Scandalous Noble Appointment

CSM EDITORIAL

What could possibly be wrong with the following bio of a woman just elected to the Court of the Bank of England?

Ms. Diana Noble has been the Executive Director at CDC Group plc since November 2011. She served as Chief Executive Officer at the firm till June 2017. She serves as an Advisor at Level Business and to Manchester Square Partners. Ms. Noble serves as an Advisor to the Clinton Foundation Health Access Initiative. She was a Partner at Permira Advisers Ltd. for 12 years, from 988 to 1999, investing in a wide range of sectors, stages and geographies. Ms. Noble served as an Executive Vice President at Clinton Health Access Initiative, where she served for five years. She joined the Clinton Foundation’s HIV/AIDS Initiative in 2005 as Executive Vice President of Operations (with responsibility for 43 countries and five global teams and oversaw the scale-up of a global programme to give children equal access to HIV/AIDS care and treatment to that available to adults. She served as its Executive Vice President of Global Teams and also served as its Special Advisor. She served at William J. Clinton Foundation. Ms. Noble served as the Founding Managing Director at Reed Elsevier Ventures. Her background is in private equity, venture capital and international development. She joined Schroder Ventures (now Permira) in 1987. She served as Founder and Chief Executive Officer at eVentures since 1999. Ms. Noble serves as an Advisor to the Supervisory Board of Actis LLP. She is a Non-Executive Director of Business Growth Fund plc since she joined in July 2016. She holds an M.S.C. from Oxford, a first-class Law Degree from London University and attended the Advanced Management Program at Harvard Business School.

Let’s spell it out for you:

She was CEO of CDC Group plc between 2011 and 2017, and Executive Vice President of the Clinton Foundation’s Health Access Initiative.

CDC Group PLC has been an unmitigated disaster:

CDC was the subject of extensive investigations by the magazine Private Eye, which devoted seven pages to criticising the organisation in September 2010. Amongst other allegations, it claimed that CDC had moved away from financing beneficial international development towards seeking large profits from schemes that enriched CDC’s managers while bringing little or no benefit to the poor; and that when Actis was spun out it was given an “implausibly low valuation”. The Actis deal was also the subject of criticism by British politicians.

Meanwhile, as we have pointed out in the pages of Country Squire Magazine just recently in an open letter to Penny Mordaunt, the Minister for International Development:

Again the tide is on your side, because one of the great villains of DfID corruption and misuse of hundreds of millions of pounds of taxpayer money, happens to be the Clinton Foundation and Clinton Health Access Initiative (CHAI) – now under the gun from both the Australian and US Governments.

As our Secretary of State for International Development you need to bring the full authority of your office to investigate the funds that have been granted by the United Kingdom since 2002 to the Clinton Foundation and its associates.

Extensive investigations in the United States have found that the Clinton Foundation was never authorised to undertake any activity beyond building and operating the William J. Clinton Presidential Library and Centre in Little Rock, Arkansas. That all of their activities and those of the Clinton HIV/AIDS Initiative, Clinton Health Access Initiative (CHAI), Clinton Global Initiative et al were illegal.

That Clinton CHAI entered into deals with Indian drug markers Ranbaxy and Cipla to produce substandard HIV/AIDS drugs, these were provided via CHAI and the Global Fund for AIDS, TB & Malaria to sub-Saharan nations with funding partially given by DfID. Although the Clintons argue that CHAI is not part of the Clinton Foundation and independent of them, the reality is that DfID donated to CHAI pre-2010 when it was part of the Clinton Foundation. Also, what about all the stolen IPR from British drugs companies?

We propose that you as Secretary of State form an independent commission to fully investigate the Clinton Foundation and, based on the results, sue the Clinton Foundation to have UK taxpayers’ monies returned to DfID. By doing this you will have finally addressed the root causes of foreign aid and development corruption.  This action will draw a bright red line for DfID’s future, while serving notice on all other bad actors that the decades of graft are over.

Let’s face it. On paper Ms Noble looks like the female version of Mark Malloch-Brown.

What on earth is the Bank of England thinking going anywhere near her?

If Charlotte Hogg’s case was a stinker and led to her resignation, the appointment of Noble is a veritable WMD gone off in Threadneedle Street.

Ask her where our money went and then send her packing.

Drop kick her out of the City and into the Thames and don’t let her touch a damn thing on the way out.

 

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