Press Release

Four Managing Directors Join Navigant Consulting's Expanding Financial and Insurance Services Practice

November 10, 2005 at 8:56 AM EST

CHICAGO--(BUSINESS WIRE)--Nov. 10, 2005--Navigant Consulting, Inc. (NYSE:NCI) announced today that four leading financial services professionals have joined the firm as Managing Directors, expanding and strengthening its Financial and Insurance Services practice. The addition of Paul Braithwaite, David Kay, Jim Schacht and Jess Varughese adds significant expertise to the Company's service offerings to the financial services industry in the areas of actuarial consulting, finance and accounting, insurance regulation and operational consulting.

"The nature of our business is driven by clients' demand for operational and financial improvement," stated Sharon Siegel Voelzke, Managing Director and a leader of Navigant Consulting's Financial and Insurance Services practice. "The intellect and insight of these professionals enables them to bring the leadership our clients require, along with the hands-on expertise to address complex issues, quickly and efficiently. This esteemed group of professionals enhances our ability to service all segments of the financial services industry by working with our clients in a trusted advisory role."

Navigant Consulting's Financial and Insurance Services practice assists clients in banking, capital markets, asset management and insurance. Areas of specialty include risk and regulatory compliance; operational and technology consulting; finance and accounting consulting; data and information management; transaction reconciliation; discovery services; actuarial and claims consulting; and dispute resolution and litigation support. The new team members bring a unique blend of industry expertise and practical consulting experience to Navigant Consulting.

Paul Braithwaite is the current President-Elect of the Casualty Actuarial Society and has extensive actuarial science experience. He has provided expert advice to insurance companies and investment firms on acquisitions, reinsurance commutations and strategy, and has also served as expert witness in insurance and reinsurance disputes. He has played such critical roles as Chief Actuary as well as Senior Vice President and Chief Underwriting Officer across several global specialty business lines. At Navigant Consulting, Braithwaite will lead the growing actuarial consulting team.

David Kay has more than 25 years of experience in providing public accounting, finance and related services to the financial services and real estate industries. Most recently, he was the Chief Financial Officer of the JE Robert Companies, a large private equity investor in real estate and commercial mortgages. Prior to that, he held numerous leadership roles with Arthur Andersen, including market leader of the Washington DC area Financial Services practice; Managing Partner of the Pittsburgh office; and Managing Partner for the Mid-Atlantic accounting and audit practice. At Navigant Consulting, Kay will provide strategic direction and leadership to the finance and accounting consulting team.

Jim Schacht is the former Director of Insurance and Special Deputy Receiver for the State of Illinois and has more than 40 years of insurance experience. He spent 30 years with the Illinois Insurance Department and is involved with the National Association of Insurance Commissioners (NAIC), chairing numerous committees creating insurance monitoring, auditing and policy leadership for state departments and the insurance industry. In the last 10 years, Schacht developed a practice for PricewaterhouseCoopers LLP focused on advising national and international clients on insurance and regulatory matters. At Navigant Consulting, Schacht will focus on regulatory issues and provide assistance to troubled companies.

Jess Varughese has 17 years of consulting experience within the financial services industry in the areas of finance and operational stabilization, re-engineering and integration, acquisition due diligence, risk management, regulatory advisory, and investigation. A Chartered Accountant from the United Kingdom, he has served as a trusted advisor to senior management teams of some of the world's largest global financial services institutions. At Navigant Consulting, Varughese will jointly lead the Financial and Insurance Services practice, providing business and operational advisory services to global financial institutions.

About Navigant Consulting

Navigant Consulting, Inc. (NYSE:NCI) is a specialized independent consulting firm providing dispute, financial, regulatory and operational advisory services to government agencies, legal counsel and large companies facing the challenges of uncertainty, risk, distress and significant change. The Company focuses on industries undergoing substantial regulatory or structural change, including healthcare, energy and financial and insurance services, and on the issues driving these transformations. "Navigant" is a service mark of Navigant International, Inc. Navigant Consulting, Inc. (NCI) is not affiliated, associated, or in any way connected with Navigant International, Inc. and NCI's use of "Navigant" is made under license from Navigant International, Inc. More information about Navigant Consulting can be found at

    CONTACT: Navigant Consulting, Inc.
             Joni Petrus, 215-832-4416
             Andrew Bosman, 312-573-5631

    SOURCE: Navigant Consulting, Inc.

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