Rishi Sunak returns to Wall Street to donate earnings to math charity
The Goldman Sachs Group Inc. announced this week that former UK prime minister Rishi Sunak has rejoined the firm he interned at as a Senior Advisor.
The UK’s Advisory Committee on Business Appointments released its go-ahead for the post for the Conservative Party MP for Richmond and Northallerton with conditions that “mitigate the potential risks to the government”. It also revealed that Sunak’s earnings from new job would go towards the Richmond Project, a charity announced earlier as a joint initiative with his wife Akshata Murty focussed on improving the mathematics and numeracy skills among children and young people in England.
American multinational bank Goldman Sachs Chairman and CEO David Solomon said: “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 will also spend time with our people around the world, contributing to our culture of ongoing learning and development.”
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Sunak, Britain’s first Prime Minister of Indian heritage between October 2022 and July 2024, previously served as Chancellor of the Exchequer and Chief Secretary to the Treasury. His career in politics started when he was elected Conservative MP for Richmond (Yorks) in 2015.
Before his entry into politics, Sunak spent his professional career in business and finance, having co-founded an investment firm working with companies internationally. At Goldman Sachs, he worked first as a summer intern in Investment Banking in 2000 and later as an analyst between 2001 and 2004.
He studied Politics, Philosophy and Economics at Oxford University and earned his MBA at Stanford University, where he was a Fulbright Scholar. He remains engaged with both universities, as a member of the World Leader’s Circle at the Blavatnik School of Government at Oxford and as the William C. Edwards distinguished visiting fellow at the Hoover Institution at Stanford University.
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“You and Goldman Sachs have confirmed to the committee that the role will not involve lobbying the government, which all former ministers are prevented from doing for two years on leaving office. The committee considered that it would be difficult to mitigate the risk of perceived lobbying if you initiated engagement of any kind with the UK government in this role, noting this is not your stated intention,” said the Advisory Committee on Business Appointments, which signs off on all jobs taken on by ministers and former ministers in the UK.