Albright Group
Encyclopedia
The Albright Group is an international strategy consulting firm founded in 2001 by former United States Secretary of State
in the Clinton administration Madeleine Albright
and based in Washington, D.C.
The firm assists businesses and other organizations with operating internationally, including the challenges of complying with environmental regulations and climate change. Coca-Cola
and Merck
have been among the clients for such assistance. It also does research in support of foreign investment goals, and seeks to form public-private partnership
s in Western Europe, Latin America, and the Middle East. The firm attracted attention in 2006 when it operated on behalf of Dubai Ports World
during its controversial attempt to acquire business in key U.S. ports
.
Among the Albright Group's largest clients is Marsh & McLennan Companies
, whose CEO stated that "the access that Madeleine Albright gives Marsh through her global contacts is unprecedented." The firm does not consider itself a lobbying
group.
Other key founding members of the Albright Group include two other past Clinton administration figures, former EPA Administrator Carol Browner, and former State Department negotiator Wendy Sherman
. In 2008, former Foreign Minister of Germany
Joschka Fischer
joined as senior strategic counsel and former World Bank
economist and U.S. government official Harry Broadman joined as managing director. The additions were made with the goal of improving the firm's European Union
connections and trade expertise. Browner left the group when she became director of the White House Office of Energy and Climate Change Policy
in the Obama administration.
Affiliated with the Albright Group is Albright Capital Management, which was founded in 2005 to engage in private fund management. Through 2006 it managed $150 million, and then in early 2007 it was given $329 million to invest in a range of emerging markets
on behalf of the large Dutch pension fund PGGM. A PGGM portfolio manager said that Albright "sees a need for investing to create a middle class ... There was an ideological background for Secretary Albright to get involved in this." Its principals are largely those of Albright Group and include Albright, Browner, Fischer, and Sherman.
In 2009, the Albright Group merged with Stonebridge International
, a somewhat similar firm founded by former Clinton administration National Security Advisor Sandy Berger
and former United States Senator Warren Rudman
, to form the Albright Stonebridge Group
.
United States Secretary of State
The United States Secretary of State is the head of the United States Department of State, concerned with foreign affairs. The Secretary is a member of the Cabinet and the highest-ranking cabinet secretary both in line of succession and order of precedence...
in the Clinton administration Madeleine Albright
Madeleine Albright
Madeleine Korbelová Albright is the first woman to become a United States Secretary of State. She was appointed by U.S. President Bill Clinton on December 5, 1996, and was unanimously confirmed by a U.S. Senate vote of 99–0...
and based in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
The firm assists businesses and other organizations with operating internationally, including the challenges of complying with environmental regulations and climate change. Coca-Cola
Coca-Cola
Coca-Cola is a carbonated soft drink sold in stores, restaurants, and vending machines in more than 200 countries. It is produced by The Coca-Cola Company of Atlanta, Georgia, and is often referred to simply as Coke...
and Merck
Merck & Co.
Merck & Co., Inc. , also known as Merck Sharp & Dohme or MSD outside the United States and Canada, is one of the largest pharmaceutical companies in the world. The Merck headquarters is located in Whitehouse Station, New Jersey, an unincorporated area in Readington Township...
have been among the clients for such assistance. It also does research in support of foreign investment goals, and seeks to form public-private partnership
Public-private partnership
Public–private partnership describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies...
s in Western Europe, Latin America, and the Middle East. The firm attracted attention in 2006 when it operated on behalf of Dubai Ports World
Dubai Ports World
DP World is a major operator of marine ports with 49 terminals in operation and a further 9 under development across 31 countries. In 2010, DP World handled nearly 50 million TEU across its portfolio from the Americas to Asia...
during its controversial attempt to acquire business in key U.S. ports
Dubai Ports World controversy
The Dubai Ports World controversy began in February 2006 and rose to prominence as a national security debate in the United States. At issue was the sale of port management businesses in six major U.S...
.
Among the Albright Group's largest clients is Marsh & McLennan Companies
Marsh & McLennan Companies
Marsh & McLennan Companies, Inc. is a US-based global professional services and insurance brokerage firm. In 2007, it had over 57,000 employees and annual revenues of $10.49 billion. Marsh & McLennan Companies was ranked the 221st largest corporation in the United States by the 2009 Fortune 500...
, whose CEO stated that "the access that Madeleine Albright gives Marsh through her global contacts is unprecedented." The firm does not consider itself a lobbying
Lobbying
Lobbying is the act of attempting to influence decisions made by officials in the government, most often legislators or members of regulatory agencies. Lobbying is done by various people or groups, from private-sector individuals or corporations, fellow legislators or government officials, or...
group.
Other key founding members of the Albright Group include two other past Clinton administration figures, former EPA Administrator Carol Browner, and former State Department negotiator Wendy Sherman
Wendy Sherman
Wendy Ruth Sherman is a United States diplomat, government official, non-profit manager, and adviser to politicians and business. During the Clinton Administration, she served as Counselor of the United States Department of State and Special Advisor to the President and Secretary of State and...
. In 2008, former Foreign Minister of Germany
Foreign Minister of Germany
The Federal Minister for Foreign Affairs is the head of the Federal Foreign Office and a member of the Cabinet of Germany. The current office holder is Guido Westerwelle...
Joschka Fischer
Joschka Fischer
Joseph Martin "Joschka" Fischer is a German politician of the Alliance '90/The Greens. He served as Foreign Minister and Vice Chancellor of Germany in the cabinet of Gerhard Schröder from 1998 to 2005...
joined as senior strategic counsel and former World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
economist and U.S. government official Harry Broadman joined as managing director. The additions were made with the goal of improving the firm's European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
connections and trade expertise. Browner left the group when she became director of the White House Office of Energy and Climate Change Policy
White House Office of Energy and Climate Change Policy
The White House Office of Energy and Climate Change Policy is a new government entity in the United States created by President Barack Obama. Its first director is Carol Browner, who was Administrator of the Environmental Protection Agency for the eight years of the Bill Clinton administration...
in the Obama administration.
Affiliated with the Albright Group is Albright Capital Management, which was founded in 2005 to engage in private fund management. Through 2006 it managed $150 million, and then in early 2007 it was given $329 million to invest in a range of emerging markets
Emerging markets
Emerging markets are nations with social or business activity in the process of rapid growth and industrialization. Based on data from 2006, there are around 28 emerging markets in the world . The economies of China and India are considered to be the largest...
on behalf of the large Dutch pension fund PGGM. A PGGM portfolio manager said that Albright "sees a need for investing to create a middle class ... There was an ideological background for Secretary Albright to get involved in this." Its principals are largely those of Albright Group and include Albright, Browner, Fischer, and Sherman.
In 2009, the Albright Group merged with Stonebridge International
Stonebridge International
Stonebridge International is an international advisory firm that helps businesses get a foothold in emerging countries such as Brazil, the People's Republic of China, Russia and India...
, a somewhat similar firm founded by former Clinton administration National Security Advisor Sandy Berger
Sandy Berger
Samuel Richard "Sandy" Berger was United States National Security Advisor, under President Bill Clinton from 1997 to 2001. In his position, he helped to formulate the foreign policy of the Clinton Administration...
and former United States Senator Warren Rudman
Warren Rudman
Warren Bruce Rudman is an American attorney and Republican politician who served as United States Senator from New Hampshire between 1980 and 1993...
, to form the Albright Stonebridge Group
Albright Stonebridge Group
The Albright Stonebridge Group is a global strategy company led by former Secretary of State Madeleine Albrightand former National Security Advisor Samuel Berger, and former Senator Warren Rudman...
.