London-based Thistle Initiatives has acquired TORI Global, combining two independent consultancies to expand advisory expertise and digital transformation services for global financial institutions.
Thistle Initiatives, a London-based independent financial services consultant, has paid an undisclosed sum to purchase management firm TORI Global. Through the acquisition, two of the most reputable independent consultancies in the city will come together to create a leading center for advisory services and digital transformation for the financial services industry.
Over 1,000 banks, wealth management businesses, investment and consulting firms, insurers, payment providers, fintech companies, and digital asset firms have been backed by the company, which employs more than 70 people. TORI Global operates in the UK, North America, and APAC, with its headquarters located in London and offices in New York and Ireland. The firm has conducted over 1,000 engagements for over 200 financial services organizations over the last 20 years.
"The company is glad to confirm the acquisition of TORI Global and to welcome its team to the organization," said Scott Friedrichs. He pointed out that the strategic action advances Thistle's goal of creating a premier center of knowledge for the financial services industry and greatly strengthens the company's digital transformation division. Through the integration of TORI's capabilities with Thistle's well-established competencies in financial crime prevention and compliance, the business is positioned to enable a major digital transformation across enterprise and scaling financial institutions and make a stronger impact for clients.
TORI's services include project and program management, benchmarking, management information services, vendor management, change management, business process redesign, and interim management due to its proficiency in data, digital, and AI transformation.
According to Martin Harvey, CEO of TORI Global, the company was founded to function as a transformative consultancy that delivers excellence with a carefully chosen approach to each client and project and to be a reliable alternative to the Big Four in the financial services industry. The integration of the TORI team into Thistle's consulting platform will enhance the ability to serve financial services organizations across innovation, operations, resilience, and compliance concerns, he continued, adding that Thistle shares similar ideals and ambition.
