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Sir Jeremy Fleming, the recently departed head of GCHQ, the UK’s cyber intelligence spy agency, has been hired to chair the advisory board of UK Ventures, a group with close ties to the UK security services.
Fleming, who resigned from GCHQ in May, is the latest big hire to join the board of venture capital firm Gallos Technologies, which also counts former British government security official Sir Anthony Finkelstein among its advisers. Anthony Finkelstein and Tom Hurd.
Fleming’s appointment is another example of the revolving door between UK government staff and the private sector.
The Financial Times reported last week that former deputy prime minister Dominic Raab was working with a headhunter specializing in private equity and venture capital firms to find a role after he resigned as an MP.
Stephen Lovegrove, the former national security adviser at the Cabinet Office, most recently worked at investment bank Lazard, while Alex Younger, the former head of MI6 Joined Goldman Sachs as an advisor.
Fleming’s role at Gallows was approved by the UK government watchdog, which scrutinizes new jobs taken by former public sector workers.
Gallows, founded by Dean Jones, a veteran of the British armed forces, and Josh Burch, chief of staff to former senior national security officials, invests in and builds security technology companies.
An important component of the company’s model includes leveraging its strong network of advisors to source original investment opportunities.
“Due to our deep connections within a network of UK and US security agencies, we enjoy privileged access to exclusive deal flow and highly specialized human capital,” Gallows said in the marketing brochure.
Since its inception, the group has made small investments in companies including Belfast cyber security group Angoka and US-based Second Front Systems, which provides software to US government employees. Garros is also building companies including StirlingX, which provides “drones as a service.”
The appointment of Fleming, one of Britain’s most experienced intelligence experts, is a major win for the fledgling investment group. Fleming joined MI5 in 1993, beginning a 30-year career.
While working for the British government, he played a key role in dealing with the 2005 terrorist attacks in London and led MI5’s security efforts ahead of the 2012 London Olympics. After four years as deputy director-general of MI5 from 2013 to 2017, Fleming was appointed director of GCHQ in April 2017.
At GCHQ, he helped establish the UK’s National Cyber Security Centre, which brings companies and government together to help tackle threats. His other duties include helping the UK provide support to Ukraine following Russia’s invasion of the country in 2022.
Fleming was knighted in 2021 for his work leading GCHQ.
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