Amid a period of growing demand for financial restructuring services, as companies grapple with the Covid-19-induced downturn, FTI Consulting has bolstered its Turnaround & Restructuring practice with two senior advisors.
Appointed a Senior Managing Director, based in Atlanta, Kevin Barrentine will help FTI Consulting advise its underperforming or distressed clients on restructuring, turnaround, performance improvement and crisis management. He works with (senior) management, financial sponsors and lenders in out-of-court restructurings and in formal bankruptcy proceedings across industries. He also has a track record in operational diligence and post-close transformation, primarily in the distressed M&A segment.
He brings more than 30 years of experience in the field to the role. Prior to joining FTI Consulting, Barrentine worked for at Conway MacKenzie, where he was a Senior Managing Director, and Deloitte, where he was a partner in the firm’s Restructuring practice. He also held roles in industry, serving as chief restructuring officer for leading industrial companies and as financial advisor to debtors and senior lenders.
“Kevin brings a mix of expertise that will help clients navigate restructurings and assist those that may be in stress and underperforming,” said Michael Eisenband, Global co-leader of FTI Consulting’s Corporate Finance & Restructuring segment.
Meanwhile, in Chicago, the global management consulting firm added Daniel Wikel to its ranks, appointed a Senior Managing Director. Another veteran in the consulting industry, Wikel previously was a founding member of Huron Consulting Group, where he served as a Managing Director in the Corporate Advisory Services practice and led the Chicago office for 18 years.
Before that, he was a member of Arthur Andersen’s Corporate Restructuring practice and in industry, he led the Financial Planning & Analysis group at Zenith Electronics. He also held various financial positions at Tenneco, after kickstarting his career at Big Four firm KPMG.
Wikel advises clients on corporate turnarounds and restructurings, lender workout situations, transaction advisory services and raising capital. He has significant experience managing middle-market and large bankruptcy cases and related matters, and his financial and operational expertise spans strategic planning, capital advisory or investment analysis and identifying revenue enhancements and cost improvements.
Eisenband on the high-profile addition: “Dan is a trusted financial advisor with extensive operational expertise. He will be a great asset to the team and joins us at a critical time, as we focus on helping clients navigate the uncertainty surrounding the ongoing pandemic and corresponding financial crisis.”
Both Barrentine and Wikel pointed at FTI’s “size, scale and scope of capabilities” in restructuring as the main driver for them joining the listed consultancy. “We are impressed by FTI Consulting’s deep industry expertise and breadth in the US and globally,” they said.
Last year, in Europe, FTI expanded its restructuring capabilities with the acquisition of Germany-based Andersch. Earlier this year the firm purchased Delta Partners, a strategic TMT consulting firm with seven offices globally.