FTI Consulting

FTI Consulting, a global advisory firm specializing in restructuring, forensic consulting, and economic analysis, generated revenues of $3.49 billion in FY2023 across five business segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications. While the company had historically been known primarily for restructuring advisory — a counter-cyclical business that thrives during economic downturns — FTI had been investing to build non-restructuring capabilities that could grow regardless of the credit cycle. The challenge was sustaining growth across all five segments simultaneously rather than relying on any single segment to carry the company. With approximately 8,300 employees and a reputation built on restructuring expertise, FTI needed to demonstrate that its diversified consulting platform could generate consistent cross-segment growth.

Through FY2023-FY2024, FTI executed a cross-segment expansion strategy focused on growing every business line simultaneously. Key actions included:

• Forensic and Litigation Consulting expansion: Grew the segment 6.3% in Q4 2024 (to $175.9 million quarterly revenue), investing in data analytics, cybersecurity investigation, and regulatory compliance capabilities that extend beyond traditional forensic accounting.
• Technology segment buildout: Expanded the Technology segment's e-discovery, data analytics, and managed review capabilities, positioning FTI to capture growing demand from corporate legal departments seeking alternatives to traditional law firm staffing.
• Strategic Communications growth: Invested in crisis communications, public affairs, and financial communications advisory, creating a pull-through effect where restructuring or litigation engagements generate follow-on communications work.
• Economic Consulting expansion: Grew the Economic Consulting segment by adding experts in antitrust, intellectual property valuation, and regulatory economics — high-hourly-rate practices that improve revenue per professional.
• Workforce optimization: In Q4 2024, announced a restructuring charge of $8.2 million related to a 4% workforce reduction (approximately 330 of 8,300 employees), with expected cost savings of $70 million in 2025. This signaled disciplined capacity management as the restructuring cycle moderated.