According to CNBC, Rishi Sunak will donate his earnings from Goldman Sachs to his charity, The Richmond Project, which focuses on improving numeracy skills.
Former U.K. Prime Minister Rishi Sunak is set to rejoin global investment bank Goldman Sachs as a senior adviser, the firm announced Tuesday, marking a return to his financial roots just a year after his Conservative Party suffered a crushing election defeat.
The chairman and CEO of Goldman Sachs, David Solomon, said in a statement.
“I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a Senior Advisor.
“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 added.
According to CNBC, Rishi Sunak will donate his earnings from Goldman Sachs to his charity, The Richmond Project, which focuses on improving numeracy skills.
This marks a return to familiar ground for the former UK Prime Minister, who interned and later worked as an analyst at Goldman Sachs in the early 2000s.
Meanwhile, after leaving the bank, he held other roles in the financial sector before entering politics as a Member of Parliament in 2015.
Before leading the country, Sunak served in several high-level political roles, including Chancellor of the Exchequer.
Although he stepped down as Conservative Party leader following the party’s heavy defeat in the 2024 general election, he continues to serve as an MP.
Documents reveal that Sunak sought clearance to join Goldman Sachs in May, but the Advisory Committee on Business Appointments (Acoba) ruled that he must observe a one-year waiting period from his last ministerial role before assuming the position.
Acoba raised concerns about potential conflicts of interest, warning that the appointment could be perceived as granting Goldman Sachs undue influence within government.
The committee also flagged the risk that Sunak might advise on issues overlapping with his time in office.
As a result, Sunak’s role at the bank will be limited for the next year.
He is only permitted to provide strategic advice on macroeconomic and geopolitical issues that do not intersect with his responsibilities during his time as Prime Minister.