FTI Consulting Bolsters Global Insurance Practice Firm's Global Insurance Practice Adds Specialized Industry Expertise and Proprietary Data Analytics Tools
LONDON, Nov. 4, 2013 /PRNewswire/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value, today announced the further expansion of its global Insurance practice through the addition of 41 professionals, including two senior managing directors and four managing directors, from affiliates of WD Scott Limited (collectively "Distinct"), providers of insurance management consulting services with offices in Dublin, London and New York. Terms of the transaction were not disclosed.
Founded in 2005, Distinct combines analytics-based principles and deep industry expertise to help clients increase profitability, reduce cost, generate growth and manage complex risk. Distinct's robust data driven approach to identifying and delivering organizational change and economic value through profit improvement and customer retention is supported by Distinct's proprietary data analytics tools, which are focused on customer patterns, risk profiles, income drivers and profit levers. The addition of Distinct will significantly expand the firm's global Insurance practice service offering, geographic footprint and industry expertise.
"Distinct's unique combination of experts and consultants offers a highly specialized capability to deploy valuable, results focused solutions and measurable business improvement," said Richard Hershman, Leader of the firm's global Insurance practice. "Distinct has established long-standing and deep relationships with market-leading diversified global insurance corporations, bank holding companies and multi-national telecom and aviation providers. We believe that adding Distinct's professionals and proprietary analytics tools to FTI Consulting's offering will provide an enhanced value proposition to our clients in regulated industries."
David Power, Chief Executive Officer of Distinct will be joining FTI Consulting as a Senior Managing Director. Commenting on the transaction, David Power said, "Joining FTI Consulting provides our clients and professionals with an established and broad global platform. We believe FTI Consulting is the ideal partner to further expand our delivery of services, analytical tools and expertise internationally. In particular, I am excited for the opportunity to expand our capabilities to FTI Consulting's established client base in the United States, the largest insurance market in the world. We fully expect Distinct's and FTI Consulting's client value proposition to benefit from the combined breadth of our capabilities, industry specialization and global relationships."
About FTI Consulting
FTI Consulting, Inc. 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 4,000 employees located in 24 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The company generated $1.58 billion in revenues during fiscal year 2012. For more information, visit www.fticonsulting.com.
Safe Harbor Statement
This press release includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve uncertainties and risks, including statements related our expectations regarding the acquired entities and businesses. There can be no assurance that the acquisition will perform as expected. Factors that could cause the Company expectations to differ, include the integration of the acquisition, the Company's ability to market the businesses and services acquired, the Company's ability to realize cost savings and efficiencies, competitive and general economic conditions, the retention of staff and clients, and other risks described under the heading "Item 1A. Risk Factors" in the Company's most recent Form 10-K and in the Company's other filings with the Securities and Exchange Commission, including, without limitation, risks related to operating in foreign jurisdictions. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.
SOURCE FTI Consulting, Inc.