Toby Duthie is a Founding Partner and Managing Partner of FRA. He has more than 23 years’ experience in financial analysis, complex financial modeling, investigations and compliance reviews. Fluent in English and German, Toby has particular expertise in multi-jurisdictional investigations, anti-bribery and corruption compliance testing, and specializes in matters of government enforcement.
Toby has worked on many complex financial frauds and bribery investigations, most notably leading the FRA team supporting Airbus in a multi-year, multinational investigation, resulting in €3.6bn settlement with four investigative authorities: UK Serious Fraud Office (SFO), the US Department of Justice (DOJ), the US Department of State (DOS) and French Parquet National Financier (PNF). FRA advised Airbus and its counsel from the early stages in designing a robust and forensically based approach to the investigation, customising a data governance strategy alongside compliance risk assessment and remediation support, as well as the eventual fine calculation.
He has also been involved in other disgorgement and fine calculation analysis requiring modelling in multiple jurisdictions including the Rolls-Royce £671 million DOJ, SFO and Brazilian settlement, the US$521 million Teva Settlement and the US$328 million SBM Offshore DOJ settlement. In 2021, Toby led the SFO-related fine calculation teams on the GPT (£28.1milliun) and Petrofac (£77 million) pleas – the latter included significant Ability to Pay work.
Toby has been integral in resolving high-profile enforcement cases going back to 2004 including Innospec, Panalpina, Total, Technip Bonny Island LNG and the Diebold FCPA monitorship. He has worked on matters involving UK, US, Swiss, Brazilian, Dutch and French regulators and has extensive experience calculating damages in FCPA enforcement actions. He has worked on four of the 10 largest FCPA settlements. A graduate with honors from University College London, Toby worked as a steel trader in Hong Kong and in the investment banking division of Deutsche Bank/Morgan Grenfell.
Toby sits on the editorial board of the Global Investigations Review (GIR), He also set up the UK’s first third party litigation funding company in 2002 (IM Litigation Management Limited) which pursued over 50 claims with over a 70 per cent success rate. Highly regarded and trusted within the industry, clients note that “there is no one better in the field”.
Who’s Who Legal says: “Toby is simply the best” “He is a top-quality forensic accountant” “He is one of the most articulate financial experts I have ever come across”.
Peers state that “there is no one better in the field” than Toby Duthie. He is noted as “sharp, practical and a real pleasure to work with”.
Who’s Who Legal Global Elite Thoughts Leader 2019, 2020 and 2021.
Who’s Who Legal Investigations: Forensic Accountants 2018, 2019, 2020 and 2021.
Who’s Who Legal Thought Leader GIR 2019.
Who’s Who Legal Consulting Experts: Forensic Accountants 2018 and 2019.