FTI Consulting
Corporate brand
UnclaimedA global business advisory firm specializing in corporate finance, restructuring, economic analysis, litigation support, strategic communications, technology, and strategy consulting.
Last updated August 27, 2026
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Overview
FTI Consulting is a publicly traded business advisory firm headquartered in Washington, D.C. It serves corporations, law firms, financial institutions, private-equity investors, government bodies, and other organizations facing complex financial, legal, regulatory, operational, reputational, or strategic issues. The company operates through several broad practice areas, including Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Strategic Communications, and Technology and Strategy Consulting. The business began in 1982 as Forensic Technologies International. Engineers Joseph Reynolds and Daniel Luczak established the company to provide litigation-related expert witnesses and visual presentations that could help juries understand technically complicated evidence. This early emphasis on technical expertise, courtroom support, and demonstrative evidence provided the foundation for the firm's later expansion into forensic accounting, investigations, dispute advisory work, and electronic discovery. FTI became a public company in May 1996. In 1998, it adopted the FTI Consulting name, reflecting a broader service offering beyond its original forensic-technology focus. It began trading on the New York Stock Exchange under the symbol FCN in 1999. During the late 1990s and early 2000s, the company increasingly concentrated on advising distressed and troubled organizations, including clients involved in bankruptcy proceedings, creditor negotiations, turnarounds, and other forms of corporate restructuring. Acquisitions have been central to FTI's development. The purchase of PricewaterhouseCoopers' U.S. Business Recovery Services Division in 2002 significantly expanded its bankruptcy and restructuring capabilities. The acquisition of KPMG's Dispute Advisory Services and Compass Lexecon in 2003 strengthened dispute, competition-economics, and expert-advisory work. Later transactions added electronic-discovery technology, strategic communications, real-estate consulting, forensic accounting, Asian advisory capabilities, Australian restructuring operations, and European turnaround expertise. The firm has worked on high-profile matters including the Lehman Brothers and General Motors bankruptcies, the investigation of the Bernard Madoff fraud, the Bush v. Gore election litigation, Major League Baseball's steroid investigation, and the liquidation of Queensland Nickel. Its restructuring practice was described as the largest in the United States in 2020, and the company has also been recognized as a leading global adviser to distressed companies. FTI's client base includes major law firms, Fortune 100 companies, private-equity firms, bank holding companies, and public-sector agencies. As of December 31, 2023, the company stated that it served 98 of the world's 100 largest law firms, 83 Fortune 100 companies, 64 of the 100 leading private-equity firms in the Private Equity International 300 ranking, and 38 of the world's 50 largest bank holding companies. Its international scale includes more than 7,700 employees working across 31 countries, according to the cited reference material. The firm's public profile has also brought scrutiny. Reporting in 2020 alleged that FTI personnel helped create and operate organizations and websites funded by fossil-fuel companies while presenting them as grassroots initiatives. In 2023, FTI's Japanese business was criticized after it helped Johnny & Associates organize a press conference concerning sexual-abuse allegations involving the agency's late founder. FTI acknowledged preparing a list of journalists considered unsuitable to call on, as well as a preferred list, and said the arrangements had been confirmed with the client. These controversies illustrate the reputational and ethical risks associated with communications consulting, particularly when advisers work for clients facing intense public criticism.
History
FTI Consulting was founded in 1982 as Forensic Technologies International by engineers Joseph Reynolds and Daniel Luczak. Its initial business focused on supplying expert witnesses and visual demonstrations for litigation, particularly where technical evidence needed to be explained clearly to judges and juries. Daniel Luczak later served as chairman from 1992 to 1998. The company went public in May 1996, raising $11.1 million and becoming one of the early publicly traded firms dedicated to litigation support. In 1998, it changed its name to FTI Consulting as its activities broadened. The company began trading on the New York Stock Exchange under the ticker FCN in 1999. Its strategic emphasis increasingly moved toward advising financially troubled companies through bankruptcy, creditor negotiations, workouts, and operational restructuring. A major expansion occurred in 2002, when FTI acquired PricewaterhouseCoopers' U.S. Business Recovery Services Division. The transaction made FTI a much larger participant in bankruptcy, turnaround, and restructuring assignments. The firm also benefited from increased demand for independent forensic and litigation advisers after the Sarbanes-Oxley Act restricted auditors from providing certain consulting services to their audit clients. FTI stated that its Forensic and Litigation Consulting division added more than 1,000 employees during this period. In 2003, FTI bought KPMG's Dispute Advisory Services and acquired Compass Lexecon, a Chicago-based economics and litigation consultancy that continued operating under its own name. In 2005, FTI acquired Ringtail Solutions Group, adding software for electronic discovery and document management. The company later purchased Attenex Corporation in 2008 and combined Attenex Patterns with Ringtail Discovery Software to create a broader electronic-discovery platform. FTI expanded its communications practice through the 2006 acquisition of Financial Dynamics, a London-based communications consultancy that became associated with FTI's Strategic Communications division. The firm entered Latin America in 2007 and reported annual revenue above $1 billion that year. Further acquisitions in 2008 added the Schonbraun McCann Group's real-estate consulting expertise and a UK forensic-accounting practice. International development continued with the 2010 acquisition of Hong Kong-based FS Asia Advisory. In 2012, FTI established a financial-advisory presence in Australia through the acquisition of KordaMentha's Queensland operation. In January 2014, the company acquired London-based TLG Partners, while Steven H. Gunby was named president and chief executive officer. The firm acquired the New York CDG Group in 2017, strengthening restructuring, turnaround, value-enhancement, and transaction advisory work, and bought German advisory firm Andersch AG in 2019 to expand its European restructuring platform. FTI has been involved in numerous prominent engagements, including the Lehman Brothers and General Motors bankruptcies, the Bernard Madoff fraud investigation, the Bush v. Gore litigation, Major League Baseball's steroid investigation, and the liquidation of Queensland Nickel. In 2015, The Deal named FTI the world's leading restructuring adviser to distressed companies. The company's work has also extended to public agencies and to communications assignments for clients in politically sensitive industries. The firm's growth and public visibility have generated controversy. A 2020 New York Times investigation examined FTI's alleged role in supporting fossil-fuel-funded organizations designed to resemble grassroots groups. In 2023, the firm's Japanese operation faced criticism for its handling of a Johnny & Associates press conference concerning sexual-abuse allegations against the agency's deceased founder. FTI acknowledged that its team prepared both a restricted journalist list and a preferred list. These episodes have kept questions about transparency, client advocacy, and professional ethics central to discussion of the firm's communications work.
- 2019
Andersch AG acquisition
[1]The acquisition of German firm Andersch AG expands FTI's European restructuring and advisory presence.
- 2017
CDG Group acquisition
[1]FTI acquires CDG Group to strengthen restructuring, turnaround, value-enhancement, and transaction advisory capabilities.
- 2014
European thought-leadership and executive transition
[1]FTI acquires TLG Partners, and Steven H. Gunby is named president and chief executive officer.
- 2010
Expansion in Asia
[1]FTI acquires Hong Kong-based FS Asia Advisory Limited.
- 2007
Latin American expansion
[1]FTI expands into Latin America and reports annual revenue exceeding $1 billion.
- 2006
Financial Dynamics acquisition
[1]The acquisition of Financial Dynamics expands FTI's strategic-communications platform.
- 2005
Ringtail acquisition
[1]FTI acquires Ringtail Solutions Group, adding electronic-discovery and document-management technology.
- 2003
Dispute and economic consulting expansion
[1]The company acquires KPMG's Dispute Advisory Services and Compass Lexecon.
- 2002
Business Recovery Services acquisition
[1]FTI acquires PricewaterhouseCoopers' U.S. Business Recovery Services Division, materially expanding its restructuring and bankruptcy advisory business.
- 1999
NYSE trading begins under FCN
[1]FTI Consulting begins trading on the New York Stock Exchange under the ticker FCN.
Products and positioning
An independent, multidisciplinary adviser for complex corporate finance, restructuring, disputes, investigations, communications, and strategic matters.
Advisory service
Corporate Finance & Restructuring
FTI advises companies, creditors, investors, and other stakeholders dealing with financial distress, bankruptcy, liquidity pressure, or major transactions. Work can include turnaround planning, restructuring, creditor negotiations, insolvency assignments, operational improvement, valuation, and transaction support. This practice became a defining part of FTI's identity after the 2002 acquisition of PricewaterhouseCoopers' U.S. Business Recovery Services Division.
Advisory service · 1982
Forensic and Litigation Consulting
This practice supports litigation, investigations, regulatory matters, and disputes through forensic accounting, expert analysis, investigative services, damages assessment, and evidence management. It reflects the company's original litigation-support heritage and has been used in matters involving corporate fraud, public controversies, election litigation, sports investigations, and major insolvencies.
Advisory service · 2003
Economic Consulting
FTI's economic advisory work includes competition economics, market analysis, valuation, damages, public policy, and expert testimony. Compass Lexecon operates as a major component of this offering and serves clients involved in litigation, antitrust matters, regulation, and strategic business questions.
Advisory service · 2006
Strategic Communications
The Strategic Communications division advises organizations on reputation, public affairs, investor communications, crisis response, transactions, litigation communications, and other high-stakes stakeholder issues. It grew substantially through the acquisition of Financial Dynamics in 2006 and has handled work for companies and industries facing political, regulatory, or reputational pressure.
Legal technology · 2005
Ringtail Discovery Software
Ringtail is an electronic-discovery and document-management software suite used to organize, review, and manage information in litigation and investigations. FTI acquired Ringtail Solutions Group in 2005 and later combined Ringtail technology with Attenex Patterns following the Attenex acquisition.
Advisory service
Technology and Strategy Consulting
FTI's technology and strategy work addresses digital information, operating-model change, business transformation, transactions, performance improvement, and complex strategic decisions. The practice complements the firm's financial, legal, economic, and communications services.
Controversies
2023
Journalist blacklist controversy in Johnny & Associates press conference
FTI Consulting's Japanese operation helped organize a press conference concerning sexual-abuse allegations involving Johnny Kitagawa, the late founder of Johnny & Associates. The company acknowledged preparing a list of journalists who should not be called on and another list of journalists who should preferably receive a question opportunity. The disclosure prompted criticism over press access and event transparency.
2020
Alleged grassroots fossil-fuel advocacy operations
The New York Times reported that FTI Consulting had helped create, staff, and operate organizations and websites financed by energy companies that were presented as grassroots supporters of fossil-fuel initiatives. The reporting raised concerns about disclosure, astroturfing, and the use of communications expertise to obscure the interests behind advocacy campaigns.
Brand decisions
2019
Acquisition of Andersch AGM&ABackground
FTI aimed to expand its European restructuring and advisory presence.
Action taken
FTI acquired German restructuring and advisory firm Andersch AG.
Aftermath
The transaction strengthened FTI's German and wider European restructuring platform.
2017
Acquisition of CDG GroupM&ABackground
FTI sought to deepen its restructuring, turnaround, and transaction-advisory capabilities.
Action taken
The company acquired New York-based CDG Group.
Aftermath
The deal added restructuring advisory, turnaround management, value enhancement, and transaction expertise.
2014
Steven H. Gunby becomes president and chief executive officerOtherBackground
FTI continued developing its international advisory platform and leadership structure.
Action taken
Steven H. Gunby was named president and chief executive officer.
2006
Acquisition of Financial DynamicsM&ABackground
FTI sought to establish a stronger international strategic-communications practice.
Action taken
FTI acquired London-based communications consultancy Financial Dynamics.
Aftermath
Financial Dynamics became associated with FTI's Strategic Communications division and expanded the firm's reputation and public-affairs capabilities.
2005
Entry into electronic discovery through RingtailM&ABackground
Litigation and investigations increasingly required software for large-scale document review and information management.
Action taken
FTI acquired Ringtail Solutions Group.
Aftermath
The acquisition added Ringtail Discovery Software and strengthened the firm's legal-technology offering.
2003
Expansion into dispute advisory and economic consultingM&ABackground
FTI wanted to broaden its litigation and expert-advisory platform.
Action taken
The company acquired KPMG's Dispute Advisory Services and Compass Lexecon.
Aftermath
FTI gained additional dispute expertise and a major economics consultancy that continued under the Compass Lexecon name.
2002
Acquisition of PwC's U.S. Business Recovery Services DivisionM&ABackground
FTI sought to build scale in bankruptcy, turnaround, and corporate restructuring advisory.
Action taken
FTI purchased the U.S. Business Recovery Services Division of PricewaterhouseCoopers for $250 million.
Aftermath
The transaction made FTI a significantly larger restructuring adviser and reinforced its focus on financially troubled companies.
Acquisition price. $250 million (2002)
1998
Rebrand from Forensic Technologies International to FTI ConsultingStrategyBackground
The company's work had expanded beyond its original litigation-technology and expert-witness activities.
Action taken
The company adopted the FTI Consulting name and developed a broader multidisciplinary advisory identity.
Aftermath
The new identity supported expansion into restructuring, economic consulting, communications, technology, and strategy services.
Recent events
Reported
FTI Consulting appoints Daniel Heywood as senior managing director in Brisbane[4]
FTI Consulting announced Daniel Heywood’s appointment as a Senior Managing Director in its Forensic and Litigation Consulting segment in Brisbane, Australia.
Reported
FTI Consulting reports record third-quarter 2021 results[5]
FTI Consulting reported third-quarter 2021 revenue of $702.2 million, up 13% from the prior-year quarter, and EPS of $1.96, up 45%.
Reported
FTI Consulting raises 2021 guidance[5]
FTI Consulting raised the lower end of its 2021 revenue guidance range and raised its full-year EPS and adjusted EPS guidance ranges.
Sources5 sources
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