LONDON, May 22 /PRNewswire/ -- FTI Consulting Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value, today announces the launch of its London-based European restructuring advisory business, which represents the latest strategic expansion of its Corporate Finance practice. The new UK-based restructuring business provides financial and operational solutions to a broad range of clients including senior and junior debt providers, shareholders and corporates.
The current team of 13 restructuring professionals have considerable experience and proven reputations in the market and are led by Senior Managing Directors, Kevin Hewitt, Paul Inglis and David Morris who were formerly Partners in Ernst & Young's restructuring team. The business has ambitious growth plans and commitment from FTI Consulting Inc to build a European restructuring practice with complementary transaction advisory capabilities.
Commenting on the launch, Senior Managing Director, Kevin Hewitt said, "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 which 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."
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."
Notes to Editors
About FTI Corporate Finance
FTI Corporate Finance is a leading advisory practice providing restructuring advice and solutions to its clients where value is at risk.
The business provides financial and operational solutions to a broad range of stakeholders including senior and junior debt providers, shareholders and corporates. Recently launched in London, the business currently consists of 13 restructuring professionals with considerable experience and a strong reputation in the UK market. The business has ambitious growth plans and a clear mandate and commitment from the FTI Group to build a European restructuring practice with complementary corporate finance capabilities.
The business is part of FTI Consulting Inc, a global business advisory firm listed on the New York Stock Exchange with revenues of circa US$1bn, a market capitalisation approaching US$1.5bn and over 2000 employees worldwide.
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 centres 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.
Biographies
Kevin Hewitt
Kevin joined FTI in April 2007 as a Senior Managing Director to lead the European Restructuring Practice and spearhead FTI's expansion strategy. Before joining FTI, Kevin spent 9 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 2 year secondment to HSBC's work out department in London.
Kevin is a Founder Member of the Society of Turnaround Professionals and actively promotes the rescue culture in his restructuring work.
Paul Inglis
Paul joined FTI as a Senior Managing Director in April 2007 along with his colleagues Kevin Hewitt and David Morris to extend FTI's restructuring footprint into the UK and Europe. He was previously a restructuring partner at Ernst & Young for 4 years before which he worked for 12 years in the restructuring team of Arthur Andersen moving across to Ernst & Young following the merger of their two restructuring teams.
Paul has 16 years restructuring experience across a range of public and private companies. 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's experience includes strategic, operational and financial assessments, crisis management & stabilisation, the assessment of management teams, financial restructuring and/or refinancing, multi-tiered stakeholder management and complex stakeholder options analysis.
Paul is a Chartered Accountant.
David Morris
David joined FTI as a Senior Managing Director in April 2007, along with his colleagues Kevin Hewitt and Paul Inglis. David was previously a Partner with Ernst & Young in the restructuring team where his role also incorporated responsibility for people leadership. Prior to Ernst & Young David trained with Arthur Andersen. In the last 5 years David has completed two separate nine month secondments to Barclays Capital and Barclays Business Bank.
David has 14 years experience specialising in complex Financial Restructuring, working for lenders, investors and executive management teams. David's experience includes operational and financial assessments, hands on crisis management and stabilisation, strategic change, managing lender groups, financial restructuring and supporting refinancings.
David is a Chartered Accountant.
Safe Harbor Statement
This press release includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act 1934 that involve uncertainties and risks including statements related our future financial results. There can be no assurance that actual results will not differ from the company's expectations. The Company has experienced fluctuating revenues, operating income and cash flow in some prior periods and expects this will occur from time to time in the future. As a result of these possible fluctuations, the Company's actual results may differ from our projections. Further, preliminary results are subject to normal year-end adjustments. Other factors that could cause such differences include the pace and timing of the consummation and integration of past and future acquisitions, the company's ability to realize cost savings and efficiencies, competitive and general economic conditions, 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. 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.
© 2007 PR Newswire
