Thistle Initiatives undergoes boardroom expansion to complement growing revenues

credit: Shutterstock
credit: Shutterstock

Financial compliance consultancy firm Thistle Initiatives has expanded its leadership team through the appointment and promotion of three key hires. 

Firstly, Harry Cotton gained promotion to Chief Commercial Officer, whilst two new additions; Tom Dudley and Sue Knight, were appointed as an Investments Practice Partner and Chief Operations and People Officer, respectively. 

Furthermore, four members have also transitioned from Practice area leads to Partners, which includes Alex Paschalis, Matthew Williamson, Lorraine Mouat, and Jessica Cath.

Dudley joined Thistle Initiatives having founded and grown wealth-focused consultancy business The Compliance Platform. With previous experience as a Chief Risk Officer and Chief Compliance Officer at large regulated businesses, Dudley aims to bring his client-side experience with him. 

He commented on his appointment: “I’m thrilled to be joining Thistle Initiatives at such a pivotal time. There is clear opportunity to not only nurture and expand client relationships, but also broaden our service offering across the wealth sector. The capability in the company is astonishing, and together with our ambition, the future looks very bright.” 

Knight, as Chief Operations and People Officer, has over 25 years of experience in PE-backed professional services businesses. She has a track record in organisational development with a strong people focus and expertise in building leadership teams to manage growth and transformation. 

This repositioning forms part of a strategic internal transformation, spurred on by the business’ increasing client base and market share.  

Under the leadership of CEO, Sophie Long, Thistle Initiatives has seen its revenue grow over the past two years – increasing by 40% from March 2022 – March 2024 (20% Annual CAGR) and headcount increasing by 58%. 

During this time, Thistle Initiatives had also added to its service offering by adding prudential services, buy and sell side due diligence, risk management and a new fraud offering. 

Long commented on the leadership team: “These talented individuals have demonstrated exceptional leadership, dedication, and a strong commitment to driving results for our clients. Their transition to Partner reflects their outstanding contributions to the firm’s growth and our belief in their ability to shape the future of Thistle Initiatives. 

“As we continue to grow, we’re seizing the opportunity to enhance our internal operations, and Sue will be a key part of this in her role as Chief Operations and People Officer. Harry has excelled at the company since his appointment earlier this year and we are confident that he will continue to do so in his new role as Chief Commercial Officer. 

“The Partners own the growth and development of new and existing sectors and services, and the addition of Tom brings unique client-side experience as well as relationships and knowledge that will be invaluable for supercharging our strategy execution.”