Toby Duthie

Practice Areas

Toby Duthie is a Founding Partner and Managing Partner of FRA. With almost 25 years’ experience in financial analysis, complex financial modelling, investigations and compliance reviews,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 “there is no one better in the field”.

Career

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 worked on 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.

Languages Spoken

English, German and French

Awards