FTI Consulting Welcomes Former NYDFS Executive Maria Filipakis as Senior Managing Director
In a significant move that underscores its commitment to enhancing its Global Insurance Services practice, FTI Consulting, Inc. (NYSE: FCN) has announced the appointment of Maria Filipakis as Senior Managing Director within its Forensic and Litigation Consulting segment. This strategic addition comes at a time when the financial services landscape is rapidly evolving, marked by emerging risks and regulatory challenges.
A Wealth of Experience
Maria Filipakis brings nearly two decades of diverse experience to FTI Consulting, having held pivotal roles in both government and private sectors. Her extensive background includes serving as a litigator, enforcement lawyer, and chief of a state securities bureau. Notably, she was the first Executive Deputy Superintendent of the Capital Markets Division at the New York State Department of Financial Services (NYDFS), where she played a crucial role in shaping regulations for cybersecurity and digital currencies—two areas that are increasingly relevant in today’s financial ecosystem.
Filipakis’s expertise spans various industries, including insurance, cryptocurrency, cybersecurity, and broader financial services. Her unique blend of regulatory knowledge and practical experience positions her as a valuable asset to FTI Consulting’s clients, who face a myriad of compliance and risk management challenges.
Addressing Emerging Risks
The financial services industry is currently navigating a complex landscape characterized by rapid technological advancements and shifting regulatory frameworks. As noted by Wendy Shapss, Senior Managing Director and Co-Leader of the Global Insurance Services practice at FTI Consulting, clients are increasingly confronted with emerging risks related to artificial intelligence, compliance, regulation, and litigation. Filipakis’s appointment is a testament to FTI Consulting’s dedication to providing clients with the necessary tools and insights to navigate these challenges effectively.
In her new role, Filipakis will support clients in addressing regulatory compliance, claims challenges, risk management, due diligence, and financial analysis. Her extensive background as an insurance and cybersecurity practitioner will enable her to offer innovative solutions tailored to the unique needs of each client.
A Vision for the Future
Commenting on her new position, Filipakis expressed enthusiasm for joining FTI Consulting, a firm she regards as a leader in financial services. "I look forward to joining my colleagues as we develop innovative and practical solutions that maximize value for our clients," she stated. Her vision aligns with FTI Consulting’s mission to help organizations manage change, mitigate risk, and resolve disputes across various sectors.
William Perlstein, Global Segment Leader of the Forensic and Litigation Consulting segment, echoed this sentiment, highlighting the importance of reassessing risk management strategies in light of the evolving regulatory landscape and advancements in technology. Filipakis’s diverse experience will enhance FTI Consulting’s ability to assist clients in identifying and mitigating risks while improving overall performance.
FTI Consulting: A Leader in Business Advisory
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations navigate complex challenges. With over 8,000 employees across 33 countries, the firm specializes in managing change, mitigating risk, and resolving disputes in financial, legal, operational, political, regulatory, reputational, and transactional contexts. In fiscal year 2023, FTI Consulting generated $3.49 billion in revenues, reflecting its strong position in the advisory market.
As the firm continues to expand its capabilities, the addition of Maria Filipakis marks a significant step forward in enhancing its service offerings, particularly in the rapidly evolving insurance and financial services sectors. With her leadership, FTI Consulting is well-positioned to address the challenges and opportunities that lie ahead.
Conclusion
Maria Filipakis’s appointment as Senior Managing Director at FTI Consulting represents a strategic enhancement to the firm’s Global Insurance Services practice. Her extensive experience and deep expertise in regulatory compliance, risk management, and financial services will undoubtedly benefit clients navigating an increasingly complex landscape. As FTI Consulting continues to evolve and adapt to emerging risks, Filipakis’s contributions will play a crucial role in shaping the future of the firm and its clients.