Toby Duthie

Founding Partner
Associé Fondateur
London
email
+44 7968 944743
email

Biography

Toby Duthie is a Founding Partner and Managing Partner of FRA. He has almost 25 years’ experience in financial analysis, complex financial modelling, investigations and compliance reviews. Fluent in English, German and French, Toby has particular expertise in multi-jurisdictional investigations, anti-bribery and corruption compliance testing, and specializes in matters of government enforcement. Highly regarded and trusted within the industry, clients note that “Toby is a superstar. He is thoughtful, strong at identifying the biggest issues facing a company and insightful in finding paths forward” and that “there is no one better in the field”.

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 been involved in many other headline disgorgement and fine calculation analysis requiring modelling in multiple jurisdictions. Most recently, he supported Entain plc in relation to a HM Revenue & Customs investigation, resulting in the first ever DPA with the UK Crown Prosecution Service and a £585 million settlement. Toby previously supported ABB’s $327 million settlement with South African, US and Swiss authorities related to the legacy Kusile project. In 2021, Toby led the SFO-related fine calculation teams on the GPT (£28.1million) and Petrofac (£77 million) pleas – the latter included significant Ability to Pay work which was conducted in conjunction with a debt and equity raise. Other significant matters include 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.

Toby has been integral in resolving high-profile enforcement cases (including FCPA matters) going back to 2004. These include Innospec, Panalpina, Total, Technip Bonny Island LNG and the Diebold FCPA monitorship. Clients note “Toby Duthie is preeminent in the area, and I find him really excellent. I enjoy working with him and he is well respected by various government agencies. He understands the arguments you can make and the ones you cannot make, and he then helps you to take the right approach.”

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. 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.

Authority experience

Serious Fraud Office (SFO)
The Financial Conduct Authority (FCA)
HM Revenue & Customs (HMRC)
The Crown Prosecution Service (CPS)
National Crime Agency (NCA)
Controladoria-Geral da União (CGU)
Ministerio Publico Federal (MPF)
Advocacia-Geral da União (AGU)
Parquet National Financier (PNF)
Agence Française Anticorruption (AFA)
Autorité des Marchés Financiers (AMF)
European Commission (EC)
African Development Bank (AfDB)
Fiscale Inlichtingen- en Opsporingsdienst (FIOD)
Germany – Various Federal and State Prosecutors

Awards & Recognition

2020-2023 Global Leader - Consulting Experts - Forensic Accountants, Who's Who Legal

2020-2022 Thought Leaders - GIR - Investigations Forensic Accountants, Who's Who Legal

2020-2023 Thought Leaders - Global Elite - Investigations Forensic Accountants, Who's Who Legal

2020-2023 Global Leader - Investigations Forensic Accountants, Who's Who Legal

2018 and 2019 Investigations Forensic Accountant of the Year, Who's Who Legal

Accreditations

No items found.

Languages

English
German
French

News and insights

Webinar

Live Webinar | What Lawyers Need to Know About Accounting Judgments

Event

FRA International Senior Leaders Recognized in Who’s Who Legal Consulting Experts 2023

News

FRA Named Among GIR 100 Investigations Consultancies, 2023