FTI Consulting Expands Global Insurance Services with Key Appointment
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 underscores the firm’s commitment to addressing the evolving challenges faced by clients in the financial services sector.
Maria Filipakis: A Leader in Financial Services
Based in New York, Maria Filipakis brings nearly two decades of extensive experience across various sectors, including insurance, cryptocurrency, cybersecurity, and financial services. Her impressive background includes roles as a litigator, enforcement lawyer, and chief of a state securities bureau, as well as serving as a banking and insurance regulator. Notably, she was the first Executive Deputy Superintendent of the Capital Markets Division at the New York State Department of Financial Services, where she pioneered groundbreaking regulations for cybersecurity and digital currencies.
Her multifaceted expertise positions her uniquely to support clients navigating the complex landscape of regulatory compliance, risk management, and financial analysis. Filipakis is set to leverage her diverse background to address a wide array of compliance and regulatory challenges, ensuring that FTI Consulting remains at the forefront of industry developments.
Addressing Emerging Risks in the Insurance Sector
The insurance industry has undergone a transformative shift in recent years, grappling with emerging risks related to artificial intelligence, compliance, regulation, and litigation. Wendy Shapss, 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 related to artificial intelligence, compliance, regulation, and litigation.”
Shapss highlighted that FTI Consulting’s professionals combine industry expertise with technical acumen to guide clients through these challenges. The addition of Filipakis is a testament to the firm’s ongoing commitment to providing the necessary tools for clients to navigate this evolving risk landscape.
A Vision for Innovative Solutions
Prior to joining FTI Consulting, Filipakis co-founded and served as a Managing Partner at the Topside Group, where she collaborated with companies and government agencies on strategic and regulatory matters related to securities, insurance, banking, cybersecurity, and digital currencies. Her experience in both the public and private sectors equips her with a comprehensive understanding of the challenges and opportunities that businesses face today.
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 Capabilities
William Perlstein, Global Segment Leader of the Forensic and Litigation Consulting segment and Vice Chair of Client Services at FTI Consulting, noted the critical need for businesses to reassess their approach to risk management in light of a challenging regulatory landscape and advancements in artificial intelligence. He remarked, “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.”
This appointment not only strengthens FTI Consulting’s capabilities but also reflects the firm’s proactive approach to addressing the complexities of modern business environments.
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 work closely with clients to anticipate, illuminate, and overcome complex business challenges while seizing opportunities for growth. The firm generated $3.49 billion in revenues during the fiscal year 2023.
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. With her extensive experience and deep industry knowledge, Filipakis is poised to make significant contributions to the firm’s efforts in helping clients navigate the complexities of the financial services landscape. As the industry continues to evolve, FTI Consulting remains committed to delivering innovative solutions that address the pressing challenges faced by its clients.