Former UK Prime Minister Rishi Sunak has taken up a new role as a senior advisor at global investment bank Goldman Sachs, the company has announced.
Sunak, who stepped down as prime minister in July 2024 following a historic election defeat, will work part-time, offering strategic advice to the firm’s clients. Goldman Sachs said he would bring “unique perspectives and insights” on global politics and the economy.
Sunak remains the Conservative MP for Richmond and Northallerton in North Yorkshire.
Return to Familiar Ground
The position marks a return to familiar territory for Sunak, who began his career at Goldman Sachs as an intern in 2000 before becoming an analyst from 2001 to 2004. He later co-founded an international investment firm before entering politics in 2015.
Goldman Sachs CEO David Solomon welcomed the appointment, saying he was “excited to welcome Rishi back” and that Sunak would also support internal development:
“He will spend time with our people around the world, contributing to our culture of ongoing learning and development.”
Sunak has pledged to donate his salary from Goldman Sachs to The Richmond Project, a numeracy-focused charity he co-founded with his wife, Akshata Murty, earlier this year.
Ethics Watchdog Flags Potential Risks
The appointment was reviewed by the UK’s Advisory Committee on Business Appointments (Acoba), which oversees post-government roles for former ministers. Acoba raised concerns that the role could create a perception of unfair access to privileged information gained during Sunak’s time as prime minister.
To address this, several restrictions have been placed on Sunak’s new role:
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He may not advise Goldman Sachs clients he had dealings with during his time in office.
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He is barred from lobbying the UK government on the bank’s behalf.
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He cannot advise foreign governments or their sovereign wealth funds.
Acoba also noted Sunak’s long-standing experience in financial services, including his previous time at Goldman Sachs and roles in private equity prior to becoming an MP.
Post-Politics Career Expands
Since leaving Downing Street, Sunak has taken on several roles. In January, he joined both the Blavatnik School of Government at the University of Oxford and the Hoover Institution at Stanford University. He is not paid for either position.
He has also earned more than £500,000 from three speaking engagements since April, a common route for former prime ministers.
Sunak became a high-profile figure during the Covid-19 pandemic while serving as Chancellor under Boris Johnson. His resignation in July 2022 helped trigger the fall of Johnson’s government. He later succeeded Liz Truss in October 2022, becoming prime minister until the 2024 general election.
