Archive for the ‘Navigant’ Category
| “We are excited to announce the promotion of ten exemplary Navigant professionals to the position of Managing Director,” said Julie Howard, President and Chief Operating Officer. “The newly promoted professionals have consistently demonstrated leadership – providing critical thinking and pragmatic solutions to their clients; offering mentorship and development of their staff; and being overall stewards of the firm. We look forward to their continued contributions to Navigant’s success.”
Karen Hohenstein is a recognized expert in women’s health, pediatrics and orthopedic program planning, and has led numerous healthcare planning engagements related to health system strategy, service line planning, ambulatory care and ambulatory surgical planning, clinical integration, managed care strategy, and physician compensation. Balraj Kakkar works with life science clients on product development and commercialization strategies to maximize the value of their assets, as well as valuation and due diligence work to support acquisition and licensing. Mr. Kakkar also has significant emerging market experience including work in Brazil, China and India. Michael Nugent leads the Managed Care & Pricing team within Navigant’s Healthcare practice. He has 20 years of experience in the health care industry and is a frequent speaker, writer and advisor to health system and payer executives on topics including payment reform and strategy, reimbursement methodologies, managed care contracting, revenue management, new product and service development, and strategic capital planning. Ed Wenzke has more than 25 years of healthcare experience. He has served as an oversight executive, project director and team member on diverse consulting assignments, and has held interim management positions in community hospitals and tertiary medical centers. Roger Zan has more than 20 years of experience in life sciences marketing. He has worked on a variety of projects including the disease areas of hypertension, diabetes, anti-thrombosis and projects involving product launch, lifecycle management, positioning, advocacy, market assessments and strategic planning. John Walker is an expert in defense and homeland security technologies, R&D portfolio analysis, product positioning, opportunity analysis, and business strategy. Mr. Walker has advised the United States Senate Armed Services Committee, the Office of the Secretary of Defense, the White House Office of Science and Technology Policy, the United Nations, and all three Defense Services. He also works with the Department of Homeland Security, NASA and other federal and private sector entities. Todd Williams has more than 25 years of experience in energy market analysis, strategic planning, renewable and clean generation development and valuation, demand-side management portfolio planning, and program design and evaluation. He provides strategic, policy, regulatory, procurement, valuation, and operational advice to governments, regulators, generators, developers, utilities and end-use customers. Todd Lester has more than 20 years experience providing investigative, forensic accounting and dispute analysis consulting services including performing assessments of internal controls and other critical business processes. He has conducted investigations in a wide variety of domestic and international forums and has extensive experience advising clients on multifaceted damages calculations, especially where complex databases and business systems are involved. Jonathan Drage, Esq. helps lead Navigant’s Chicago office business development efforts focused on law firm and corporate legal department relationships. He uses his experience as a litigator to advise corporate counsel and their outside attorneys in identifying and selecting the right expert or investigative resources relevant to a particular matter, specifically focusing on complex commercial litigation and internal investigations. Howard Gendler leads Navigant’s business development efforts internationally. He works across all of Navigant’s service lines, but focuses primarily on the firm’s Disputes & Investigations practice, leveraging Navigant’s expertise in international arbitration and commercial disputes, particularly those linked to the global financial crisis, cross-border investigations and forensic technology. Mr. Gendler has more than 25 years experience directing the sales of professional services and information services in Europe and the US. |
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Source: Top-Consultant
The office was launched in December 2010 with an event at which Michael Stokes, Managing Director in the Global Construction Practice at Navigant, told the 90-strong audience:
“Dubai is full of the some of the world’s biggest and best construction projects. At Navigant, we feel confident about serving this challenging market because we have some of the best experts in the world and some of the most highly regarded and sought after services for those in the know. We have the strongest Construction Consultancy and Disputes Practice in the world and more testifying experts than any other firm.”
The Dubai office, which opens with a team of three, is being led by Stokes. An expert in the fields of damages, delay and disruption and professional negligence, as well as Planning and Programming, Michael has over 20 years of construction industry experience. Michael has worked throughout Europe and the Middle East right across the sector, including infrastructure, power, process, oil & gas, and building projects on behalf of project sponsors, contractors and professionals.
Michael Stokes added: “There’s huge potential for Navigant’s services in the region. The construction and infrastructure industry globally has been severely impacted by challenging economic conditions, and it remains to be seen how the tightening of the public purse in some parts of the world will affect the industry. Disputes are increasing and companies need trusted advisers to help them through the maze of litigation and arbitration.
“I’m eager to bring Navigant’s established expertise and experience in large and complex international construction dispute and arbitration cases directly to bear in the region and in particular to introduce our Project Advisory Services capabilities.”
Navigant’s presence in the Middle East will also support the growing need for its expertise in broad disputes and investigations, as well as healthcare and energy. Navigant’s experience in the region includes:
- Working with a law firm on a contractor’s risks and opportunities as it headed for arbitration in connection with a GBP6.2bn Middle East infrastructure project;
- Serving as the quantum and programming expert in an arbitration for an international subcontractor against the joint venture main contractor concerning the construction of a new luxury hotel in Dubai;
- Working for a subcontractor to provide quantum and programming services in a GBP16million arbitration against its joint venture partner relating to an off shore platform in the region.
Source: Top-Consultant
Navigant Consulting, Inc. has acquired Daylight Forensic & Advisory LLC, an international regulatory consulting and investigative firm specializing in financial investigations, AML consulting, regulatory compliance, forensic technology services, and fraud risk management. Combining Daylight Forensic & Advisory’s industry expertise with Navigant’s Disputes and Investigations practice creates a significantly enhanced global investigative service offering, and reinforces Navigant’s strong New York presence.
“This combination is clearly a case of the whole being greater than the sum of its parts,” said William M. Goodyear, Chairman and Chief Executive Officer of Navigant. “Daylight’s market leading expertise in corporate investigations and compliance around AML, FCPA and fraud risk management, combined with Navigant’s deep forensic accounting capabilities, creates a comprehensive offering in the global investigations and compliance space. This combination comes at a critical time for our clients who are facing increasing regulatory pressure and risks associated with global business transactions.”
Daylight Forensic & Advisory is headquartered in New York City and the majority of their 65 consulting professionals are based there. Daylight Forensic & Advisory was founded in 2006 by Ellen Zimiles, Chief Executive Officer, and Joseph Spinelli, Chief Operating Officer. Zimiles has more than 25 years of litigation and investigation experience, including 10 years as a federal prosecutor in the Southern District of New York. She is a leading authority on AML programs, corporate governance, regulatory compliance, fraud control and public corruption matters.
Spinelli is a leading authority on white-collar crime with more than 30 years of forensic experience, including eight years as New York State’s first Inspector General, leading fraud, abuse, waste and corruption investigations for all New York State agencies and authorities. He also served as Assistant Director of Criminal Justice for the State of New York, with responsibilities for the investigation of criminal complaints and fraud allegations throughout state government. In February 2010, Spinelli was appointed by Governor Paterson of New York to the New York State Commission on Public Integrity.
“Pairing Daylight’s strong business investigations expertise with Navigant’s global reach and established forensic accounting practice enables our combined organization to provide both enhanced services to clients and broader opportunities to employees,” commented Zimiles. “Navigant’s client-centric focus is shared by all of us at Daylight, where our top experts have always worked side by side with clients.”
Source: Top-Consultant
“Navigant’s first quarter results met our expectations and provide a solid start to the year,” stated William M. Goodyear, Chairman and Chief Executive Officer. “Given the rapidly evolving regulatory landscape, our growth practices of Disputes, Economics, Healthcare and Energy are increasingly generating attractive consulting opportunities. Navigant’s favorable trends in pricing and utilization are positive indicators of a gradually improving business climate. Credit crisis related consulting activity continues to expand and, coupled with recent signs of increased government regulatory intervention, we are optimistic that business will continue to build as the year progresses.”
Navigant’s first quarter 2010 revenue before reimbursements (RBR) totaled $154 million, up slightly from $153 million in fourth quarter 2009 and down from $167 million in first quarter 2009. Year over year declines were the result of previously discussed service line redeployments and increased attrition that occurred in the Company’s west coast disputes practice in early 2010. Utilization increased modestly from fourth quarter 2009 and year ago levels, averaging 77% for first quarter 2010. Average bill rate also improved to $264 for first quarter 2010, up from $260 for fourth quarter 2009 and $252 for first quarter 2009. Average billable full time equivalents (FTEs) were essentially flat from fourth quarter 2009 to first quarter 2010, and were down 13% from first quarter 2009. The Company expects modest headcount growth over the remainder of 2010.
Navigant’s focus on cost management continues and its balance sheet remains strong. First quarter 2010 cost of services (before reimbursements) were $102 million versus $110 million for first quarter 2009, primarily reflecting the cost impact of staffing reductions and service line redeployments made in 2009. Year over year cost comparisons also benefited from lower severance costs. General and administrative expenses for first quarter 2010 were $30 million compared to $35 million for first quarter 2009. Lower depreciation, amortization and interest expense contributed to year over year improvements as well. Bad debt expense for first quarter 2010 was $2 million, a significant decline from $4 million for first quarter 2009. Additionally, days sales outstanding was 83 for first quarter 2010 compared to 87 for first quarter 2009.
Navigant’s Dispute and Investigative Services segment reported RBR of $63 million for first quarter 2010, down 3% from fourth quarter 2009 and down 12% from a strong first quarter 2009. First quarter 2010 average billable FTEs were down 20% from first quarter 2009, reflecting market driven staffing reductions as well as increased voluntary attrition in the segment’s western region. Segment results also showed signs of market recovery, as evidenced by acceleration in credit market related litigation, traditional commercial litigation opportunities and international arbitration matters. Revenues for this segment are expected to strengthen as the year progresses, benefitting from success in senior talent acquisition.
Navigant’s Business Consulting Services segment reported RBR of $57 million for first quarter 2010, down 2% from fourth quarter 2009 and down 14% from first quarter 2009. Strong utilization of 80% for first quarter 2010 was offset by the wind down and realignment of certain non core services in 2009. The segment’s Healthcare and Energy teams represented over 72% of first quarter 2010 Business Consulting segment revenues, compared to 60% for first quarter 2009. Navigant’s Healthcare practice is being sought for advice as providers seek to determine the impact of healthcare reform and focus on improving performance and better managing revenues. Navigant’s Energy team has been experiencing steady demand for services related to renewables, energy efficiency and Smart Grid, and the integration of Summit Blue Consulting, which was acquired on December 31, 2009, is meeting expectations. Additionally, the segment’s Restructuring and Valuations teams continued to perform well in the first quarter 2010.
Navigant’s International Consulting segment reported RBR of $16 million for first quarter 2010, down 8% from fourth quarter 2009 but up 4% from first quarter 2009. First quarter 2010 utilization and revenues were adversely impacted by the settlement of a large client engagement within the Construction practice. All other service lines within the International Consulting segment generally performed well and achieved increased RBR for first quarter 2010, compared to first quarter 2009.
Navigant’s Economic Consulting segment achieved RBR of $17 million for first quarter 2010, an increase of 48% from fourth quarter 2009 and a 32% increase from first quarter 2009. This strong performance reflected bill rate improvements, outstanding utilization of 90%, and the acquisition of Empiris, LLC on January 20, 2010. Improvements in disputes and regulatory related activities are expected to positively impact new project opportunities in the months ahead.
2010 Outlook
Navigant confirmed its 2010 guidance originally issued on February 18, 2010. Total revenues for the year are expected to range from $700 million to $750 million, and adjusted earnings per share (excluding the net income impact from severance and other operating costs) are estimated to be between $0.75 and $0.85. This outlook excludes any potential impact from significant acquisitions or from further redeployments of lower growth service lines.
“We expect our growth initiatives to be increasingly reflected in our financial results as the year progresses,” stated Mr. Goodyear. “Focus on emerging market trends in our core service lines is a priority, as are strategic investments in these key areas to enable us to maximize our positioning in the marketplace.”
Source: Top-Consultant