Andrew Vesey, 20-Year Industry Veteran, to Lead Initiative
ANNAPOLIS, Md., Jan. 31 /PRNewswire-FirstCall/ -- FTI Consulting
(NYSE: FCN), the premier national provider of strategic and litigation-related
consulting services, announced today that it has launched a Utility Regulatory
and Financial Practice within its Financial Consulting Division. Andrew M.
Vesey has been appointed managing director of the new practice that will focus
on strategic, tactical and financial issues concerning transmission,
distribution and sourcing of electric power.
With over 20 years of experience as a senior operating executive and
management consultant in the electric power industry, Vesey is highly
recognized by players in the field-including power companies, advisors,
regulators and organized labor-as one of the industry's leading strategic
thinkers. He is a co-author of the textbook that is generally considered to
be the seminal work in the field of the deregulation of electric power
transmission. Vesey, who will be based in Washington, D.C., joins FTI from
Cap Gemini Ernst & Young, where he was vice president of its energy and
utility practice. His clients included PG&E, Entergy and Detroit Edison.
Prior to joining Ernst & Young, Vesey enjoyed a 20-year career in the
electric power industry, serving most recently as chief executive at
CitiPower, a Melbourne, Australia, national electricity provider, after
serving as a vice president of Entergy Corporation and at the Global Energy
Group of Niagara Mohawk Power.
Speaking of this new initiative, FTI chairman and chief executive officer,
Jack Dunn, said, "Given our 18-year history of providing expert witness and
other consulting services to the electric utility industry, we have wanted to
introduce a complementary regulatory and financial consulting practice for a
long time. Lacking only the right leader to spearhead that practice, we now
have found that person in Andy. He will bring the same approach to this area
that has proven to be so unique and successful with our other practices aimed
at regulated industries, such as railroads and telecommunications. This fully
integrated approach combines the best in strategic thinking with hands-on
practical experience to assist in the very real issues of regulatory approval
and implementation."
Stewart Kahn, FTI's president and chief operating officer, commented,
"Certainly recent events have demonstrated that there are no greater
challenges facing our economy today than those regarding how we will address
the production, transmission, distribution and regulation of electric power in
the 21st century. Forming this practice underscores our commitment to
providing the best in advice and timely solutions to our clients in the areas
where they need them and when they need them. We welcome Andrew to our team
and look forward to the growth and success of this important new business."
About FTI Consulting
FTI Consulting is a multi-disciplined consulting firm with leading
practices in the areas of bankruptcy and financial restructuring, litigation
consulting and engineering/scientific investigation. Modern corporations, as
well as those who advise and invest in them, face growing challenges on every
front. From a proliferation of "bet-the-company" litigation to increasingly
complicated relationships with lenders and investors in an ever-changing
global economy, U.S. companies are turning more and more to outside experts
and consultants to meet these complex issues. FTI is dedicated to helping
corporations, their advisors, lawyers, lenders and investors meet these
challenges by providing a broad array of the highest quality professional
practices from a single source.
This press release includes "forward-looking" statements that involve
uncertainties and risks. There can be no assurance that actual results will
not differ from the company's expectations. The company has experienced
fluctuating revenues, operating income and cash flow in some prior periods and
expects that this may occur from time to time in the future. As a result of
these possible fluctuations, the company's actual results may differ from our
projections. Other factors that could cause differences include pace and
timing of additional acquisitions, the company's ability to realize cost
savings and efficiencies, competitive and general economic conditions, and
other risks described in the Company's filings with the Securities and
Exchange Commission.
FTI is on the Internet at http://www.fticonsulting.com and at
http://www.ftiwarroom.net .
SOURCE FTI Consulting
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Related links:
http://www.fticonsulting.com
http://www.ftiwarroom.net
CONTACT:
Jack Dunn, Chairman & CEO of FTI Consulting,
+1-410-224-1483, or General Inquiries, Marilyn Windsor,
+1-702-515-1260, Analysts Inquiries, Lisa Fortuna,
+1-312-640-6779, or Media Inquiries, Tim Grace, +1-312-640-6667,
all of FRB Weber Shandwick
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