |newspaper=New York Times |date=2020-11-11 |author=Hiroko Tabuchi |author-link=Hiroko Tabuchi |url=https://www.nytimes.com/2020/11/11/climate/fti-consulting.html |access-date=2023-10-09 |language=English}}</ref><ref name="FT_20201116">{{Cite news |title=FTI Consulting faces client backlash over oil industry work |newspaper=Financial Times |date=2020-11-16 |author=Billy Nauman |url=https://www.ft.com/content/e23b1e17-6a5a-4e18-bd0a-5ad289dfc05c |access-date=2023-10-09 |language=English}}</ref><ref name="FT_20201122">{{Cite news |title=FTI axed by clients in fallout over oil industry work |newspaper=Financial Times |date=2020-11-22 |author=Billy Nauman |author2=Attracta Mooney |author3=Chris Flood |url=https://www.ft.com/content/1eb50b8e-5640-4da8-a718-911a0cb7e4fd |access-date=2023-10-09 |language=English}}</ref><ref name="House_Committee_20220817">{{cite web | url=https://democrats-naturalresources.house.gov/media/press-releases/chair-grijalva-rep-porter-send-second-request-letter-to-fossil-fuel-public-relations-firm-fti-consulting-threaten-subpoena_ | title=Chair Grijalva, Rep. Porter Send Second Request Letter to Fossil Fuel Public Relations Firm FTI Consulting, Threaten Subpoena | work=U.S. House Committee on Natural Resources | date=2022-08-17 | access-date=2023-10-08 }}</ref><ref name="DeSmog_20220826">{{Cite news |title=House Committee Poised for Potential Subpoena of PR Firm for Climate Disinformation |newspaper=DeSmog |date=2022-08-26 |author=Nick Cunninghamon |url=https://www.desmog.com/2022/08/26/fti-consulting-fossil-fuels-work-climate-disinformation-house-natural-resources-subpoena/ |access-date=2023-10-09 |language=English}}</ref><ref name="DeSmog_20221130">{{Cite news |title=The PR Industry Has Been a 'Major' But 'Overlooked' Influence in Climate Politics for Decades, Says Study |newspaper=DeSmog |date=2022-11-30 |author=Nick Cunninghamon |url=https://www.desmog.com/2021/11/30/pr-industry-major-overlooked-influence-climate-politics-brulle/ |access-date=2023-10-09 |language=English}}</ref>
==Partnerships and Sponsorships==


As of January 2020, FTI Consulting had the largest restructuring business in the US.<ref>{{Cite web|url=https://leaguetables.thedeal.com/power-ranking/pr-2019/q4-3/|title=The Deal: Power Rankings}}</ref> As of December 31, 2023, FTI´s clients include 98 of the world’s top 100 law firms as ranked by The American Lawyer Global 100 list, 83 out of the Fortune 100 companies, 64 of the top 100 private equity firms on the Private Equity International 300 list and 38 out of the world’s top 50 bank holding companies. In addition, they also serve a broad range of federal, state and local government agencies.<ref>https://ir.fticonsulting.com/shareholder-services/investor-faqs {{Bare URL inline|date=August 2024}}</ref>
FTI Consulting has established partnerships with companies and organizations in several fields. It is a member of the [[World Economic Forum]].<ref>[http://www.weforum.org/contributors/lord-mark-malloch-brown World Economic Forum website] 1 May 2012</ref> 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.<ref>[http://www.ft.com/intl/cms/s/0/086aa4ee-4392-11e1-adda-00144feab49a.html#axzz1stgk3JWT "Larger Asia Companies Look To Europe"] ''Financial Times'' 22 January 2011.</ref>
==History and acquisitions==
Forensic Technologies International was founded in 1982 by two engineers, Joseph Reynolds and Daniel Luczak, to provide [[expert witness]]es for litigation and visual presentations to demonstrate complex technical issues for juries. Luczak later served as FTI's chairman from 1992 to 1998. The company went public in May 1996, raising $11.1&nbsp;million and debuting at $8.50 a share. It was one of the first litigation support companies to be publicly traded.<ref>{{Cite news|url=https://www.washingtonpost.com/archive/business/1998/06/08/a-case-for-courtroom-presentations/dbff5862-2bcf-4dcc-8bde-e1b2da8bd4d8/|title=A CASE FOR COURTROOM PRESENTATIONS|newspaper=Washington Post|access-date=2016-05-20}}</ref><ref name=":0">{{Cite news|url=https://www.washingtonpost.com/archive/business/2001/08/13/its-a-grand-time-to-be-a-workout-artist/49c5c577-e470-4aa3-babb-3e063d876283/|title=It's a Grand Time to Be a Workout Artist|newspaper=Washington Post|access-date=2016-05-21}}</ref>


Forensic Technologies International rebranded itself as FTI Consulting in 1998, and in 1999 began trading on the [[New York Stock Exchange]] as FCN.<ref>{{Cite web|url=http://www.referenceforbusiness.com/history2/41/FTI-Consulting-Inc.html|title=FTI Consulting, Inc. - Company Profile, Information, Business Description, History, Background Information on FTI Consulting, Inc.|website=referenceforbusiness.com|access-date=2016-05-21}}</ref><ref name="fticonsulting-emea.com">{{Cite web|url=http://www.fticonsulting-emea.com/en/about/our-history|title=Company History {{!}} Business Growth {{!}} FTI Consulting EMEA|website=fticonsulting-emea.com|access-date=2016-05-21}}</ref> After 1998, FTI's business focused increasingly on "financial surgery on troubled companies, either through bankruptcy proceedings or in workout situations with creditors."<ref name=":0" />
==Acquisitions==


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.<ref>[http://www.washingtonpost.com/business/capitalbusiness/fti-consulting-raises-profile/2011/07/27/gIQAcyghlI_story.html FTI Consulting Raises Profile]</ref> 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.<ref>FTI Consulting To Acquire U.S. Business Recovery Services Division ("BRS) Of PricewaterhouseCoopers [http://www.prnewswire.com/news-releases/fti-consulting-to-acquire-us-business-recovery-services-division-of-pricewaterhousecoopers-76387017.html]</ref> The company purchased [[KPMG]]'s Dispute Advisory Services in 2003.<ref>FTI Consulting Completes Acquisition of KPMG's Dispute Advisory Services [http://www.pressreleasepoint.com/fti-consulting-completes-acquisition-dispute-advisory-services-business-kpmg]</ref>
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. FTI Consulting purchased [[PricewaterhouseCoopers]]' U.S. Business Recovery Services Division ("BRS") for $250&nbsp;million in 2002, which at the time was the largest provider of bankruptcy, turnaround, and business restructuring services in the [[United States]].<ref>{{Cite news|url=https://www.washingtonpost.com/business/capitalbusiness/fti-consulting-raises-profile/2011/07/27/gIQAcyghlI_story.html|title=FTI Consulting raises profile|newspaper=Washington Post|access-date=2016-05-21}}</ref><ref>FTI Consulting To Acquire U.S. Business Recovery Services Division ("BRS) Of PricewaterhouseCoopers [http://www.prnewswire.com/news-releases/fti-consulting-to-acquire-us-business-recovery-services-division-of-pricewaterhousecoopers-76387017.html]</ref> The company purchased [[KPMG]]'s Dispute Advisory Services in 2003.<ref>FTI Consulting Completes Acquisition of KPMG's Dispute Advisory Services [http://www.pressreleasepoint.com/fti-consulting-completes-acquisition-dispute-advisory-services-business-kpmg]</ref> The company purchased Chicago-based [[Compass lexecon|Compass Lexecon]] in 2003, maintaining the name as a subsidiary.<ref>{{cite web |url=http://www.compasslexecon.com/highlights/lexecon-to-be-acquired-by-fti-consulting/?year=2003 |title=Lexecon To Be Acquired by FTI Consulting |publisher=Compass Lexecon |date=September 25, 2003 |access-date=May 5, 2015 |archive-url=https://web.archive.org/web/20150923205734/http://www.compasslexecon.com/highlights/lexecon-to-be-acquired-by-fti-consulting/?year=2003 |archive-date=September 23, 2015 |url-status=dead }}</ref>


FTI acquired Ringtail Solutions Group in 2005.<ref>[http://www.prnewswire.com/news-releases/fti-consulting-to-acquire-ringtail-solutions-54134007.html FTI to pay $35M for Ringtail]</ref> 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.
FTI acquired Ringtail Solutions Group in 2005.<ref>{{cite web|url=http://www.prnewswire.com/news-releases/fti-consulting-to-acquire-ringtail-solutions-54134007.html|title=FTI Consulting to Acquire Ringtail Solutions|author=FTI Consulting|website=prnewswire.com}}</ref> 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. FTI acquired Attenex Corporation in 2008<ref>{{cite web|url=http://www.prnewswire.com/news-releases/fti-consulting-inc-to-acquire-attenex-corporation-57440417.html|title=FTI Consulting, Inc. to Acquire Attenex Corporation|author=FTI Consulting|website=prnewswire.com}}</ref> and merged Attenex Patterns with Ringtail Discovery Software Suite to form Ringtail 8 E-discovery Software.<ref>{{Cite news|url=http://www.ftitechnology.com/company/press-releases/fti-launch-ringtail-8-e-discovery-software|title=FTI to Launch Ringtail 8 E-discovery Software|website=FTI Technology|access-date=2016-05-23}}</ref>


The company purchased Chicago-based [[Compass lexecon|Compass Lexecon]] in 2006.<ref>{{cite web |url=http://www.compasslexecon.com/highlights/lexecon-to-be-acquired-by-fti-consulting/?year=2003 |title=Lexecon To Be Acquired by FTI Consulting |publisher=Compass Lexecon |date=September 25, 2003}}</ref> The same year, the company acquired the London-based communications consultancy Financial Dynamics ("FD").<ref>{{cite web |url=http://www.prnewswire.co.uk/news-releases/fti-consulting-to-acquire-financial-dynamics-153583255.html |title=FTI Consulting to Acquire Financial Dynamics |publisher=PR Newswire |date=September 11, 2006}}</ref> FD is now referred to as the Strategic Communications Division of FTI.
In 2006, the company acquired the London-based communications consultancy Financial Dynamics ("FD").<ref>{{cite web |url=http://www.prnewswire.co.uk/news-releases/fti-consulting-to-acquire-financial-dynamics-153583255.html |title=FTI Consulting to Acquire Financial Dynamics |publisher=PR Newswire |date=September 11, 2006}}</ref> FD is now referred to as the Strategic Communications Division of FTI. In 2007, FTI expanded into [[Latin America]] and reported US$1&nbsp;billion in annual revenue for the first time.<ref name="fticonsulting-emea.com"/><ref>{{Cite book|url=https://books.google.com/books?id=qeZy4K_FolsC|title=Plunkett's Companion to the Almanac of American Employers 2008: Mid-Size Firms|last=Plunkett|first=Jack W.|date=2008-03-01|publisher=Plunkett Research, Ltd.|isbn=9781593921071|language=en}}</ref>


In 2008, FTI purchased the Schonbraun McCann Group, a real estate consulting firm based in [[New York (state)|New York]], and Forensic Accounting, a forensic accounting practice based in the [[United Kingdom|UK]].<ref>{{Cite web|url=http://www.nasdaq.com/article/fti-consulting-inc-fcn-new-analyst-report-from-zacks-equity-research-zacks-equity-research-report-cm308184|title=FTI Consulting Inc. (FCN): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report|date=2013-12-02|website=NASDAQ.com|access-date=2016-05-20}}</ref>
In 2008, the Company purchased the Schonbraun McCann Group, a consulting firm based in New York and leading advisor to the Real Estate industry.


In 2009, FTI Consulting was listed by [[Fortune (magazine)|''Fortune'']] as one of the 100 fastest-growing U.S. companies.<ref>[https://money.cnn.com/magazines/fortune/fortunefastestgrowing/2009/snapshots/61.html "100 Fastest-Growing Companies 2009 FTI Consulting - FCN - from FORTUNE."] ''CNNMoney'' June 2012.</ref>
As of October 2011, the company has maintained the Compass Lexecon name.

In 2010, FS Asia Advisory Limited was acquired in [[Hong Kong]], expanding FTI's activities in Asia.<ref>{{Cite web|url=http://www.streetinsider.com/Corporate+News/FTI+Consulting+%2528FCN%2529+Completes+Acquisition+of+FS+Asia+Advisory+Limited/5910358.html|title=FTI Consulting (FCN) Completes Acquisition of FS Asia Advisory Limited|website=StreetInsider.com|access-date=2016-05-20}}</ref> In January 2014, FTI Consulting acquired [[London]]-based [[TLG index of thought leaders|TLG Partners]], which produced a series of annual [[thought leader]] indexes.<ref>{{cite web|last=Farey |first=Daniel |url=http://www.prweek.com/article/1220309/fti-consulting-advanced-talks-tlg-partners |title=FTI Consulting in advanced talks with TLG Partners |publisher=PR Week |date=2013-11-08 |access-date=2014-01-24}}</ref><ref>{{cite web|last=Farey |first=Daniel |url=http://www.prweek.com/article/1227183/fti-consulting-finalises-acquisition-tlg |title=FTI Consulting finalises acquisition of TLG |publisher=PR Week |date=2014-01-15 |access-date=2014-01-24}}</ref><ref>{{cite web|url=http://www.tlgpartners.com/ |title=TLG |publisher=Tlgpartners.com |access-date=2014-01-24}}</ref> In the same month, Steven H. Gunby was named the firm's new president and [[chief executive officer]].<ref>{{Cite web|url=https://dealbook.nytimes.com/2014/07/31/fti-consulting-names-new-c-f-o/?_r=0|title=FTI Consulting Names New C.F.O.|last=Ember|first=Sydney|website=DealBook|date=31 July 2014 |access-date=2016-05-21}}</ref>

In 2015, [[The Deal (magazine)|''The Deal'']] named FTI Consulting the world's top restructuring adviser to distressed companies.<ref>{{Cite press release|url=http://www.prnewswire.com/news-releases/the-deal-announces-q4-2015-out-of-court-restructuring-league-tables-300219215.html|title=The Deal Announces Q4 2015 Out-of-Court Restructuring League Tables|author=TheStreet|website=prnewswire.com|access-date=2016-05-23}}</ref>

In 2017, the company acquired the CDG Group, a leading restructuring advisory, turnaround management, value enhancement, and transaction advisory firm in New York.<ref>{{Cite web |title=Our History {{!}} About {{!}} FTI Consulting |url=https://www.fticonsulting.com/about/our-history |access-date=2023-03-15 |website=www.fticonsulting.com}}</ref>

==Criticism and controversies==
In 2023, the company was hired by [[Johnny & Associates]] to manage a press conference addressing [[Johnny Kitagawa sexual abuse scandal|sexual abuse by its late founder]] [[Johnny Kitagawa]]. The Japanese public broadcaster [[NHK]] reported that the consulting firm had a 'blacklist' of journalists to avoid calling on during the event.<ref>{{cite news |last1=Benoza |first1=Kathleen |last2=Kaneko |first2=Karin |date=2023-10-04 |title=Johnny's news conference had journalist 'blacklist,' reports say |url=https://www.japantimes.co.jp/news/2023/10/04/japan/society/johnnys-reporter-blacklist/ |work=The Japan Times |location= |access-date=2023-10-04}}</ref><ref>{{cite news |date=2023-10-04 |title=Johnny & Associates denies involvement in blacklisting journalists |url=https://www3.nhk.or.jp/nhkworld/en/news/20231005_04/ |work=NHK |access-date=2023-10-04}}</ref> FTI admitted the existence of the 'blacklist' as well as a list of reporters who should preferably be given a chance to ask a question.<ref name="NHK_20231005">{{cite news |date=2023-10-05 |title=Consulting firm apologizes for Johnny's news conference journalist blacklist |url=https://www3.nhk.or.jp/nhkworld/en/news/20231005_32/ |work=NHK |access-date=2023-10-05}}</ref><ref name="Yomiuri_20231005">{{cite news | url=https://www.yomiuri.co.jp/culture/tv/20231005-OYT1T50264/ | title=ジャニーズ会見ＮＧリスト、コンサル会社「配慮に基づく進行は事務所側も了承」…「指名候補記者リスト」も作成 |language=Japanese | work=The Yomiuri Shimbun| date=2023-10-05 | access-date=2023-10-05 }}</ref> The firm also admitted the lists were given to the conference modulator.<ref name="Yomiuri_20231005" /> Their concern about some reporters who would spend long periods talking about their own opinions or ask thoughtless questions (or remarks) that could be unnecessarily stressful and painful to the victims watching the press conference was given as a reason to prepare the list.<ref name="Yomiuri_20231005" /> FTI told the press that their press conference policy was confirmed with the talent agency.<ref name="Yomiuri_20231005" /> On whether it is a good system to prepare such lists, Akihiro Nojiri, Senior Managing Director of Strategic Communications at FTI Consulting Japan Office, said, "Well, I don't think I am in a position to judge whether it is good or not."<ref>{{cite web | url=https://bunshun.jp/articles/-/66302?page=5 | title=「この"NG"という言葉がね、非常に…」"ジャニーズ茶番会見"NGリスト作成の責任者を独占直撃！「発案したのは誰か…それは」《チームリーダーは元大蔵エリート官僚》 |language=Japanese | work=Bunshun Online | date=2023-10-06 | access-date=2023-10-07 }} Nojiri said "まあ、いいかどうかというのは私自身は判断する立場じゃないと思ってますので。" in Japanese.</ref>

==See also==
* [[ArmorGroup]]
* [[Eurasia Group]]
* [[Le Beck International]]
* [[Pinkerton Government Services, Inc.|Pinkerton]]
* [[Edelman (firm)]]
* [[Finsbury (public relations)]]
* [[Teneo]]


== References ==
== References ==
{{Reflist|2}}
{{Reflist}}

{{Consulting}}
{{S&P 400 companies}}
{{Authority control}}


[[Category:Financial services companies of the United States]]
[[Category:Financial services companies based in Washington, D.C.]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies established in 1982]]
[[Category:Companies in the S&P 400]]
[[Category:Financial services companies established in 1982]]
[[Category:Consulting firms established in 1982]]
[[Category:American companies established in 1982]]
[[Category:1982 establishments in Washington, D.C.]]
[[Category:1982 establishments in Washington, D.C.]]
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[[Category:International management consulting firms]]
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[[Category:1996 initial public offerings]]

Latest revision as of 17:14, 4 October 2024

FTI Consulting, Inc.
Company typePublic company
IndustryProfessional services
Founded1982; 42 years ago (1982) (as Forensic Technologies International)
Founders
  • Joe Reynolds
  • Dan Luczak
HeadquartersWashington, D.C., U.S.
Area served
Worldwide
Key people
Steve Gunby (President and CEO)
ServicesCorporate finance & restructuring, economic consulting, forensic and litigation consulting, technology, strategic communications
RevenueIncrease US$3.03 billion (2022)
Number of employees
7,600+[1]
Websitefticonsulting.com

FTI Consulting (earlier Forensics Technologies International) is a business consultancy firm founded in 1982 and headquartered in Washington, D.C., United States. The company specializes in corporate finance and restructuring, economic consulting, forensic and litigation consulting, strategic communications and technology.[2] FTI Consulting employs more than 7,700 staff in 31 countries and is one of the largest financial consulting firms worldwide.[1][3][4]

The firm was involved in the Lehman Brothers[5] and General Motors bankruptcies,[6] the investigation into the Bernard Madoff fraud,[7] Bush v. Gore,[8] the Major League Baseball steroid investigation,[9] and public relations works for fossil fuel industry clients.[10][11][12][13][14][15][16]

As of January 2020, FTI Consulting had the largest restructuring business in the US.[17] As of December 31, 2023, FTI´s clients include 98 of the world’s top 100 law firms as ranked by The American Lawyer Global 100 list, 83 out of the Fortune 100 companies, 64 of the top 100 private equity firms on the Private Equity International 300 list and 38 out of the world’s top 50 bank holding companies. In addition, they also serve a broad range of federal, state and local government agencies.[18]

History and acquisitions

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Forensic Technologies International was founded in 1982 by two engineers, Joseph Reynolds and Daniel Luczak, to provide expert witnesses for litigation and visual presentations to demonstrate complex technical issues for juries. Luczak later served as FTI's chairman from 1992 to 1998. The company went public in May 1996, raising $11.1 million and debuting at $8.50 a share. It was one of the first litigation support companies to be publicly traded.[19][8]

Forensic Technologies International rebranded itself as FTI Consulting in 1998, and in 1999 began trading on the New York Stock Exchange as FCN.[20][21] After 1998, FTI's business focused increasingly on "financial surgery on troubled companies, either through bankruptcy proceedings or in workout situations with creditors."[8]

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. FTI Consulting purchased PricewaterhouseCoopers' U.S. Business Recovery Services Division ("BRS") for $250 million in 2002, which at the time was the largest provider of bankruptcy, turnaround, and business restructuring services in the United States.[22][23] The company purchased KPMG's Dispute Advisory Services in 2003.[24] The company purchased Chicago-based Compass Lexecon in 2003, maintaining the name as a subsidiary.[25]

FTI acquired Ringtail Solutions Group in 2005.[26] 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. FTI acquired Attenex Corporation in 2008[27] and merged Attenex Patterns with Ringtail Discovery Software Suite to form Ringtail 8 E-discovery Software.[28]

In 2006, the company acquired the London-based communications consultancy Financial Dynamics ("FD").[29] FD is now referred to as the Strategic Communications Division of FTI. In 2007, FTI expanded into Latin America and reported US$1 billion in annual revenue for the first time.[21][30]

In 2008, FTI purchased the Schonbraun McCann Group, a real estate consulting firm based in New York, and Forensic Accounting, a forensic accounting practice based in the UK.[31]

In 2009, FTI Consulting was listed by Fortune as one of the 100 fastest-growing U.S. companies.[32]

In 2010, FS Asia Advisory Limited was acquired in Hong Kong, expanding FTI's activities in Asia.[33] In January 2014, FTI Consulting acquired London-based TLG Partners, which produced a series of annual thought leader indexes.[34][35][36] In the same month, Steven H. Gunby was named the firm's new president and chief executive officer.[37]

In 2015, The Deal named FTI Consulting the world's top restructuring adviser to distressed companies.[38]

In 2017, the company acquired the CDG Group, a leading restructuring advisory, turnaround management, value enhancement, and transaction advisory firm in New York.[39]

Criticism and controversies

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In 2023, the company was hired by Johnny & Associates to manage a press conference addressing sexual abuse by its late founder Johnny Kitagawa. The Japanese public broadcaster NHK reported that the consulting firm had a 'blacklist' of journalists to avoid calling on during the event.[40][41] FTI admitted the existence of the 'blacklist' as well as a list of reporters who should preferably be given a chance to ask a question.[42][43] The firm also admitted the lists were given to the conference modulator.[43] Their concern about some reporters who would spend long periods talking about their own opinions or ask thoughtless questions (or remarks) that could be unnecessarily stressful and painful to the victims watching the press conference was given as a reason to prepare the list.[43] FTI told the press that their press conference policy was confirmed with the talent agency.[43] On whether it is a good system to prepare such lists, Akihiro Nojiri, Senior Managing Director of Strategic Communications at FTI Consulting Japan Office, said, "Well, I don't think I am in a position to judge whether it is good or not."[44]

See also

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References

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  1. ^ a b "Office Locations - FTI Consulting Offices". fticonsulting.com.
  2. ^ "About | FTI Consulting". www.fticonsulting.com. Retrieved 2023-03-29.
  3. ^ "The Top 50 Consulting Firms In 2019 By Revenue, Prestige, Growth & Employee Satisfaction". consulting.com. Archived from the original on 2019-09-02. Retrieved 2019-05-15.
  4. ^ "America's Best Management Consulting Firms". Forbes. Retrieved 2019-05-15.
  5. ^ "Lehman Creditors Panel Hires FTI Consulting, Houlihan Lokey" Bloomberg News 18 September 2008.
  6. ^ FTI Consulting chairman: West Palm Beach is good for business South Florida Business Journal 27 Jan. 2012.
  7. ^ "Lawyers make millions off Madoff mess" CNNMoney 16 Feb. 2011
  8. ^ a b c "It's a Grand Time to Be a Workout Artist". Washington Post. Retrieved 2016-05-21.
  9. ^ Kiplinger's Personal Finance. Kiplinger Washington Editors, Inc. 2008-06-01.
  10. ^ Paul D. Thacker (2019-12-18). "Fossil Fuel Giants Claim To Support Climate Science, Yet Still Fund Denial". HuffPost. Retrieved 2023-10-09.
  11. ^ Hiroko Tabuchi (2020-11-11). "How One Firm Drove Influence Campaigns Nationwide for Big Oil". New York Times. Retrieved 2023-10-09.
  12. ^ Billy Nauman (2020-11-16). "FTI Consulting faces client backlash over oil industry work". Financial Times. Retrieved 2023-10-09.
  13. ^ Billy Nauman; Attracta Mooney; Chris Flood (2020-11-22). "FTI axed by clients in fallout over oil industry work". Financial Times. Retrieved 2023-10-09.
  14. ^ "Chair Grijalva, Rep. Porter Send Second Request Letter to Fossil Fuel Public Relations Firm FTI Consulting, Threaten Subpoena". U.S. House Committee on Natural Resources. 2022-08-17. Retrieved 2023-10-08.
  15. ^ Nick Cunninghamon (2022-08-26). "House Committee Poised for Potential Subpoena of PR Firm for Climate Disinformation". DeSmog. Retrieved 2023-10-09.
  16. ^ Nick Cunninghamon (2022-11-30). "The PR Industry Has Been a 'Major' But 'Overlooked' Influence in Climate Politics for Decades, Says Study". DeSmog. Retrieved 2023-10-09.
  17. ^ "The Deal: Power Rankings".
  18. ^ https://ir.fticonsulting.com/shareholder-services/investor-faqs [bare URL]
  19. ^ "A CASE FOR COURTROOM PRESENTATIONS". Washington Post. Retrieved 2016-05-20.
  20. ^ "FTI Consulting, Inc. - Company Profile, Information, Business Description, History, Background Information on FTI Consulting, Inc". referenceforbusiness.com. Retrieved 2016-05-21.
  21. ^ a b "Company History | Business Growth | FTI Consulting EMEA". fticonsulting-emea.com. Retrieved 2016-05-21.
  22. ^ "FTI Consulting raises profile". Washington Post. Retrieved 2016-05-21.
  23. ^ FTI Consulting To Acquire U.S. Business Recovery Services Division ("BRS) Of PricewaterhouseCoopers [1]
  24. ^ FTI Consulting Completes Acquisition of KPMG's Dispute Advisory Services [2]
  25. ^ "Lexecon To Be Acquired by FTI Consulting". Compass Lexecon. September 25, 2003. Archived from the original on September 23, 2015. Retrieved May 5, 2015.
  26. ^ FTI Consulting. "FTI Consulting to Acquire Ringtail Solutions". prnewswire.com.
  27. ^ FTI Consulting. "FTI Consulting, Inc. to Acquire Attenex Corporation". prnewswire.com.
  28. ^ "FTI to Launch Ringtail 8 E-discovery Software". FTI Technology. Retrieved 2016-05-23.
  29. ^ "FTI Consulting to Acquire Financial Dynamics". PR Newswire. September 11, 2006.
  30. ^ Plunkett, Jack W. (2008-03-01). Plunkett's Companion to the Almanac of American Employers 2008: Mid-Size Firms. Plunkett Research, Ltd. ISBN 9781593921071.
  31. ^ "FTI Consulting Inc. (FCN): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report". NASDAQ.com. 2013-12-02. Retrieved 2016-05-20.
  32. ^ "100 Fastest-Growing Companies 2009 FTI Consulting - FCN - from FORTUNE." CNNMoney June 2012.
  33. ^ "FTI Consulting (FCN) Completes Acquisition of FS Asia Advisory Limited". StreetInsider.com. Retrieved 2016-05-20.
  34. ^ Farey, Daniel (2013-11-08). "FTI Consulting in advanced talks with TLG Partners". PR Week. Retrieved 2014-01-24.
  35. ^ Farey, Daniel (2014-01-15). "FTI Consulting finalises acquisition of TLG". PR Week. Retrieved 2014-01-24.
  36. ^ "TLG". Tlgpartners.com. Retrieved 2014-01-24.
  37. ^ Ember, Sydney (31 July 2014). "FTI Consulting Names New C.F.O." DealBook. Retrieved 2016-05-21.
  38. ^ TheStreet. "The Deal Announces Q4 2015 Out-of-Court Restructuring League Tables". prnewswire.com (Press release). Retrieved 2016-05-23.
  39. ^ "Our History | About | FTI Consulting". www.fticonsulting.com. Retrieved 2023-03-15.
  40. ^ Benoza, Kathleen; Kaneko, Karin (2023-10-04). "Johnny's news conference had journalist 'blacklist,' reports say". The Japan Times. Retrieved 2023-10-04.
  41. ^ "Johnny & Associates denies involvement in blacklisting journalists". NHK. 2023-10-04. Retrieved 2023-10-04.
  42. ^ "Consulting firm apologizes for Johnny's news conference journalist blacklist". NHK. 2023-10-05. Retrieved 2023-10-05.
  43. ^ a b c d "ジャニーズ会見ＮＧリスト、コンサル会社「配慮に基づく進行は事務所側も了承」…「指名候補記者リスト」も作成". The Yomiuri Shimbun (in Japanese). 2023-10-05. Retrieved 2023-10-05.
  44. ^ "「この"NG"という言葉がね、非常に…」"ジャニーズ茶番会見"NGリスト作成の責任者を独占直撃！「発案したのは誰か…それは」《チームリーダーは元大蔵エリート官僚》". Bunshun Online (in Japanese). 2023-10-06. Retrieved 2023-10-07. Nojiri said "まあ、いいかどうかというのは私自身は判断する立場じゃないと思ってますので。" in Japanese.
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