Disgraced former UK Defence Secretary Sir Michael Fallon has decided to take a £75,000-a-year job advising a firm with large investments Saudi Arabia, despite the alleged brutal killing of journalist Jamal Khashoggi.
The Tory MP declared in the new register of MPs’ interests that he will work eight hours a month, BuzzFeed News reported. MP for Sevenoaks, Fallon has taken on the role despite widespread international condemnation for the Kingdom following the murder of journalist Jamal Khashoggi.
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Following the news, Fallon was condemned on Twitter, with Stewart McDonald MP posting: “This stinks to high heaven,” while Labour-supporting accounts attacked the MP and his party by extension.
Based in Bahrain, Investcorp boasts on its website of its “unique placement capability in the Gulf.” The firm which, has offices in London, New York, Singapore, Abu Dhabi, and Doha as well as Riyadh, has reportedly arranged investments with a combined value of $55 billion.
Investcorp will have two representatives at Saudi’s beleaguered Future Investment Initiative, due to start in Riyadh, Tuesday. Following Khashoggi’s disappearance, the event has seen a plethora of companies and governments pull out, including Fallon’s colleague, Trade Secretary Liam Fox.
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Following Fallon’s hiring, Mohammed Alardhi, executive chairman of Investcorp, said: “We are delighted to add Sir Michael to our International Advisory Board. His business expertise and experience in both the private and public sector will be invaluable to continuing our growth trajectory.”
Alardhi has been consistent in his praise of Saudi Crown Prince Mohammed bin Salman, hailing the firm’s “deep roots” in the Kingdom.
Upon his appointment, the ex-UK defence chief hailed the firm as a “leader in the global alternative investment sector,” stating: “I believe that its commitment to expanding its global footprint and broadening its product offering will catalyze future growth,” as quoted on Investcorp’s website.
During his time as defence secretary, which ended after allegations of inappropriate behavior toward women, Fallon was condemned after stating “criticism of Saudi Arabia in this Parliament is not helpful. I’ll leave it there.”
The advisory board is a who’s who of establishment politicians. Among the other advisory board members are former Chancellor of Austria, Wolfgang Schüssel, ex-German ambassador to the US Wolfgang Ischinger, former Spanish Foreign Minister Ana de Palacio, among others.
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