FTI Consulting absorbs Econex to its South African Economics Consulting practice

Global business advisory firm FTI Consulting has made yet another move to expand its operations in South Africa, this time through the acquisition of economics consultancy Econex. The eight-member Econex team will work in the firm’s Economic & FInancial Consulting vertical. 

Forensics, litigation and economic advisory are some of FTI Consulting’s areas of specialisation, all of which are essential services in the current South African environment. Not only is the country grappling with slow economic growth, but domestic economic crime has also hit an unprecedented high.

As a result, FTI has been rapidly expanding its operations in recent years. The firm first launched in South Africa with its Strategic Communications vertical in 2005, and later added its Economic & Finance Consulting division in 2015. In 2017, FTI launched its Forensic & Litigation Consulting practice in South Africa.

Since then, the firm has made a number of additions to its personnel in the Forensics & Litigation practice starting with Kevin West as a Senior Managing Director in late 2017 and three additional Senior Managing Directors last year. The latest additions now come to its Economics & Financial Consulting vertical.

Eight professionals have now joined following the absorption of competitions and applied economics advisory firm Econex, including Nicola Theron, who was formerly Manging Director at Econex and will now serve as Senior Managing Director at FTI. Econex was founded in 2005, and offers a wide range of services that pertain to navigating complex regulatory environments to facilitate strategic decision-making.

The acquisition is accompanied by the appointment of Liberty Mncube as Managing Director and Lead for FTI’s Economic and Financial Consulting team in Johannesburg. Mncube was previously the Chief Economist at the Competition Commission and has been a Professor of Economics at a number of high-profile South African Universities.

Commenting on the appointments, Head of FTI Consulting in South Africa Petrus Marais said, “The arrival of Professor Theron and her team represents a clear statement of our aspirations in this rapidly developing market and, combined with the diverse range of expertise we are now able to offer, will enable us to continue our strong growth across the region.”

Theron herself added, “I am delighted that we are joining with FTI Consulting and very excited by what the future holds. The business, legal and regulatory landscape in South Africa is evolving at pace, and companies require ever more sophisticated support and advice. Our combined services, allied with FTI Consulting's large international network of offices and experts, will therefore enable us to provide the best possible service to our clients.”