WASHINGTON: FTI Consulting has stopped working with the Abu Dhabi Investment Authority eight months into a three-year, $1.8 million deal.
The agency terminated its work providing “registrable services” for the authority effective October 31. All FTI employees have stopped working for the organization, according to a Foreign Agents Registration Act filing.
FTI renewed its deal with the Abu Dhabi Investment Authority in March, according to a statement of work agreement. The work was meant to run through March 2023 and would have earned the agency $48,950 per month in fees, according to a filing from March. FTI signed an initial master services agreement with the authority in February 2018.
Under the March 2020 agreement, FTI was set to provide “communications consulting services relating to promoting the foreign principal's interests within the United States.” Those services included proactively managing external interest in its investments to protect its reputation as an investor.
The agency was also set to target, arrange and manage media interviews for the authority and manage its online profile. In addition, FTI would provide media expertise, political and regulatory insights and asset-specific and issues research, according to the documents.
The agency was also set to produce content and manage M&A-related financial communications, public affairs and crisis communications for the authority.
An FTI representative could not be immediately reached for comment.
FTI’s strategic communications segment posted a Q3 organic revenue drop of 11.7% to $53 million. Last year, FTI’s communications revenue increased by 9% to $243.1 million, according to PRWeek’s Agency Business Report 2020.