Rishi Sunak, the former Conservative Prime Minister, has confirmed his new role as a senior advisor to Goldman Sachs, the prominent investment bank. This marks a significant return to the financial sector for Sunak, who previously worked for the firm. He will be providing his expert insights on economic and geopolitical trends to Goldman Sachs clients.
A key condition of this appointment is a one-year ban on Sunak lobbying the government for Goldman Sachs, ensuring a clear separation from his previous public office. Demonstrating a commitment to public service, Sunak has pledged to donate his entire salary from this advisory position to the Richmond Project, a charity he founded to enhance numeracy.
The Advisory Committee on Business Appointments (Acoba) reviewed and approved the appointment, setting standard conditions, including a two-year lobbying ban from his departure from ministerial office in July 2024. While Acoba identified a potential risk related to Sunak’s previous oversight of the “Edinburgh reforms,” which benefited banks, they acknowledged his limited personal involvement in policy development.
Goldman Sachs CEO, David Solomon, welcomed Sunak back to the firm. Since leaving Downing Street, Sunak has largely kept a low profile, taking on academic roles at Oxford and Stanford. His considerable personal wealth, estimated at £640 million with his wife Akshata Murty, continues to be a topic of public discussion, particularly in light of the ongoing cost of living crisis.
