J.P. Morgan has not offered Boris Johnson a lucrative post-premiership speaking deal, despite rumours to the contrary.
It was reported in The Telegraph on Monday that Johnson had been offered £2m to give six speeches at J.P. Morgan events.
However, sources at the US investment bank have told City A.M. that Johnson has not been courted for any speaking engagements and that it is unlikely he will ever receive an offer.
It has been speculated that Johnson will not receive a warm welcome from some City institutions post-premiership, after being forced out under a cloud of repeated scandals.
J.P. Morgan’s chief executive Jamie Dimon is also a staunch critic of Brexit and said last year that leaving the EU “cannot possibly be a positive” for the UK.
It is understood that Johnson wants to make millions of pounds in his first year out of office through speaking and writing engagements.
Persistent rumours suggest the former Prime Minister has had financial issues over the past three years, which have been exacerbated by the arrival of two new children with his wife Carrie.
The international speaking circuit has often been lucrative for former world leaders, with Theresa May making more than £1m between 2019 and 2021 for her efforts.
J.P. Morgan pays some former leaders on a regular basis to be a part of its International Council, which involves speaking engagements and advisory roles for the multinational firm.
The chair of the council is Sir Tony Blair, who is said to earn millions of pounds a year for the role.
A spokesperson for J.P. Morgan declined to comment.