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Bill Clinton's Private Equity Career Short-Lived
Bill Clinton: Teneo Capital No Longer Paying Me
WASHINGTON -- Former President Bill Clinton has ended his paid relationship with the global financial consulting and private equity firm Teneo Capital, he confirmed in a statement Thursday night.
Clinton's statement was in apparent response to a New York Post report that Secretary of State Hillary Clinton had forced her husband to leave the firm to avoid the perception of conflicts of interest. The Post also reported that longtime Clinton aide Douglas Band was leaving the Clinton Global Initiative to focus on Teneo.
Band, in fact, is not leaving the Clinton Global Initiative, said Clinton. As for his own situation, "I did not sever my financial relationship with Teneo. I changed it," Clinton said. "Because of the invaluable help I continue to receive with my business relationships and speaking engagements, as well as with CGI and other philanthropic activities, like the Ireland investment conference, I felt that I should be paying them, not the other way around."
In November, The Huffington Post first reported Clinton's professional relationship with Teneo, founded by Band and Declan Kelly. The Post report said Secretary Clinton believed "the former president has 'damaged' the 'Clinton brand' by entangling himself and his organizations in arrangements that could appear questionable." As HuffPost reported in November, former British Prime Minister Tony Blair was also brought on by Teneo to serve on its paid advisory board.
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Full article here: http://www.huffingtonpost.com/2012/03/02/bill-clinton-teneo-capital_n_1315067.html
Clinton's statement was in apparent response to a New York Post report that Secretary of State Hillary Clinton had forced her husband to leave the firm to avoid the perception of conflicts of interest. The Post also reported that longtime Clinton aide Douglas Band was leaving the Clinton Global Initiative to focus on Teneo.
Band, in fact, is not leaving the Clinton Global Initiative, said Clinton. As for his own situation, "I did not sever my financial relationship with Teneo. I changed it," Clinton said. "Because of the invaluable help I continue to receive with my business relationships and speaking engagements, as well as with CGI and other philanthropic activities, like the Ireland investment conference, I felt that I should be paying them, not the other way around."
In November, The Huffington Post first reported Clinton's professional relationship with Teneo, founded by Band and Declan Kelly. The Post report said Secretary Clinton believed "the former president has 'damaged' the 'Clinton brand' by entangling himself and his organizations in arrangements that could appear questionable." As HuffPost reported in November, former British Prime Minister Tony Blair was also brought on by Teneo to serve on its paid advisory board.
<SNIP>
Full article here: http://www.huffingtonpost.com/2012/03/02/bill-clinton-teneo-capital_n_1315067.html
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