\"Declan

Declan Kelly, former US Economic Envoy to Northern Ireland

Major US Irish business deal announced: Allen and Company, Teneo and Merrion Capital form partnership

\"Declan

Declan Kelly, former US Economic Envoy to Northern Ireland

Teneo Holdings, the New York based consulting and merchant banking business owned by senior Clinton advisor Doug Band and former US Envoy Declan Kelly, has agreed to partner with Irish based corporate finance and stockbroking company Merrion Capital, an affiliate of the US boutique investment bank, Allen & Company Inc.

The full terms of the deal were not disclosed, but it is known that Teneo’s banking subsidiary, Teneo Capital, run by former Morgan Stanley M&A Asia and Latin America head Harry van Dyke, will purchase a minority position in Merrion, and Merrion will purchase an equivalent stake in Teneo Capital.

Allen & Co., a long time shareholder in Merrion, will continue to hold a strategic stake in the Irish company, and will now hold a strategic interest in Teneo Capital.

Merrion, headed by John Conroy, is one of the last remaining independent advisory firms in the Irish market. The company is known to be active as an advisor on a number of matters in Ireland resulting from the Irish fiscal debt crisis.

Teneo, which operates out of offices in London, New York, Toronto and Washington DC, recently indicated its intentions to further expand by opening an office in Dublin. The company's advisory board is chaired by US President Bill Clinton and includes former British Prime Minister Tony Blair.

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