Former British Prime Minister Rishi Sunak returns to Goldman Sachs

Former British Prime Minister Rishi Sunak will rejoin Goldman Sachs as a senior adviser, and the bank announced Tuesday that it will be a year after his Conservative Party suffered major election losses.

David Solomon, Chairman and CEO of Goldman Sachs statement.

He added: “In his role, he will work with leaders across the company to advise on a range of important topics around the world, sharing his unique perspectives and insights on the macroeconomic and geopolitical landscape.”

Sunak’s salary from Goldman Sachs will be donated to his charity, Richmond Project, which aims to improve computing power.

This would not be Sunak’s first job at the bank, where he interned and then worked as an analyst in the early 2000s. The former prime minister then worked elsewhere in the financial sector before becoming a member of Congress in 2015.

Before becoming British Prime Minister, Sunak held various senior political positions, including the country’s finance minister or prime minister.

Today, despite resigning as Conservative leader after the 2024 election, Sunak remains a member of the British Parliament. The result is considered Devastating for conservativestheir seats have shrunk sharply after 14 years in power.

Sunak initially asked for approval to join Goldman Sachs in May, but the government appoints regulators, documents show Acoba Said he had to wait for a year in ministerial role to take the position in the bank.

Watchdog noted that the position had various risks, including that he could advise on topics that “overlapping” with his government responsibilities, and that his “can see his appointments provide unfair access and influence within the UK government”.

As a result, Sunak’s scope in his new role was limited for another year, and Acoba restricted it to “providing suggestions on strategic, macroeconomic and geopolitical affairs that do not conflict with your time as prime minister”.