FTI Consulting Bundle
Who Owns FTI Consulting?
Understanding FTI Consulting's ownership is key to grasping its market influence and strategic direction. The company transitioned to public ownership through its IPO in May 1996, raising $11.1 million and setting an initial share price of $8.50.
This move made FTI Consulting a pioneer as one of the first litigation support firms to trade publicly, significantly reshaping its ownership structure and paving the way for future growth and investment.
FTI Consulting, initially founded as Forensic Technologies International in 1982, has evolved into a global business advisory leader. As of December 31, 2024, the firm boasted over 8,300 employees across 34 countries, with fiscal year 2024 revenues reaching $3.70 billion. Its market capitalization was approximately $5.38 billion USD in August 2025, positioning it as the 2851st most valuable company globally by market cap. This evolution highlights a journey from its founders' vision to a publicly traded entity influenced by a broad base of shareholders, with its strategic positioning often analyzed through frameworks like the FTI Consulting BCG Matrix.
Who Founded FTI Consulting?
FTI Consulting began its journey in 1982 as Forensic Technologies International, established by engineers Joseph Reynolds and Daniel Luczak. Their initial focus was on providing expert witnesses for legal cases and creating visual aids to explain complex technical matters to juries. Joseph J. Reynolds Jr. was particularly influential in shaping the firm's early direction, emphasizing forensic accounting and expert testimony, which built its reputation in forensic and litigation consulting.
Founding Engineers
FTI Consulting was founded in 1982 by engineers Joseph Reynolds and Daniel Luczak. Their initial vision centered on expert witness services and simplifying complex technical issues for legal proceedings.
Early Focus
The company's early operations concentrated on forensic accounting and providing expert testimony. This specialization laid the foundation for its future growth in litigation support.
Leadership Transition
In 1992, a senior management buyout occurred, leading to a shift in ownership. Jack Dunn became President and CEO, initiating a period of expansion and acquisitions.
Going Public
The company transitioned to a publicly traded entity in May 1996. This move involved an Initial Public Offering (IPO) that raised $11.1 million, with shares debuting at $8.50 on NASDAQ.
Ownership Evolution
The IPO marked a significant change in FTI Consulting's ownership structure. It evolved from a privately held company to one with a broader base of public shareholders.
Market Debut
FTI Consulting became one of the first companies in the litigation support sector to be publicly traded. This public offering provided capital for further growth and development.
While the precise initial equity distribution among the founders, Joseph Reynolds and Daniel Luczak, is not publicly documented, the firm's early ownership underwent a notable transformation. Following a senior management buyout in 1992, where outside investors exited, Jack Dunn assumed leadership as President and CEO. This transition paved the way for strategic acquisitions and expansion. The company's public debut in May 1996, with an IPO that raised $11.1 million and saw shares listed on NASDAQ at $8.50, fundamentally altered its ownership landscape. This move democratized FTI Consulting ownership, shifting it from a more concentrated private model to one accessible to a wider range of FTI Consulting shareholders, making it a publicly traded entity and a significant player in the litigation support industry, a sector that has seen considerable evolution as detailed in the Competitors Landscape of FTI Consulting.
Key Milestones in Early Ownership
The early years of FTI Consulting were characterized by foundational expertise and strategic ownership shifts. The company's transition to public ownership was a pivotal moment.
- Founding by Joseph Reynolds and Daniel Luczak in 1982.
- Initial focus on forensic accounting and expert testimony.
- Senior management buyout in 1992, with Jack Dunn taking leadership.
- Public offering in May 1996, raising $11.1 million.
- Debut on NASDAQ at $8.50 per share.
- Shift from private to public ownership structure.
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How Has FTI Consulting’s Ownership Changed Over Time?
FTI Consulting's ownership journey began with its IPO in May 1996, raising $11.1 million. Since then, the company has experienced significant market capitalization growth, reflecting its expanding operations and strategic initiatives. Key events like stock offerings and acquisitions have shaped its shareholder landscape over the years.
| Event | Date | Impact |
|---|---|---|
| Initial Public Offering | May 1996 | Raised $11.1 million; shares debuted at $8.50. |
| NYSE Trading Commencement | 1999 | Began trading as FCN on the New York Stock Exchange. |
| Common Stock Offering | February 2003 | Priced 2,311,565 shares at $40.00, raising $86.4 million (net); used for debt repayment. |
| Public Offering | September 2007 | Closed offering of 4,830,000 shares at $50.00, generating $231.84 million (net) for general corporate purposes and acquisitions. |
| Acquisition of TLG Partners | January 2014 | London-based acquisition impacting corporate structure. |
| Acquisition of CDG Group | 2017 | Acquisition influencing shareholder base. |
| Acquisition of Andersch AG | 2019 | Further acquisition impacting corporate structure and ownership. |
As a publicly traded entity, FTI Consulting's ownership is primarily held by institutional investors, including mutual funds and index funds, alongside individual insiders. While precise holdings of major institutions are not always publicly detailed, regulatory filings such as the 2024 Form 10-K and the 2025 Proxy Statement offer comprehensive breakdowns of beneficial ownership. The aggregate market value of non-affiliate holdings was reported at $5.0 billion as of June 30, 2023, with 35,533,336 shares of common stock outstanding as of February 15, 2024. Understanding these FTI Consulting ownership details is crucial for grasping the company's financial landscape and its Growth Strategy of FTI Consulting.
Key FTI Consulting Ownership Insights
FTI Consulting's market capitalization has seen substantial growth since its inception. The company's ownership structure is diverse, reflecting its status as a public entity.
- FTI Consulting stock is traded on the New York Stock Exchange under the ticker symbol FCN.
- Institutional investors represent a significant portion of FTI Consulting shareholders.
- Public stock offerings have been utilized to fund growth and strategic acquisitions.
- SEC filings are the primary source for detailed FTI Consulting company ownership details.
- The FTI Consulting executive team and board of directors also hold ownership stakes.
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Who Sits on FTI Consulting’s Board?
The FTI Consulting board of directors is composed of 10 members, guiding the company's strategic path. Gerard E. Holthaus serves as the Non-Executive Chairman, while Steven H. Gunby is both President and CEO. The board members bring a wealth of experience from diverse sectors including consulting, law, and finance.
| Board Member | Position |
|---|---|
| Gerard E. Holthaus | Non-Executive Chairman |
| Steven H. Gunby | President, Chief Executive Officer, Director |
| Brenda J. Bacon | Director |
| Mark S. Bartlett | Director |
| Elsy Boglioli | Director |
| Claudio Costamagna | Director |
| Nicholas C. Fanandakis | Director |
| Stephen C. Robinson | Director |
| Laureen E. Seeger | Director |
FTI Consulting operates under a 'one share, one vote' principle, a cornerstone of robust corporate governance that aligns shareholder economic interests with their voting power. The company has confirmed it does not issue shares with enhanced voting rights. Directors are elected annually by a majority vote in uncontested elections, supported by a director resignation policy. Notably, 87.5% of the board comprises independent directors, and the presence of an independent non-employee Chairman further underscores a commitment to independent oversight. This structure is designed to foster positive investor relations and enhance shareholder support.
Understanding FTI Consulting's Governance
FTI Consulting's corporate governance emphasizes transparency and shareholder alignment. The company's structure reflects a commitment to best practices in board independence and voting rights.
- One share, one vote principle maintained.
- No enhanced voting right shares issued.
- Directors elected by majority vote.
- Strong emphasis on independent directors, with 87.5% of the board being independent.
- Independent non-employee Chairman of the Board.
- Commitment to positive investor relations.
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What Recent Changes Have Shaped FTI Consulting’s Ownership Landscape?
In recent years, FTI Consulting has demonstrated robust financial growth and strategic adjustments to its ownership profile. The company reported record revenues of $3.699 billion in fiscal year 2024, marking a 6.0% increase from the previous year, with all five business segments contributing to this expansion. This performance underscores a period of sustained development and market presence.
| Metric | 2024 Value | 2023 Value |
|---|---|---|
| Revenue | $3.699 billion | $3.489 billion |
| Diluted EPS | $7.81 | N/A |
| Adjusted EPS | $7.99 | N/A |
FTI Consulting has actively managed its shareholder base through share repurchases, returning $516.3 million to shareholders since 2020. As of December 31, 2024, the company repurchased 51,717 shares for $10.2 million, with $450.4 million remaining under its authorization. Recent insider activity shows sales of FCN stock by Chief Financial Officer Ajay Sabherwal and General Counsel Curtis P. Lu. Institutional investors show mixed activity, with 208 adding shares and 250 decreasing positions in the last quarter.
Shareholder Activity
FTI Consulting has returned $516.3 million to shareholders via buybacks since 2020. Institutional investors exhibit varied portfolio adjustments.
Strategic Growth Initiatives
The company completed two acquisitions in 2024, including Madison Consulting Group, to expand its service offerings and global reach.
Corporate Governance Focus
FTI Consulting maintains a 'one share, one vote' policy. This aims to manage potential conflicts with activist investors effectively.
Future Outlook and Guidance
The company anticipates 2025 EPS between $7.44 and $8.24. This guidance reflects ongoing strategic priorities and market conditions, aligning with broader industry trends such as the focus on AI strategies. Understanding the Target Market of FTI Consulting provides context for these developments.
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