FTI Consulting expands energy sector with addition of two managing directors
Advisory firm FTI Consulting has appointed Seth Arnold and Peter McKenzie as managing directors, enhancing the firm’s depth of expertise in energy and utilities. Arnold joins the turnaround and restructuring practice in New York, while McKenzie joins the business transformation practice in Dallas.
FTI, best known for its turnaround and restructuring work, has continued its investment into restructuring and business transformation services for power and energy sector clients. In November, the firm added Jim Franks as a senior managing director in Dallas to deliver business process transformation services for energy companies.
The company will further bolster its capabilities with the addition of Seth Arnold and Peter McKenzie, who both bring decades of consulting and energy sector expertise. Arnold has more than 15 years of experience supporting distressed power generation assets, and in his new role at FTI he will provide restructuring advice to energy and utilities firms, as well as other industries. McKenzie, who has 25 years of industry and consulting experience in business development, IT transformation, and project management, will support energy sector clients with operations and corporate strategy.
“We are committed to investing in expertise in industries undergoing disruption,” Bert Conly, leader of the energy, power and products practice within the corporate finance and restructuring segment at FTI Consulting, said. “Our deep bench of talent in the energy industry is a distinct differentiator for our clients, providing insights and perspectives from professionals who have operated businesses and consulted extensively over many different business cycles.”
“The addition of Seth and Peter will help us continue to enhance outcomes for energy companies as we assist our clients in times of distress and also as they seek ways to transform their businesses to remain competitive in an increasingly challenging marketplace,” Conly added.
Arnold has extensive expertise across strategic planning, turnaround, and operational management. Aside from his work with energy clients, he has also supported firms in the construction, retail, aerospace, textile, transportation, and media industries.
Arnold was previously a director at management consultancy Conway McKenzie. Before that, he was a managing director at restructuring and turnaround advisory firm CDG Group (acquired by FTI in 2017). Before CDG, Arnold was a vice president in the corporate finance practice of EY.
“The power and energy sector is moving away from heavily capitalized fossil assets to renewables such as offshore wind, solar and others,” Arnold said. “As that world shifts, the capital that has been deployed in fossil assets will need to be addressed. I am excited to join the team at FTI Consulting, which brings a depth of industry expertise to assist clients in times of significant change and disruption.”
Peter McKenzie, meanwhile, brings deep expertise in the conception, planning, and execution of new business models, with a solid track record of improving business performance across the utilities and oil and gas sectors. He has a strong network of relationships in the energy sector, and has worked with many Fortune 500 companies.
McKenzie was previously vice president and energy industry leader at business process outsourcing firm Expert Global Solutions (now Alorica). Before that, he spent 14 years at IBM, where he was a senior business development executive in the utilities sector. McKenzie also held senior positions at Dell Services and EDS Corp.
“With ongoing challenges facing industry operators, from restructurings to cybersecurity threats and uncertainty in geopolitical environment to the need to improve business processes and operations to remain competitive and viable, FTI Consulting offers a truly diversified team that can help address these critical issues,” McKenzie said.
Related: FTI Consulting adds Rodolfo Araujo as senior managing director in Washington, DC
