Ryan McCarthy left his role as secretary of the Army on January 20, 2021. As the military branch’s most senior civilian official, McCarthy had “statutory responsibilities for all matters relating to the U.S. Army, to include the recruitment, organization, training, equipping, and care of 1.4 million active duty, National Guard, Reserve Soldiers, Department of the Army Civilians and their Families,” according to his Department of Defense profile.
In June 2021, McCarthy joined as managing director at Pallas Ventures, the investment arm of Pallas Advisors. Pallas Advisors is a national security advising firm founded in 2018 by former Senior Advisor to the Secretary of Defense Sally Donnelly and former Deputy Chief of Staff to the Secretary of Defense Anthony “Tony” DeMartino. Pallas Ventures “brings to bear invaluable experience at the highest levels of government and the U.S. military, offering the entrepreneurs we partner with a wealth of resources at a critical stage in the life of their companies,” according to its homepage.
“[McCarthy’s] leadership experience at the highest levels of government and the private sector will be immensely valuable as we continue to expand our portfolio and support our companies in accelerating the government’s adaptation of innovative technologies,” said Pallas Ventures managing director (and former Secretary of the Navy) Richard V. Spencer.
In September 2021, McCarthy also joined the board of advisors at Millennium Corporation, a strategic management, cybersecurity, and IT consulting firm. “Our team is incredibly grateful for the opportunity to add The 24th Secretary of the U.S. Army Ryan McCarthy to our Board of Advisors. His leadership and insight will be essential in driving our continued focus on how best to serve our customers and our country,” Millennium chief operating officer Traviss Green said in a press statement. In fiscal year 2020, Millennium Corporation received nearly $7.5 million in contracts from the U.S. Army.
McCarthy did not respond to POGO requests for comment.
[McCarthy’s] leadership experience at the highest levels of government and the private sector will be immensely valuable as we continue to expand our portfolio and support our companies in accelerating the government’s adaptation of innovative technologies,” said Pallas Ventures Managing Director Richard V. Spencer."