FTI Consulting
| File:FTI Consulting logo.svg | |
| File:Thurman Arnold Building - Washington, DC.jpg Corporate headquarters located in the Thurman Arnold Building | |
| Company type | Public company |
|---|---|
| Industry | Professional services |
| Founded | 1982 (initially as Forensic Technologies International) |
| Founders |
|
| Headquarters | Washington, D.C., U.S. |
Area served | Global |
Key people | Steve Gunby (President and CEO) |
| Services | Corporate finance and restructuring, economic consulting, forensic and litigation consulting, technology solutions, strategic communications, strategy consulting |
| Revenue | Increase Template:US$ (2022) |
Number of employees | 7,600+ |
| Website | fticonsulting |
FTI Consulting—originally established as Forensic Technologies International in 1982—is a worldwide business advisory firm headquartered in Washington, D.C.. It specializes in areas including corporate finance and restructuring, economic consulting, forensic and litigation advisory, technology services, strategic communications, and strategy consulting. With a workforce exceeding 7,700 professionals operating in 31 countries, it stands among the foremost financial consulting organizations globally.
The firm has played pivotal roles in significant matters such as advising during the bankruptcies of Lehman Brothers and General Motors, conducting investigations into the Bernard Madoff Ponzi scheme, involvement in the Bush v. Gore legal dispute, Major League Baseball’s steroid probe, as well as managing public relations efforts for clients within the fossil fuel sector. These engagements underscore FTI Consulting’s extensive expertise and influence across diverse industries.
As of January 2020, FTI led the largest restructuring advisory practice in the United States. Its clientele comprises 98 of the world’s top 100 law firms (according to The American Lawyer Global 100), 83 companies from the Fortune 100 list, 64 of the leading 100 private equity firms (Private Equity International 300), and 38 out of the top 50 global bank holding companies. Additionally, FTI provides services to numerous federal, state, and local government bodies.
The organization’s growth strategy centers on offering a wide spectrum of services across various sectors to sustain competitive differentiation and foster global expansion. Under CEO Steve Gunby’s leadership, emphasis is placed on strategic direction and operational excellence to ensure robust financial results and market share growth.
History and acquisitions
Founded in 1982 by engineers Joseph Reynolds and Daniel Luczak as Forensic Technologies International, the company initially focused on delivering expert witness testimony and visual litigation presentations. Daniel Luczak held the chairman position from 1992 until 1998. The firm went public in May 1996 with an $11.1 million capital raise; shares debuted at $8.50 per share, marking it as one of the first litigation support companies to enter public markets.
In 1998, the business rebranded as FTI Consulting and began trading on the New York Stock Exchange under the ticker FCN in 1999. Following this period, FTI concentrated on assisting financially distressed organizations through bankruptcy proceedings or creditor negotiations. After the enactment of the Sarbanes-Oxley Act in 2002—which restricted auditors’ consulting activities—FTI significantly grew its Forensic and Litigation Consulting division by adding over a thousand employees.
That same year, FTI acquired PricewaterhouseCoopers’ U.S. Business Recovery Services Division for $250 million; at that time it was recognized as the largest bankruptcy and restructuring service provider in the United States. In subsequent years, FTI expanded by purchasing KPMG’s Dispute Advisory Services unit and acquiring Chicago-based Compass Lexecon in 2003 while maintaining Compass Lexecon as a subsidiary.
To enhance its technology capabilities, FTI acquired Ringtail Solutions Group in 2005—known for its Ringtail Discovery Software Suite used for e-discovery and document management tasks. In 2008, after acquiring Attenex Corporation, FTI combined their offerings to launch Ringtail 8 E-discovery Software.
The creation of FTI’s Strategic Communications Division was driven by acquiring London-based Financial Dynamics in 2006. By 2007, FTI had expanded into Latin America and surpassed $1 billion in annual revenue. The following year saw further acquisitions including New York’s Schonbraun McCann Group specializing in real estate consulting and a forensic accounting practice based in the UK.
International growth continued with the purchase of Hong Kong’s FS Asia Advisory Limited in 2010. In January 2014, coinciding with Steven H. Gunby becoming CEO, FTI acquired London-based TLG Partners—known for their thought leader rankings.
In recognition of its leadership role within restructuring advisory services for distressed companies—named by The Deal magazine as the top global adviser in this field in 2015—FTI pursued further strategic acquisitions such as New York-based CDG Group in 2017 and German restructuring consultancy Andersch AG for $18.8 million in 2019 to strengthen its European footprint.
Criticism and controversies
In 2023, FTI Consulting was engaged by Johnny & Associates to facilitate a press conference responding to sexual abuse accusations linked to its deceased founder, Johnny Kitagawa. According to Japanese public broadcaster NHK, the firm maintained a 'blacklist' of journalists barred from attending the event. FTI confirmed the existence of this blacklist along with a roster of preferred reporters, both of which were shared with the conference moderator. The intention behind this approach was to exclude journalists who might pose prolonged or insensitive inquiries that could cause further harm to the victims. FTI indicated that this protocol for the press conference was established in collaboration with the talent agency. Akihiro Nojiri, Senior Managing Director of Strategic Communications at FTI Consulting Japan, refrained from commenting on whether such lists were appropriate.
In 2020, The New York Times disclosed FTI's role in supporting campaigns for the fossil fuel sector. The company was reported to have assisted in creating, staffing, and managing organizations and websites financed by energy corporations that presented themselves as grassroots movements advocating for fossil fuel interests.