Rishi Sunak, the former Conservative Prime Minister, is stepping into a new professional capacity as a senior advisor to Goldman Sachs, the influential investment bank. This role represents a full circle moment for Sunak, who began his career at the very same institution. He is set to offer his expertise on global economic and geopolitical landscapes to the bank’s diverse clientele.
A crucial aspect of this appointment is the one-year embargo on Sunak lobbying the government for Goldman Sachs, a standard measure for former high-ranking officials. In a notable philanthropic commitment, all earnings from this advisory role will be directed towards the Richmond Project, a charity he established with the mission of enhancing numeracy skills across the population.
The Advisory Committee on Business Appointments (Acoba) provided its clearance for the role, imposing customary conditions, including a two-year prohibition on lobbying since his ministerial departure in July 2024. Acoba did highlight a potential perceived risk due to Sunak’s previous involvement with the “Edinburgh reforms,” which were advantageous to banks, but also underscored his minimal personal hand in their drafting.
David Solomon, the CEO of Goldman Sachs, conveyed his anticipation for Sunak’s return. Since stepping down as Prime Minister, Sunak has largely avoided the political spotlight, instead taking on academic positions at Oxford and Stanford. His substantial personal wealth, shared with his wife Akshata Murty and estimated at £640 million, remains a topic of public discourse.