Latest news with #Teneo
Irish Times
7 days ago
- Business
- Irish Times
From Tipp to Salford via Wall Street: How businessman Declan Kelly joined the dream team
Six years ago, before Declan Kelly went into business with Tom Brady and Serena Williams and Ronan O'Gara and David Beckham and Gary Neville, before his takeover of Salford City, and before his soaring business career was temporarily derailed by scandal, he was part of Tipperary's secret sauce. After the final whistle in the 2019 All-Ireland hurling final Kelly materialised on the touchline in Croke Park, sporting an access-all-areas pink wristband, and a versatile sports coat and chinos, apt for a cocktail evening in the Hamptons or midtown Manhattan. Sponsors are not usually part of the post-match, on-field hootenanny, although JP McManus is another recent exception. In this case, Kelly and the Tipp manager Liam Sheedy were childhood friends. Growing up in Portroe in North Tipperary, Sheedy and Kelly were part of a thriving Scór scene, the GAA's cultural championships. Portroe had a tribal following on the village hall circuit and Sheedy and Kelly were a pair of fiery set dancers. READ MORE At the time of the 2019 All-Ireland Kelly was chairman and chief executive of Teneo, a global consultancy and communications firm he had founded at the beginning of the decade. He would have had the wherewithal to sponsor Tipperary long before then, but the timing of his intervention didn't need to be decoded: Sheedy had returned for a second spell as Tipp manager and Kelly swept in as his wing man. Between the sponsorship deal and ancillary fundraising, it was estimated that anything up to €350,000 had been generated for the team during the season, and once the All-Ireland was won the harvest continued. On a parallel track, Kelly was an active supporter of the Gaelic Players Association (GPA) from its inception and for many years played a pivotal role in their New York fundraising. Kelly's links to the GAA, though, are easily traced to his roots. How he came to build business connections with Brady, Williams, Beckham, Neville, O'Gara and others is a longer and more complex story. Teneo chief executive Declan Kelly at the homecoming for All-Ireland winners Tipperary at Semple Stadium in August 2019. Photograph: Laszlo Geczo/Inpho Until now, sport had not been his business, though he drifted in and out of that world. In his early life as a business reporter, Kelly moonlighted as a hurling columnist in the Cork Examiner, as it was called then. The column bristled with inflammatory opinions that, from time to time, landed the Examiner in bad odour with the Cork county board. One memorable column, calling for Canon Michael O'Brien to be removed as Cork hurling manager in the early 1990s, ran under the pithy headline Fire The Canon. In the offices of the county board no marks were awarded for cute wordplay. [ Serena Williams to be advised on business interests by Declan Kelly's Consello Group Opens in new window ] Kelly left journalism in the mid-1990s to make his fortune, and for the next 25 years, his success was extraordinary. He set up a public relations company with Jackie Gallagher, another former reporter, which they built up and sold for more than €8 million. He was later involved in a management buyout in which Kelly and his partners acquired the business for €40 million before later selling it on for about seven times that amount. By the early 2000s he was spending more and more time in New York and in 2007 he was introduced to Hillary Clinton at an event hosted by the journalist and publisher Niall O'Dowd. A year later, when she made her first run for the White House, Kelly was one of her most prolific fundraisers, generating up to $3 million for her campaign. It started a relationship with the Clintons that blossomed over the next three or four years. When Hillary Clinton was made secretary of state in the Barack Obama administration, she appointed Kelly as her economic envoy to Northern Ireland. Over time, though, tensions arose, and the relationship cooled. In March 2012 Bill Clinton resigned his seat on Teneo's advisory board. The company continued to grow, regardless. In June 2019, three months before Tipp won the All-Ireland with Teneo's name on their shirts, they sold a majority stake to a private equity group for more than $350 million, which, according to the Wall Street Journal, put the company's worth at about $725 million. Two years later, though, the sky fell in. In a report by the Financial Times Kelly was accused of 'inappropriate behaviour' while in a 'drunken' state at a charity event. After a few days of irresistible pressure, he resigned from Teneo. In a statement full of contrition Kelly acknowledged that he 'behaved inappropriately towards some men and women at the event,' and that he had apologised to those he had offended. The statement also said that Kelly 'was committed to sobriety' and was receiving treatment. Gary Neville and Ryan Giggs at Salford City's stadium in February 2021. Photograph:People wondered how Kelly could recover from such reputational damage. The people who knew him best didn't wonder so much. Within months he founded Consello, an advisory and investing platform and among his original partners were former executives of Uber and Qualcomm. Then, in April 2022, they were joined by Tom Brady, the greatest quarterback in the history of the NFL. It was yet another demonstration of Kelly's extraordinary talent for networking and renewal. Over the last three years, Consello has acquired the services of blue-chip names from the wide world of sport: Williams, O'Gara, Neville, the two-time NBA winner Pau Gasol, the former Ryder Cup captain Paul McGinley. The relationship with Neville catalysed Kelly's latest project. At the beginning of the month Kelly, Neville and David Beckham took ownership of Salford City, the League Two side that was famously owned by Manchester United's Class of '92. Nicky Butt, Ryan Giggs, Paul Scholes and Philip Neville owned 60 per cent of the club, but they have been bought out. Kelly is now co-chair of the club along with leading UK financier Lord Mervyn Davies. [ Irish businessman Declan Kelly teams up with Beckham and Neville to buy Salford City Football Club Opens in new window ] Another Wrexham? Since the Welsh club's Hollywood takeover by Ryan Reynolds and Rob McElhenney, Wrexham have secured three successive promotions and have landed in the Championship with their gaze fixed on the Premier League. On their return to the EFL, in League Two, they generated astonishing revenues of nearly €32 million. With Kelly, Salford are about to launch their own moon shot. This is not 'a vanity project', he said. Whatever people thought about him, he has always meant business. The next chapter will be fascinating.
Zawya
25-05-2025
- Business
- Zawya
Teneo appoints Abdulmajeed Y. Alshamekh as a Managing Director in Riyadh, Saudi Arabia
Riyadh – Teneo, the global CEO advisory firm, today announced the appointment of Abdulmajeed Y. Alshamekh as a Managing Director in the firm's Riyadh office. Abdulmajeed is a seasoned investment and strategy executive with deep expertise in public-private partnerships (PPP), Build-Operate-Transfer (BOT) structuring, large-scale investment transactions and government advisory across the region. At Teneo, Abdulmajeed will work across multiple business lines, both in Saudi Arabia and the wider region. His experience will be particularly invaluable to Teneo's new Capital Projects & Infrastructure team in their PPP and private finance initiative implementation engagements. Teneo has been operating in the Kingdom of Saudi Arabia for over ten years and continues to accelerate the build out of its team, service offering and client base across the country. Prior to joining Teneo, Abdulmajeed served as Investment Portfolio Director at the Saudi Ministry of Sport, where he led high-impact PPP and real estate initiatives. Earlier in his public sector career, Abdulmajeed played a key role at the Saudi Ministry of Municipal and Rural Affairs, leading several major PPP transactions. He has advised several central government bodies while serving as a Deputy Minister advisor at the Ministry of Economy and Planning. His committee engagements include the National Incentives Committee, the FDI Committee, the LUCID Purchase Agreement Committee and the RCRC Trade Balance Committee. Abdulmajeed also worked in the Vision2030 Office at the Saudi Ministry of Commerce, where he supported the Minister of Commerce as an advisory board member and oversaw key PMO tasks tied to Vision 2030 initiatives. Prior to his government experience, Abdulmajeed advised on M&A transactions valued at SAR 1.4 billion with AlKhair Capital and co-managed three mutual funds on TASI as a financial analyst and assistant fund manager at Saudi Kuwaiti Finance House. Nick McDonagh, Senior Managing Director and Teneo's regional leader in the Middle East, said: 'We are delighted to welcome Abdulmajeed to Teneo. His experience across government, investment, sports and infrastructure significantly strengthens our range of capabilities and senior team in the Kingdom. We expect Abdulmajeed to play a major role in Teneo's continued support of clients navigating one of the world's most ambitious and dynamic economic transformations.' Matthew Wilde, Co-CEO of Teneo's Middle East Financial Advisory business, added: 'Abdulmajeed's appointment reflects our ongoing commitment to investing in talent that aligns with our clients' evolving needs. His unique leadership and market insight will be instrumental in helping clients deliver on complex mandates and achieve strategic impact under Vision 2030 and beyond.' Abdulmajeed Alshamekh said: "I'm very excited to join Teneo and to continue to help tell Saudi Arabia's story. We have a great opportunity to grow our multi-disciplinary advisory offering on the ground in the Kingdom – from strategic and financial communications to financial advisory, investment structuring and management consulting. The calibre of Teneo's team, their culture and their unique platform means the firm is perfectly placed to accelerate the ambitions of its clients in Saudi Arabia and beyond.' About Teneo Teneo is the global CEO advisory firm. We partner with our clients globally to do great things for a better future. Drawing upon our global team and expansive network of senior advisors, we provide advisory services across our five business segments on a stand-alone or fully integrated basis to help our clients solve complex business challenges. Our clients include a significant number of the Fortune 100 and FTSE 100, as well as other corporations, financial institutions and organizations. Our full range of advisory services includes strategic communications, investor relations, financial transactions and restructuring, management consulting, physical and cyber risk, organizational design, board and executive search, geopolitics and government affairs, corporate governance and ESG. The firm has more than 1,600 employees located in 40+ offices around the world.
Bloomberg
20-05-2025
- Business
- Bloomberg
Teneo's Kajiwara on C-Suite Sentiment Amid Tariff Tensions
Bloomberg Markets: The Close Kevin Kajiwara, Teneo co-president of political risk advisory, discusses the state of CEO sentiment amid recent tariff tensions on "Bloomberg The Close." (Source: Bloomberg)
Glasgow Times
20-05-2025
- Business
- Glasgow Times
More than 20 Glasgow Poundland stores at risk of closure
Retail advisory firm Teneo is overseeing the sale process after Poundland's parent company, Pepco Group, confirmed it is reviewing "all strategic options" for the brand. The announcement follows earlier reports in March that the company was seeking potential buyers. READ MORE: Legendary artist to play Glasgow as 2-for-1 tickets go on sale Poundland currently operates around 825 stores and employs over 160,000 people. With bids for the chain expected to come in this week, the future of many stores, including those in key Glasgow locations, is hanging in the balance. Among the local stores potentially affected are branches on Argyle Street, Sauchiehall Street, Crown Street, Dumbarton Road, and the Fort Shopping Centre, among others. READ MORE: Extra flights from Glasgow Airport to Rome announced for Six Nations clash Pepco Group is also due to release its half-year financial results on Thursday, May 22, which could shed more light on the retailer's outlook. Once famous for its strict £1 pricing model, Poundland has gradually expanded into multi-price ranges to combat rising costs and growing competition from supermarkets and rival high street retailers. The uncertainty adds to growing concerns over the future of the UK's high street, with shoppers and staff alike bracing for what could be another major retail shake-up. READ MORE: Festive favourite coming to Glasgow in live concert experience Full list of the Poundlands at risk:
Miami Herald
13-05-2025
- Politics
- Miami Herald
Marcos-Duterte feud spurs surprise gains by ‘third force' in Philippine vote
Two liberal Philippine politicians have emerged as key players after a surprisingly strong performance in Senate elections, gaining support from a bloc of voters dissatisfied with rancor between President Ferdinand Marcos Jr. and his deputy Sara Duterte. After trailing in surveys and losing in previous elections, Bam Aquino and Francis Pangilinan are unexpectedly returning to the Senate following Monday's midterm elections. Aquino, the relative of two former presidents, won the second-most votes of candidates competing for 12 Senate seats and led the count in the vote-rich metropolitan Manila, according to GMA News. Pangilinan came in fifth. "They sneaked in, showed they still have a strong base that they have been able to maintain the constituency that supported the anti-Marcos, anti-Duterte vote in 2022," Bob Herrera-Lim, managing director of risk consultancy Teneo, told Bloomberg Television on Tuesday. While Marcos and Duterte teamed up to win the 2022 elections, their alliance has dramatically collapsed. The vice president remains furious that Marcos handed over her father, ex-President Rodrigo Duterte, to the International Criminal Court to face charges over alleged crimes against humanity. Sara Duterte herself was impeached by Marcos allies over the alleged misuse of funds and a threat to assassinate Marcos, which she denies. While the midterms boosted the Dutertes, some voters appeared turned off by the two feuding leaders. That helped Aquino and Pangilinan, who avoided the Duterte-Marcos row and focused on livelihood issues such as food, education and jobs. Progressive political group Akbayan, which includes Marcos-Duterte critic, Senator Risa Hontiveros, was the surprise leader in the party-list elections for the House of Representatives. A party-list led by former Senator Leila de Lima, who was detained during Duterte's term, is also poised for a seat in Congress. Opposition figure and former Vice President Leni Robredo won as mayor in her bailiwick. Aquino and Pangilinan may have also won the support of younger voters, according to Francisco Magno, director of the De La Salle University Institute of Governance in Manila. Some 60% of voters are composed of millennials and Gen Zs. The Marcos and Duterte camps both have to contend with the stronger-than-expected performance by liberals and progressives in the midterms, especially as the families seek to stay in power through the 2028 presidential elections, Teneo's Herrera-Lim said. "They now have to start thinking about the middle vote," he said. "You have a third force, and it's not going to be just Marcos versus Duterte going forward." ------- -With assistance from Cecilia Yap and Cliff Venzon. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
