FTI Consulting Expands Global Insurance Services with Key Appointment
FTI Consulting, Inc., a leading business advisory firm, has made a significant move to bolster its Global Insurance Services practice by appointing Maria Filipakis as a Senior Managing Director within its Forensic and Litigation Consulting segment. This strategic appointment is poised to enhance the firm’s capabilities in addressing the complex challenges faced by clients in the financial services sector.
A Wealth of Experience
Maria Filipakis, who will be based in New York, brings nearly two decades of extensive experience across various industries, including insurance, cryptocurrency, cybersecurity, and financial services. Her diverse background is marked by a robust career in government, where she has held pivotal roles as a litigator, enforcement attorney, and chief of a state securities bureau. Notably, she has also served as a regulator in both banking and insurance, providing her with a comprehensive understanding of the regulatory landscape.
Before joining FTI Consulting, Filipakis was the first Executive Deputy Superintendent of the Capital Markets Division at the New York State Department of Financial Services. In this role, she played a crucial part in shaping two groundbreaking regulations focused on cybersecurity and digital currencies, highlighting her expertise in navigating the intersection of technology and finance.
Navigating Regulatory Challenges
At FTI Consulting, Filipakis will leverage her extensive knowledge to assist clients in the financial services sector in navigating a myriad of regulatory, compliance, and claims-related issues. Her role will also encompass supporting risk management, due diligence, and financial analysis, ensuring that clients are well-equipped to tackle the evolving challenges of the industry.
Wendy Shapss, Senior Managing Director and Co-Leader of the Global Insurance Services practice at FTI Consulting, emphasized the importance of Filipakis’s appointment. “Our insurance industry clients have experienced a shift in the last few years with a number of emerging risks related to artificial intelligence, compliance, regulation, and litigation,” she noted. Shapss further highlighted that the firm’s professionals combine industry expertise with technical acumen to guide clients through these challenges, underscoring the value that Filipakis will bring to the team.
A Vision for the Future
Filipakis’s diverse background in insurance and cybersecurity positions her uniquely to address a broad range of regulatory and compliance challenges that clients face today. Her insights will be instrumental in helping businesses reassess their approach to risk management, especially as they navigate a challenging regulatory landscape and the rapid advancements in artificial intelligence.
In her own words, Filipakis expressed her enthusiasm for joining FTI Consulting, stating, “FTI Consulting is widely recognized as a first-rate player in financial services when it comes to supporting strategic and tactical challenges. I look forward to joining my colleagues as we develop innovative and practical solutions that maximize value for our clients.”
Enhancing Client Services
William Perlstein, Global Segment Leader of the firm’s Forensic and Litigation Consulting segment and Vice Chair of Client Services, echoed the sentiment regarding Filipakis’s appointment. He remarked, “Businesses are reassessing how they approach risk management as they navigate a challenging regulatory landscape and advancements in artificial intelligence. Maria’s diverse experience and depth of knowledge across a broad range of businesses in the financial services sector enhances our ability to help clients identify and reduce risk and improve performance.”
Conclusion
The appointment of Maria Filipakis as Senior Managing Director at FTI Consulting marks a significant step forward in the firm’s commitment to providing comprehensive support to clients in the financial services sector. With her extensive experience and expertise, Filipakis is set to play a pivotal role in helping clients navigate the complexities of regulatory compliance, risk management, and emerging technologies. As the landscape of financial services continues to evolve, FTI Consulting is well-positioned to lead the way in delivering innovative solutions that maximize value for its clients.