Business Irish

Friday 20 September 2019

Declan Kelly steps down from role at FTI consulting

Ailish O'Hora

TIPPERARY-born entrepreneur Declan Kelly, who was one of the leading advisers to now US Secretary of State Hillary Clinton, is stepping down from FTI, the international consulting firm that acquired his company, Financial Dynamics, in 2006.

Mr Kelly, who also advises some of the leading Fortune 50 top chief executives, will remain with the company in a consulting capacity but will step down as executive vice president, or chief integration officer.

More recently, on this side of the Atlantic, FTI and a number of other firms lost out to Merrill Lynch for the role of banking and financial adviser to the National Asset Management Agency (NAMA).

The job went out to tender in the middle of May and yielded 600 initial expressions of interest. However, only 72 parties managed to put together a pitch within the tight, 13-day tender period.

His departure has led to speculation about Mr Kelly's next move and the announcement of his departure stated that he is leaving to pursue "non-commercial opportunities outside the company".

Since the acquisition of Financial Dynamics, Mr Kelly had been touted as a likely potential chief executive of the NYSE-listed company at some point in the future. FTI is a $3bn company with operations in over 20 countries.

But given his political experience, it was also expected that he could be tapped for some kind of political role.

Mr Kelly (40), is also a strong supporter of the Democratic Party and was active in backing President Obama's campaign after Secretary Clinton dropped out of the race for the position of President.

More recently his brother Alan secured himself a seat in the European Parliament elections as the mid-west's Labour candidate.

Outside of his business interests, Mr Kelly serves on the boards of numerous philanthropic and community-based organisations which focus on Irish issues, including the American Ireland Fund.

He is also chairman of the US Foundation Board of NUI Galway, where he once studied.

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