Former SA treasurer Foley set to launch start-up

Kevin Foley, the former South Australian treasurer, has departed politics to launch a “strategic advice” business, possibly aligned with the Alexander Downer-founded start-up Bespoke Approach.

 

Foley, who resigned from the state government cabinet along with ex-Premier Mike Rann in October, announced this week that that he will quit his Port Adelaide seat after an 18-year stint.

 

Following nine years as deputy premier and treasurer from 2002, Foley will be banned from acting on behalf of other companies for two years.

 

However, he said that he is keen on starting his own advisory business, although the exact nature of the venture is still unclear.

 

A possible link-up with Adelaide-based consultancy Bespoke Approach has been mooted, potentially swelling the ranks of the business’ politicians-turned-entrepreneurs.

 

Bespoke was started by former federal government ministers Nick Bolkus and Alexander Downer, along with entrepreneur Ian Smith, in 2008.

 

The business offers “tailored solutions to leading Australian and international businesses on political, regulatory and strategic communications matters across a range of industries.”

 

Downer confirmed that talks had taken place with Foley over a partnership deal, while the former state treasurer told The Australian: “I’ve had a number of discussions with the people from Bespoke, as I’ve had with others.”

 

“I’ve been very pleased with the appetite for wanting myself to be of assistance.”

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