CRA Reclaims Antitrust Expert Amid Global Regulatory Firestorm

BOSTON, MA – April 16, 2026 – In a significant move that underscores the escalating demand for high-level antitrust expertise, Charles River Associates (NASDAQ: CRAI) has announced the return of Hitesh Makhija to its ranks as a Vice President. The re-hiring of the M&A specialist and litigation expert into the firm’s Antitrust & Competition Economics Practice comes at a time when corporations face unprecedented regulatory scrutiny from competition authorities across the globe.

Makhija, who previously spent a decade at the Boston-headquartered consulting firm from 2012 to 2022, rejoins CRA after a period at another large international economics firm. His return is being seen not just as a personnel change, but as a strategic reinforcement of CRA’s capabilities in a market defined by increasingly aggressive and complex antitrust enforcement.

A Strategic Move Amidst Global Regulatory Pressure

The timing of Makhija’s return is anything but coincidental. Regulators in the United States, Europe, and Canada have initiated a wave of policy shifts and enforcement actions, creating a treacherous landscape for businesses, particularly those pursuing mergers and acquisitions. This new era of muscular antitrust oversight has placed a premium on the sophisticated economic analysis that firms like CRA provide.

In the United States, the Department of Justice (DOJ) and the Federal Trade Commission (FTC) have signaled a more aggressive enforcement posture, challenging mergers and conduct across a wide swath of the economy, including technology, healthcare, and energy. Recent expansions to the Hart-Scott-Rodino (HSR) filing requirements have increased the data and documentation burden on merging parties, demanding more intensive upfront analysis. The agencies are also actively scrutinizing emerging markets like Artificial Intelligence, focusing on competition in crucial inputs such as semiconductors and data centers—areas squarely within Makhija’s documented expertise.

Across the Atlantic, the European Commission is robustly enforcing its landmark Digital Markets Act (DMA), which has already led to significant investigations and fines against designated “gatekeeper” tech companies since March 2024. The EU is also in the midst of a major review of its merger guidelines, signaling a potential shift to incorporate broader considerations like innovation, sustainability, and labor-market impacts into its assessments.

Meanwhile, Canada has completed a “once-in-a-generation reset” of its Competition Act, arming its Competition Bureau with powerful new tools. These include the criminalization of wage-fixing and no-poach agreements, expanded powers to conduct market studies, and a longer look-back period to challenge non-notified mergers. The Bureau has made it clear it intends to use these new powers vigorously to address affordability and consumer choice.

The ‘Boomerang’ Hire and the War for Talent

Within this high-stakes environment, a fierce “war for talent” is raging among elite economic consulting firms like CRA and its chief competitors, including NERA Economic Consulting, Cornerstone Research, and The Brattle Group. The value of an expert with a proven track record in navigating multiple regulatory jurisdictions is immense. Makhija's return to CRA—a “boomerang” hire—highlights the premium firms place on retaining and reclaiming top-tier professionals with deep institutional knowledge and extensive experience.

“I am pleased to welcome Hitesh back to CRA,” said Paul Maleh, President and Chief Executive Officer of Charles River Associates, in the company’s announcement. “He specializes in antitrust economics and industrial organization and has extensive experience leading teams in conducting sophisticated economic and financial analyses in antitrust-related litigation across a range of industries.”

Makhija’s profile is a case study in the type of expertise that is in high demand. With dual Master’s degrees in Economics and an engineering background, he brings a quantitative and analytical rigor to complex competition issues. His experience leading teams before regulators in the United States, Canada, and Europe makes him a versatile asset for multinational corporations facing simultaneous reviews.

The Economist’s Crucial Role in High-Stakes Antitrust

The re-hiring also shines a light on the critical, often behind-the-scenes, role that economic consultants play in shaping the outcomes of major corporate battles. These experts are the silent architects who build the evidentiary foundation for legal arguments in multi-billion dollar M&A deals and antitrust litigation. They evaluate the competitive effects of mergers, analyze allegations of anti-competitive conduct, and define the boundaries of a market—all of which can determine whether a deal is approved, a lawsuit is won, or a company faces crippling fines.

Makhija’s experience spans numerous industries currently under the regulatory microscope, including semiconductors, software, hardware, retail, oil and gas, automobiles, and airlines. His work involves submitting complex economic evidence to bodies like the FTC, DOJ, the European Commission, and the Canadian Competition Bureau—the very agencies now driving the global enforcement surge.

As Margaret Sanderson, Global Practice Leader of CRA’s Antitrust & Competition Economics Practice, noted, “He has advised numerous Fortune 100 companies on antitrust risks associated with strategic decisions, and joins our team of practitioners who combine exceptional academic backgrounds, deep industry expertise, and proven litigation experience to assist our clients in their complex competition matters.”

This move fortifies CRA’s ability to provide the sophisticated modeling and empirical analysis required to defend corporate strategy in an era where regulators are increasingly skeptical of consolidation and dominant market behavior. For clients in the tech sector facing DMA compliance challenges or semiconductor firms navigating scrutiny over AI inputs, having an expert who has successfully navigated these waters before is invaluable.

By bringing Makhija back into the fold, CRA is not only adding a senior expert but is also signaling to the market and its clients that it is doubling down on its investment in the intellectual capital necessary to win today’s complex antitrust fights. As regulatory bodies continue to expand their reach and deepen their analyses, the demand for consultants who can speak their language and challenge their assumptions with robust data has never been higher. In a global economy where competition rules are being rewritten, the return of a seasoned expert is not just a personnel announcement—it is a clear statement of intent.