Rishi Sunak will donate Goldman Sachs salary to charity
Former Prime Minister Rishi Sunak has rejoined Goldman Sachs as a senior adviser, adding to post-government roles he holds while still sitting as an MP, though his salary from the investment banking giant will be donated to a maths charity.
Sunak worked at Goldman Sachs as a summer intern in 2000 and as an analyst between 2001 and 2004, which was his first full-time job.
He moved into politics in 2015, going on to serve as Chancellor during the Covid-19 pandemic and as Prime Minister after Liz Truss before Labour went on to win last year’s election.
Since taking a seat on the backbenches, Sunak has taken on a role as a scholar at the Blavatnik School of Government at Oxford University and as a fellow at the Hoover Institute at Stanford University.
His return to the Wall Street bank will allow him to provide expertise and insight to Goldman Sachs on macroeconomic issues.
In a statement published on Tuesday, Goldman Sachs chief executive David Solomon said: “I am excited to welcome Rishi back to Goldman Sachs in his new capacity.
“In his role, he will work with leaders across the firm to advise our clients globally on a range of important topics, sharing his unique perspectives and insights on the macroeconomic and geopolitical landscape
“He will also spend time with our people around the world, contributing to our culture of ongoing learning and development.”
Sunak versus his predecessors
His appointment follows confirmation that Lord David Cameron would join London law firm DLA Piper as a consultant.
Cameron’s role would come five years after he was implicated in the Greensill Scandal that showed he lobbied government officials on behalf of the financial services company.
The controversial firm loaned cash unable to be repaid and drew links to a group of companies controlled by Sanjeev Gupta which became the subject of investigations by the Serious Fraud Office.
Other former heads of government have gone on to do work outside of finance.
After leaving Downing Street, Theresa May remained a backbench MP and focussed on work around modern slavery and in global affairs at Yale University.
Liz Truss, who lost her seat at the last election, has faced scrutiny over her promotion of a bare-knuckle fighter’s business and pledge to create a free speech social network, though she has forged relationships with people in the Make America Great Again movement that has boosted Donald Trump’s popularity.
Sunak’s earnings from Goldman will be donated to the Richmond Project, a charity he and his wife created to improve numeracy skills in the UK, according to the Financial Times.