Former prime minister Rishi Sunak has been appointed as a senior adviser to Goldman Sachs, marking his return to the investment bank after 21 years. The role represents his first major position since stepping down as Conservative Party leader following the party's general election defeat last year.
Sunak, who served as prime minister between October 2022 and July 2024, will advise leaders across the firm and provide "insights on the macroeconomic and geopolitical landscape". The MP for Richmond and Northallerton previously worked for Goldman Sachs between 2001 and 2004.
Return to Wall Street
The appointment comes just over a year since Sunak's resignation as prime minister, allowing him to take on the advisory position. However, the Advisory Committee on Business Appointments (ACOBA), which regulates business appointments of sitting MPs, has imposed restrictions on his activities.
ACOBA said Sunak cannot lobby the Government or use ministerial contacts to influence policy or secure business advantage for another year. The committee also restricted him from advising on matters linked to foreign governments or sovereign wealth funds for the same period.
Goldman's Global Strategy
Chairman and chief executive David Solomon welcomed the appointment, saying he was "excited to welcome Rishi back to Goldman Sachs in his new capacity as a senior advisor". Solomon said Sunak would work with leaders across the firm to advise clients globally on important topics.
"He will also spend time with our people around the world, contributing to our culture of ongoing learning and development," Solomon added. The role will see Sunak sharing his perspectives on macroeconomic and geopolitical developments with the bank's international client base.
Academic Appointments
Earlier this year, the former prime minister also took up posts with the University of Oxford and Stanford University. These appointments demonstrate Sunak's move into advisory and academic roles following his departure from frontline politics.
(PA/London) Note: This article has been edited with the help of Artificial Intelligence.
