FTI Consulting is a global business advisory firm that provides multidisciplinary solutions to complex challenges and opportunities. We invited Senior Managing Director Jeff Litvak to provide us with a unique insight into the firm and the services it provides.
Founded in 1982, FTI Consulting is an international consulting firm that specialises in enhancing its clients’ businesses, offering a wide range of solutions which are focused in a number of key service areas. These include Corporate Finance & Restructuring, Economic Consulting, Forensic & Litigation Consulting, Strategic Communications and Technology.
My specific expertise is in dispute advisory services, and through this I have worked on large commercial litigation matters. As a damage expert I have worked on cases where I was an independent accounting arbitrator in merger and acquisition cases, as well as an expert testifying on large cases in courts around the United States and in international arbitration cases.
I have experience as an expert witness in litigation cases for approximately 40 years and much of my work over this time has been in large M&A transactions, where I have been the expert witness for the buyer or the seller. Throughout my career I have also assisted the American Bar Association in the drafting of the economic aspect of the stock purchase agreement, taught courses in the issues of material adverse change and calculated damages related to whether the buyer obtained the benefit of its target. Through teaching these courses and writing agreements I am able to ensure that my experience and knowledge are available for new members of the industry.
Within my work in M&A disputes, I have been involved extensively over the years in large working capital disputes where there is a rise of working capital after the merger. I have slowly over this time built a strong reputation, ensuring favourable outcomes for my clients.
However, M&A is not the only aspect of legal disputes that I take on, as I am also a damage expert with a wide array of experience and expertise. In addition, I have also worked extensively to resolve large shareholder disputes.
Working within these wide ranging areas of expertise and across global markets, both the firm and myself experience a number of challenges. The majority of the larger transactions we assist with are abroad or in New York, whereas the deals we advise on within the remainder of the U.S. are usually smaller, where the company’s value is less than £100m. As a consultant this means that for larger transactions there is a greater need to travel abroad, which can be time consuming.
Many of the transactions that FTI Consulting is currently advising are in Asia, including China and Japan, which means that as a business we need to have staff with specific industry expertise in these locations in order to meet the clients’ needs. This has meant restructuring the firm to ensure that we have the relevant industry expertise internationally.
This is of vital importance, as we always need to ensure that our advice is fully relevant to our clients’ needs. As such, whenever we undertake a new engagement we seek out the most qualified industry professionals to assist the merger and acquisition, or use damage experts such as myself.
I believe that industry experience is a vital factor when supporting clients, therefore I never enter a case without ensuring that I have the specific relevant industry expertise. Without relevant industry experience I do not believe a consultant is able to bring value to the client through their advice because they do not have the required knowledge of the industry, the landscape or the region. One example is my recent work in Japan, where I encountered many differences within the business environment, as well as a language barrier. In order to work around these issues we use interpreters who can translate Japanese into English for meetings and presentation of documents and also work with our professionals in our offices in Japan to understand the culture, which gives us a better understanding of the matter we are working on. This process has enabled us to work effectively and provide the client with the best possible solution.
It is this collaborative approach, alongside our industry expertise and worldwide approach which separates FTI Consulting from our competitors. We have outstanding industry groups that we work with who provide us with expertise and information across a wide range of industries including healthcare, media and utilities. In addition to this industry expertise we have a large group of offices around the world which ensures we have a wide global reach and have access to a wide array of support and information. As a result our firm offers a unique combination of boutique culture and service quality with the resources of a larger company.
Company: FTI Consulting
Name: Jeff Litvak
Web Address: www.fticonsulting.com