FS sets up London advisory as UK expansion gathers pace
Ferrovie dello Stato Italiane (FS), Italy’s state-owned rail group, has set up a new London-based consultancy unit, adding to its international expansion with the UK as a central focus.
FS said the new company, FS Advisory, will provide transport and infrastructure advisory services to governments, institutional investors, operators, infrastructure developers, and engineering and construction firms involved in complex mobility projects.
The group said the unit will operate as a separate advisory business while drawing on FS’s operational capabilities — describing the offer as “advisory with implementation experience” rather than pure strategy.
What the London unit is set up to sell
FS said it is targeting demand for integrated expertise across areas that are often split between multiple advisers, including regulation, infrastructure development, and operational management.
It said FS Advisory will support public and private clients on transport-sector reorganisations, including digital mobility solutions such as ticketing platforms and performance monitoring systems used at scale across parts of Europe.
The group also said the offer includes “shadow” advisory and interim management services aimed at public ownership and governance transitions, as well as operational change programmes.
Leadership and UK track record
FS said FS Advisory will be led by Ernesto Sicilia, who previously led Trenitalia’s UK operations for almost a decade.
FS Group CEO Stefano Antonio Donnarumma said the launch reflects an expectation of sustained global transport investment, adding that delivery will depend on regulatory frameworks and operating models that can absorb new investment.
FS said the London base is intended to sit within its existing international platform and support overseas workstreams where governance and operating models are central.
How it fits FS’s UK play
FS positioned the London base as part of the international growth strategy it presented in 2025, and as a complement to its existing overseas platform under FS International.
The group has previously said it is targeting a 2029 launch for high-speed passenger services between London and Paris, framing the project as part of a wider effort to grow passenger activity outside Italy.
By placing the advisory arm in London, FS is also building a UK-facing capability alongside an operating presence and ambitions led by Trenitalia, with the group seeking to expand further in the market.
What to watch: Whether FS Advisory’s first mandates cluster around UK rail reform and governance change — and how far the unit becomes a bridge between advice and FS group delivery capacity on live programmes.