FTI Consulting Expands Global Insurance Services with Key Appointment of Maria Filipakis
Washington, D.C. – October 7, 2024 – In a significant move to bolster its Global Insurance Services practice, FTI Consulting, Inc. (NYSE: FCN) has announced the appointment of Maria Filipakis as a Senior Managing Director within its Forensic and Litigation Consulting segment. This strategic addition reflects FTI Consulting’s commitment to addressing the evolving challenges faced by clients in the financial services sector, particularly in the realms of insurance, cryptocurrency, and cybersecurity.
A Wealth of Experience
Maria Filipakis brings nearly two decades of extensive experience across various sectors, including government, financial services, and regulatory compliance. Based in New York, her career has been marked by a series of influential roles, including serving as a litigator and enforcement lawyer, as well as holding the position of 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, where she spearheaded groundbreaking regulations for cybersecurity and digital currencies—two areas that have become increasingly critical in today’s digital economy.
Addressing Emerging Risks
The appointment of Ms. Filipakis comes at a time when the insurance industry is grappling with a myriad of emerging risks, particularly those related to artificial intelligence, compliance, regulation, and litigation. Wendy Shapss, a Senior Managing Director and Co-Leader of the Global Insurance Services practice at FTI Consulting, emphasized the importance of this appointment, stating, “Our insurance industry clients have experienced a shift in the last few years with a number of emerging risks. The appointment of Maria highlights our ongoing commitment to provide the necessary tools to navigate this evolving risk landscape.”
In her new role, Filipakis will leverage her diverse background to assist clients in navigating complex regulatory and compliance challenges, as well as addressing claims, risk management, and financial analysis. Her expertise will be invaluable in helping organizations adapt to the fast-paced changes in the financial services sector.
A Vision for Innovation
Prior to joining FTI Consulting, Filipakis co-founded and served as a Managing Partner at the Topside Group, where she worked closely with both companies and government agencies on strategic and regulatory matters. Her experience in this capacity has equipped her with a unique perspective on the intersection of business and regulation, allowing her to develop innovative solutions tailored to the specific needs of her clients.
Commenting on her new role, 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 Risk Management Strategies
William Perlstein, Global Segment Leader of the Forensic and Litigation Consulting segment and Vice Chair of Client Services at FTI Consulting, added, “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.”
As organizations continue to face unprecedented challenges, the integration of Filipakis into the FTI Consulting team underscores the firm’s dedication to providing clients with the expertise and resources necessary to thrive in a complex and ever-changing environment.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk, and resolve disputes across various domains, including financial, legal, operational, political, regulatory, reputational, and transactional challenges. With over 8,000 employees in 33 countries and territories, FTI Consulting professionals collaborate closely with clients to anticipate, illuminate, and overcome complex business challenges while capitalizing on opportunities. The firm generated $3.49 billion in revenues during the fiscal year 2023, solidifying its position as a leader in the advisory space.
For more information about FTI Consulting and its services, visit www.fticonsulting.com.
Conclusion
The appointment of Maria Filipakis as Senior Managing Director at FTI Consulting marks a pivotal moment for the firm’s Global Insurance Services practice. Her extensive experience and deep understanding of the financial services landscape will undoubtedly enhance FTI Consulting’s ability to support clients in navigating the complexities of regulatory compliance and risk management. As the industry continues to evolve, FTI Consulting remains committed to providing innovative solutions that empower organizations to succeed in an increasingly challenging environment.