Is Blair off to Join $30BN World Elite?

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Is Blair off to Join $30BN World Elite?

Tue, 23 Aug 2005 14:15:10 -0700

 

 

Is Blair off to Join $30BN World Elite?

By Rupert Hamer

The Sunday Mirror UK

 

Sunday 21 August 2005

 

He's eyeing up £250K job with arms trade link firm.

 

Tony Blair is expected to join one of the most exclusive groups of

businessmen in the world after he leaves Downing Street.

 

The PM is being lined up for a highly lucrative position with the

Carlyle Group - an American-based investment giant with strong links

to the White House and the defense industry.

 

The firm has been nicknamed " The Ex-Presidents Club " because it

has had a host of former world leaders on its books including George

Bush Senior, his former secretary of state James Baker and former

British PM John Major. There a also a large number of former US Army

top brass.

 

Mr. Blair has been keeping quiet about his plans after his

departure from Number 10 - which could be as early as 2007 according

to some Labour insiders.

 

But sources in the City have revealed that he is " seriously

considering " a high-profile role with Carlyle - which manages

$30billion (£20million) of investments worldwide.

 

The job could net Mr. Blair up to £500,000 a year for only a few

days work a month giving speeches and making " networking " trips on

behalf of the company.

 

The move comes after it emerged that the premier's financial

affairs are in an increasingly perilous state His dream home has

crashed in value by £700,000 in just seven months and he and Cherie

have to find £13,000 a month for the mortgage.

 

The £3million loan the couple took out to buy the house in

London's Connaught Square is 17 times Mr. Blair's current salary.

 

Last night one leading City source said: " Private equity firms

don't come any more powerful than Carlyle. It would be a huge coup for

them if they could bring Tony Blair on board.

 

" But the job is likely to infuriate MPs and campaigners opposed to

Britain's role in the Iraq War because of Carlyle's strong links to

the defense industry. "

 

A senior Government source admitted: " We know that Tony is looking

at a number of options for life after Downing Street including writing

his memoirs.

 

" But taking certain jobs could present the Labour Party with a

large headache, particularly with firms investing in the US arms industry.

 

" We are trying to move links with the US and the Iraq War down the

agenda - and linking up with a firm like Carlyle could reopen all

those wounds. "

 

At one time, Carlyle's multi-million pound investors included

Saudi members of the estranged family of al-Qaeda warlord Osama bin

Laden, who have disowned him. But the family have not been involved

with the group for several years.

 

It has been criticized for using George Bush Senior to help land

business deals in the Middle East while advising the American

President on sensitive issues in the region at the same time.

 

City experts believe Mr. Blair would be ideally suited to the

investment world because he has " the charm to schmooze almost anyone " ,

according to one financier in the Square Mile.

 

The PM would have the added advantage of having met many of the

world leaders with whom Carlyle is keen to do business.

 

But friends of Mr Blair insist he is considering other

money-making options after leaving frontline politics.

 

They include a lecture tour in the United States which could net

him more than £1million and the possibility of a visiting

professorship at an American university.

 

Job.. Bush Snr. White House

 

How the Firm Has Links at the TO

 

The Carlyle Group is an American private investment firm which has

branches across the world.

 

It was named after the Carlyle Hotel in New York - although it

made its headquarters in Washington DC.

 

A range of former US leaders either work for the company or invest

in it including Frank Carlucci, President Ronald Reagan's former

Defense Secretary.

 

Former US President George Bush Senior was also involved with the

huge corporation, but he left two years ago.

 

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