Clinton no longer paid adviser to Irishman's firm
FORMER US president Bill Clinton is no longer a paid adviser to financial firm Teneo Capital, the high-profile firm founded by Irishman and former US economic envoy Declan Kelly.
But his spokesman last night said that he would become a client of Teneo, which will also continue to act for Mr Clinton's charity organisations on a pro bono basis. He will also act as an adviser in an unpaid capacity.
Mr Clinton was lauded as a major coup for Teneo when he joined its advisory board, along with former British premier Tony Blair. The advisory board no longer exists.
He is now a "friend and unpaid adviser to Teneo and its founders" and no longer sits on its advisory board, his spokesman confirmed last night.
"His advisory board role at Teneo transitioned at the end of 2011, when he asked the company to represent him going forward in a personal capacity," the spokesman added.
Mr Kelly began life as a journalist and co-founded Dublin-based Gallagher & Kelly Public Relations before becoming economic envoy to the US for his native Northern Ireland.
His most high-profile role has been at Teneo, which he set up with Doug Band, a senior adviser to Mr Clinton, and Paul Keary, a senior managing director of FTI consulting.
As well as its notable advisory board, Teneo also hit the headlines for advising John Corzine's derivatives broker MF Global, which collapsed under the pressure of the eurozone debt crisis.
Teneo's consulting arm also won a $3.4m (€2.5m) grant from the Rockefeller Foundation to come up with "tangible solutions to the global crisis".
With offices in Dubai, Beijing, Hong Kong, London, Washington, Zurich and Dublin, Teneo now has n 90 staff.