11 March 2026 - London-based independent financial services consultancy Thistle Initiatives has acquired management consultancy TORI Global. The acquisition sees two of the City’s most established independent consultancies integrate to form a premier digital transformation and advisory services hub for the Financial Services sector.
Thistle Initiatives is a multiple award-winning financial services and compliance consultancy founded in 2012. The business has supported over 1,000 banks, wealth management, investment and advice firms, insurers, payment providers, fintech, and digital assets firms. In addition to providing support with FCA Authorisations, Acquisition Due Diligence, Audits, Supervision and Enforcement, Financial Crime and Fraud Prevention, the company has expanded its focus to management consulting across the financial services sector, increasingly covering M&A support and digital transformation initiatives.
The company recently appointed new CEO Scott Friedrichs, a seasoned consulting leader with over 30 years of experience, with a mandate to broaden Thistle’s expansion from compliance consulting to management consulting across the financial services sector. This acquisition reinforces Thistle’s commitment to providing comprehensive, expert solutions for financial services institutions navigating complex industry shifts.
Headquartered in London with additional offices in Ireland and New York, TORI Global operates across the UK, North America, and APAC. Over the past 20 years, the firm has completed more than 1,000 engagements for a client base exceeding 200 financial services organisations.
The firm has extensive capabilities in data, digital and AI transformation. Its services span project and programme management, benchmarking, management information services, vendor management and smartsourcing, change management, business process redesign, and interim management. It also delivers a comprehensive suite of technology-focused services, including IT business management, infrastructure services management, data architecture and data management, and telecommunications and network services.
Martin Harvey, TORI Global CEO says:
“TORI was created to be a credible alternative to ‘the Big Four’ within Financial Services. To be a transformational consultancy that delivers excellence and a carefully curated approach to each client and each project. Thistle has a similar ethos and ambition, and as our team integrates within Thistle’s advisory powerhouse, this will boost the ability to advise financial services firms across the full range of innovation, operations, resilience and compliance challenges.”
Scott Friedrichs, CEO of Thistle Initiatives added:
“We are very pleased to confirm the acquisition of TORI Global and to welcome their outstanding team to our organisation. This strategic move significantly enhances our digital transformation division and advances our ambition to build a leading centre of expertise for the financial services sector. By combining TORI’s capabilities with our long‑established strengths in compliance and financial crime prevention, we are positioned to deliver even greater impact for clients and support large‑scale digital transformation across both scaling and enterprise financial institutions.”
The combined Thistle and TORI team now brings together deep regulatory expertise with strong change and transformation capability. If you would like to understand how this can support your next programme or help you navigate emerging regulatory, operational or transformation challenges, please get in touch. We will arrange a conversation with the right specialists.
Get in touch at info@thistleinitiatives.co.uk or call 020 7436 0630 to speak with our team.