Fti Consulting Inc - FCN STOCK NEWS

FTI Consulting (NYSE: FCN) has appointed Brian Knudson as Senior Managing Director in the Data & Technology Transformation practice within its Corporate Finance & Restructuring segment. Based in Chicago, Knudson brings over 35 years of experience in artificial intelligence and digital learning. He will focus on developing and implementing AI strategies across industries, creating custom solutions and applying existing AI technologies. Previously, Knudson served as Partner/Principal at Ernst & Young, where he led the Global and Americas Learning Services practice and established the EY Learning Lab, pioneering early AI tools deployment in production environments.

FTI Consulting reported Q3 2024 revenues of $926.0 million, up 3.7% from $893.3 million in the prior year quarter. Net income decreased to $66.5 million from $83.3 million, with EPS falling 21% to $1.85. The revenue growth was driven by higher demand in Economic Consulting and Technology segments, offset by lower demand in Corporate Finance & Restructuring. The company updated its full year 2024 guidance, now expecting revenues between $3.700-3.750 billion and EPS between $7.90-8.35. Cash position improved significantly with cash and cash equivalents of $386.3 million, compared to $201.1 million year-over-year.

FTI Consulting, Inc. (NYSE: FCN) has announced the appointment of Sunny Yi as Senior Managing Director and Leader of the North Asia Business Transformation practice. With over 30 years of experience in transformation, change management, and organization design, Mr. Yi brings expertise in financial services, private equity, manufacturing, and service-provider industries.

Prior to joining FTI Consulting, Mr. Yi held prominent roles including Managing Partner for Korea at a global consulting firm, Managing Partner at Bain & Company's Seoul office, and CEO of Shinhan Digital Solution Company. He has also served as an economic advisor to Korean presidents.

This appointment continues FTI Consulting's recent growth in business transformation and strategy offerings, following several senior appointments in EMEA and the United States.

A recent study sponsored by FTI Consulting reveals that organizations are least prepared for crises posing the greatest risk to their business. The survey, conducted by Economist Impact, canvassed 600 primary legal decision makers across North America, EMEA, and Asia Pacific. Key findings include:

- Nearly 30% of surveyed GCs cited reputational or operational crisis events among the top three risks and least prepared crises.
- Over two-thirds of organizations don't incorporate past crisis lessons into trainings and drills.
- About 60% of GCs reported increased involvement in crisis management strategy.
- Close to 70% of organizations lack a cross-functional crisis response team or pre-selected external advisors.
- More than half of surveyed organizations don't use AI or ML-powered modeling for crisis management.

The study highlights the need for better crisis preparedness and the evolving role of general counsel in navigating crises.

FTI Consulting has appointed Jens Paulus as a Senior Managing Director in the Forensic and Litigation Consulting segment. Based in Berlin, Paulus brings over 20 years of experience advising on risk, compliance, and geopolitical matters. He will help clients develop strategies to navigate global megatrends and disruptions while fostering resilience and growth.

Renato Fazzone, Leader of FTI Consulting in the DACH region, emphasized the importance of addressing geopolitical risks for international companies. Rory O'Brien, Head of EMEA Forensic and Litigation Consulting, highlighted Paulus' expertise as important in today's complex business environment.

Prior to joining FTI Consulting, Paulus was a Partner at PwC and held leadership roles at EY and the Konrad Adenauer Foundation. His appointment follows recent additions to FTI Consulting's German practice, including Stefan Van Thienen, Harald Hertel, and Dr. Stefan Heissner.

FTI Consulting's Technology segment has launched IQ.AI by FTI Technology™, a suite of artificial intelligence solutions for legal and regulatory matters. The offerings include:

1. IQ.AI for Investigations: Document summarization for quick fact extraction and case chronology development.
2. IQ.AI for Data Breach: Rapid identification of sensitive data for breach response and compliance.
3. IQ.AI for Antitrust: Monitoring and analytics to reduce risk in complex datasets.

FTI Technology's approach combines proprietary workflows with industry-leading AI technologies, aiming to balance innovation, performance, and risk mitigation. The launch addresses the growing demand for AI solutions in legal and compliance functions, with 78% of business leaders viewing generative AI as a competitive opportunity.

FTI Consulting (NYSE: FCN) has strengthened its Global Insurance Services practice with the appointment of Maria Filipakis as a Senior Managing Director in the Forensic and Litigation Consulting segment. Based in New York, Filipakis brings nearly two decades of government experience and expertise in insurance, cryptocurrency, cybersecurity, and financial services.

Filipakis, formerly the first Executive Deputy Superintendent of the Capital Markets Division at the New York State Department of Financial Services, will support clients with regulatory, compliance, claims challenges, risk management, due diligence, and financial analysis. Her appointment aims to help FTI Consulting's clients navigate emerging risks related to artificial intelligence, compliance, regulation, and litigation in the insurance industry.

Prior to joining FTI Consulting, Filipakis co-founded and served as Managing Partner at the Topside Group, working on strategic and regulatory matters across various financial sectors.

FTI Consulting (NYSE: FCN) has announced the upcoming release of its third quarter 2024 financial results. The company will disclose these results before the New York market opens on Thursday, October 24, 2024. Following the release, FTI Consulting will host a conference call at 9:00 a.m. Eastern Time on the same day, where senior management will discuss the financial outcomes.

Investors and interested parties can access the conference call via a live simulcast on the company's investor relations website. For those unable to attend the live event, a replay of the webcast will be available on the same website for 90 days following the call.

FTI Consulting, Inc. (NYSE: FCN) has announced the appointment of Brian Salsberg as Senior Managing Director and Global Head of M&A in the Transactions practice within the Corporate Finance & Restructuring segment. Salsberg, based in New York, joins from EY where he was the Global Buy & Integrate Leader. He brings extensive experience, having led over 100 acquisitions, mergers, joint ventures, and divestitures.

At FTI Consulting, Salsberg will collaborate with various team leaders to create comprehensive solutions for clients pursuing large-scale and cross-border transactions. His appointment follows the recent addition of Jeff Wray, former Global EY-Parthenon Leader, as leader of a new Consumer & Retail industry practice within FTI Delta.

Salsberg's prior experience includes senior executive roles at a Fortune 500 company, partnership at McKinsey & Company, and corporate transactions law at Cravath, Swaine & Moore LLP. His appointment aims to strengthen FTI Consulting's capabilities in serving a broader client base in complex transaction scenarios.