Former UK PM Rishi Sunak joins Goldman Sachs: A look at his new role and responsibilities | Company Business News-OxBig News Network

Former UK Prime Minister Rishi Sunak is set to join Goldman Sachs as a senior adviser, in his first major role after resigning as Conservative party leader last year.

Sunak will be returning to the Wall Street investment bank after around 21 years. 

He spent the first few years of his career (2000-2004) in the firm, first as a summer intern and later as a junior analyst, Financial Times reported. 

What are his responsibilities?

According to the bank’s chief executive David Solomon, the ex-prime minister will work with Goldman executives to advise clients on geopolitical and economic issues. 

“I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a senior adviser,” the chief executive said in a statement. 

He will also spend time with people around the world, contributing to the company’s culture of ongoing learning and development, Solomon added. 

Sunak has earlier worked at Goldman Sachs as an intern in 2000 while still studying at the Oxford University and later joined the firm as a junior analyst after his graduation.

Worst election result in a century 

Sunak, who was the UK’s prime minister between October 2022 and July 2024 has largely avoided limelight after the Labour party’s landslide general election victory last summer.

The Tories (Conservative and Unionist party)  faced their worst election result in a century, crashing from 365 seats in 2019 to just 121 in July 2024.

Earlier this year, it was announced that Sunak has reportedly taken up posts at the prestigious University of Oxford and Stanford University. 

Despite the opportunities, he insisted on continuing serving on the backbenches for the rest of this parliament rather than quitting the House of Commons, Financial Times reported. 

Rishi Sunak and family’s net worth 

Sunak and his wife, Akshata Murty, have an accumulated wealth of about £640 million, according to the Sunday Times’s rich list, most of which comprises Murthy’s stake in her family business, Infosys. 

Sunak’s salary from Goldman will be donated to the Richmond Project, which is a charity launched by him and his wife to improve numeracy skills in the UK, the publication reported.