David Cameron has gained his first big private sector job since stepping down as Prime Minister after being on the losing side of the Brexit referendum last June, with a US payments technology firm.
Cameron will assist with business development as well as joining the international advisory board of First Data, a New York Stock Exchange-listed firm which claims to process $2.2 trillion in transactions per year.
The role will be paid and part-time as a “consultant and brand ambassador”, according to the Advisory Committee on Business Appointments (Acoba).
The job will not involve contact with the government, Cameron told Acoba. While Cameron is no longer obliged to register his interests, having not remained in the House of Commons or joined the Lords, Acoba is still responsible for vetting politicians’ and civil servants’ jobs for a limited time after they have left office.
Frank Bisignano, chairman and chief executive of the firm, described Cameron as “one of the world’s most well-regarded leaders”, saying the company is “truly honored to have him join First Data”.
Cameron has taken up other roles since resigning on the day after the Brexit vote, including becoming president of Alzheimer’s Research UK and chairman of the National Citizen Service Patrons and LSE-Oxford Commission on Growth in Fragile States.
He is also a member of the global board of advisers at the Council on Foreign Relations think tank, while receiving reported fees of as much as £120,000 per hour, according to the Daily Mail.
Cameron said: “I am incredibly proud that during my time as Prime Minister, the United Kingdom became a global force in fintech.”
“I remain passionate about the opportunities that exist for British and international companies that are developing exciting technologies both for businesses and consumers – technologies that have the potential to revolutionise the way we all live our lives.”
The new job is the first in the footsteps of his former colleague George Osborne. Osborne, the former chancellor, has taken on multiple private sector appointments since being sacked from the Treasury, including a £650,000 per year part-time role at investment giant Blackrock, as well as becoming editor of the Evening Standard newspaper.
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