Teneo Holdings, a global consulting firm with ties to Bill and Hillary Clinton, is reportedly considering a public offering that would value the company as much as $1 billion.
The firm was co-founded by Doug Band, a former top aide in the Clinton White House who played a key role in setting up the Clinton Foundation. Band’s partner, Irish-American businessman Declan Kelly, was appointed a U.S. envoy to Northern Ireland by Hillary Clinton during her time as secretary of state.
Based in New York, the consulting firm represents an array of deep-pocketed clients, including corporations, CEOs, and sketchy oligarchs, who reportedly pay up to $300,000 a month in retainer fees. Teneo was retained by the embattled soccer organization FIFA last year following an FBI corruption sting.
Teneo also represents shady Lebanese-Nigerian billionaire and Clinton Foundation donor Gilbert Chagoury. Emails reveal that Band sought favors on behalf of Chagoury via top Hillary aide Huma Abedin, who was under a special arrangement that allowed her to work part-time for Teneo while employed at the state department.
Since 2013, the Senate Judiciary has been investigating whether Teneo had improper influence over the state department during Hillary Clinton’s tenure as secretary of state.
Former President Clinton, as well as former British Prime Minister Tony Blair, were both hired as early advisers to the firm after its launch in 2011.
Teneo is listed as a corporate donor to the Clinton Foundation. Band and Kelly have also personally donated hundreds of thousands of dollars to the foundation.
The firm’s public offering, which could happen as early as 2017, after Hillary Clinton is (potentially) sworn in a president, could make Doug Band even richer. Having a direct line to the president of the United States would be a pretty compelling selling point when it comes to attracting new clients. It certainly pays to be a friend of the Clintons.
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