FTI Consulting, Inc. announced the expansion of its Energy, Power & Products industry practice with the appointment of Seth Arnold and Peter McKenzie as Managing Directors, enhancing the firm’s depth of expertise in the energy and utility industries.
Arnold, who will be based in New York, brings more than 15 years of experience focusing on distressed power generation assets and will provide both company and creditor restructuring advice in the power and energy and other industries. McKenzie, who will be based in Dallas, brings 25 years of experience as a senior executive and consulting leader focusing on all aspects of business development, with deep energy and utilities project management, shared services/IT transformation, operations improvement, and corporate strategy experience.
“We are committed to investing in expertise in industries undergoing disruption. 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,” said Bert Conly, Leader of the Energy, Power and Products practice within the Corporate Finance & Restructuring segment at FTI Consulting. “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.”
Arnold provides liquidity management, financial modeling, strategic planning, turnaround and operational management services to companies in the power and energy, engineering, construction, consumer goods, aerospace, transportation and media industries. For power and energy engagements, he has worked on merchant and contracted generation baseload and peaking assets that utilized fuels ranging from natural gas, coal, run of the river, pumped storage and geothermal. He previously was a Director at Conway MacKenzie.
Commenting on his appointment, Arnold said, “The power and energy sector is moving away from heavily capitalized fossil assets to renewables such as offshore wind, solar and others. 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.”
As a consultant and business development executive, McKenzie maintained relationships at the highest levels of the majority of energy and oil and gas companies and investor-owned utilities in the United States, along with many of the Fortune 500 across industry sectors. He brings expertise in conceiving, planning and executing new business models and finding ways to increase the returns from existing models.
Commenting on his appointment, McKenzie said, “The opportunity to work with the team in Dallas and globally across the FTI Consulting platform to enhance our brand and expertise in the energy and utilities sector was exciting. 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.”
The addition of Arnold and McKenzie continues FTI Consulting’s recent investments to provide clients in the power and energy sector with both restructuring and business transformation services. In November 2018, FTI Consulting added Jim Franks as a Senior Managing Director in Dallas to provide business process transformation services to global energy companies.