Declan Kelly and Douglas Band, both with deep political connections, have hired former US President Bill Clinton and former UK Prime Minister Tony Blair to advise their financial consulting firm Teneo Capital, The Huffington Post reported.
Clinton and Blair will form an advisory board for Teneo Capital, with Clinton as chair, according to the company’s website.
Kelly used to be a State Department envoy to Northern Ireland (his homeland) and fundraiser for Hilary Clinton in her 2008 presidential bid. Band, on the other hand, was a former Clinton aide.
According to Teneo’s website, Teneo Capital is part of a larger holding company Teneo Holdings, that has a third founder Paul Keary, who used to work with Kelly at another company FTI Consulting.
There was some initial doubts about whether Clinton would be able to work as an advisor to Teneo because of Hilary’s position as Secretary of State — perhaps an even more serious issue now in the wake of the Congressional insider trading scandal. But Kelly said the State department has signed off on association.
Currently, Teneo Capital’s services include advising on mergers and acquisitions, capital raising, restructuring, independent assessments and private equity investing according to its website. But Kelly told the Huffington Post that he would like to raise money for a private equity fund or hedge fund.
Having a famous political face associated with the company may help with that — Teneo Capital has applied for funding from the Rockefeller Foundation, which the Clinton family has close ties to. In addition, Clinton has announced Teneo Capital will sponsor the Global Irish Economic Forum in New York next year.