FTI Consulting Launches European Restructuring Business in London
Baltimore, MD - May 22, 2007
FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced the launch of its London-based European restructuring advisory practice with the recent hiring of 11 leading restructuring professionals with significant experience and proven reputations in the European marketplace. The practice provides financial and operational solutions to a broad range of stakeholders, including senior and junior debt providers, shareholders and corporations, and is part of FTI Consulting's industry-leading restructuring practice in the U.S.
The London team is led by Senior Managing Directors Kevin Hewitt, Paul Inglis and David Morris, who were formerly partners within Ernst & Young's restructuring practice. The introduction of this practice marks a key step in the Company's plans to build a European restructuring practice with complementary transaction advisory capabilities.
Commenting on the launch, Dominic DiNapoli, Executive Vice President and Chief Operating Officer of FTI Consulting said, “We are excited to have Kevin, Paul, David and the wider team on board. They are local market leaders with excellent reputations and the experience and relationships necessary to generate new opportunities for growth going forward. The FTI European restructuring practice promises the market a credible new alternative with greater flexibility and fewer conflicts than its major competitors.”
Mr. DiNapoli added, “With the FD acquisition, FTI extended its presence into many of the key business and financial centers in Europe. Our London-based restructuring practice takes this one step further by broadening the range of solutions that we are able to bring to clients. Europe is an important area of growth for us and we believe that we have the right team in place at the right time to capitalize on this potential.”
Kevin Hewitt, Senior Managing Director of the European restructuring practice, stated, “I am delighted to be launching with a team of 13 senior restructuring professionals who are already taking on assignments. We have adopted a flexible business model allowing us to bring the most appropriate team and resources to an assignment to drive the implementation of restructuring solutions. The strength of our team will be enhanced by the deep talent pool of FTI professionals as well as key strategic alliances that will allow us to immediately draw on industry expertise and the capabilities of other transaction advisory professionals.”
He added, “We will be hiring new talent into our business and looking at potential acquisitions to accelerate our European growth strategy. My sense is that the key restructuring talent in the market is giving serious consideration, now, as to where they want to be positioned when the current credit cycle comes to an end. Our launch is therefore very timely in offering a real differentiated choice in the market.”
Before joining FTI, Kevin Hewitt, age 42, spent nine years as a restructuring partner at Ernst & Young, where he was responsible for a team of 25 restructuring professionals who provided high quality advice to bank creditors, private equity and executive management teams in complex financial restructuring and refinancing assignments.
Prior to being admitted to the Ernst & Young partnership, Kevin spent 10 years undertaking a variety of restructuring and insolvency assignments, including a two-year secondment to HSBC's work out department in London.
Kevin is a Founding Member of the Society of Turnaround Professionals and actively promotes the rescue culture in his restructuring work.
Paul Inglis, age 36, brings 16 years of restructuring experience across a range of public and private companies with broad experience that includes strategic, operational and financial assessments, crisis management & stabilization, the assessment of management teams, financial restructuring and refinancing, multitiered stakeholder management and complex stakeholder options analysis. Prior to joining FTI, he was a restructuring partner at Ernst & Young for four years, before which he worked for 12 years in the restructuring practice of Arthur Andersen, moving to Ernst & Young following the merger of the firms' restructuring group.
Typically advising creditors or investors, Paul has been involved in a number of highly complex financial restructuring assignments across a broad range of sectors and geographies. Paul is a Chartered Accountant.
David Morris, age 32, has 14 years experience specializing in complex financial restructuring, working for lenders, investors and executive management teams. David was previously a partner with Ernst & Young in the firm's restructuring practice. Prior to Ernst & Young, David trained with Arthur Andersen. In the last five years, David has completed two separate nine-month secondments to Barclays Capital and Barclays Business Bank.
David's experience includes operational and financial assessments, hands on crisis management and stabilization, strategic change, managing lender groups, financial restructuring and supporting refinancings. He is a Chartered Accountant.
About FTI Consulting
FTI Consulting is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 2000 professionals located in most major business centers in the world, we work closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring. More information can be found at www.fticonsulting.com.
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