Global consulting firm FTI Consulting has bought the Insurance industry practice of Distinct Consulting, a midsized consulting firm with offices in Dublin, London and New York. Approximately 40 advisors, including six partners, will transfer to FTI's American organisation.
FTI Consulting was founded in 1982 in the United States as 'Forensic Technologies International'. In 1996 the firm became stock listed and it became one of the first consulting organizations specializing in the field of forensic and litigation advisory work. Two years later the consulting firm changed its name to ‘FTI consulting’. In the past 15 years the consulting firm grew massively – currently FTI has some 4.000 employees in 24 countries.
Distinct Consulting was founded in 2005 and specializes in operations management consulting across a number of industries, mainly Insurance, Banking, Telecoms and Public Sectors. A few years ago it merged with WD Scott, which in the 1970's used to be the largest consulting firm in Australia, and set the ambition to grow into a serious player in the British market. As a result of the crisis it lagged its ambitions, and following internal turmoil its management team decided to split its Insurance business, which comes down to 40% of the business, from the rest of the firm. Distinct hired Equiteq, an M&A specialist in the consulting market, to find potential buyers and ultimately a match was found with FTI Consulting.
"FTI is the ideal partner to take the company forward and we are delighted that our professional consulting staff is joining FTI's global insurance practice. 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" said David Power, CEO van Distinct Consulting.