Former PM Sunak Takes On Goldman Sachs Advisory Role, Funds Numeracy Charity

Rishi Sunak, the Conservative former Prime Minister, is venturing into a new professional chapter with an advisory role at the esteemed investment bank Goldman Sachs. This appointment signals a return to his roots in the financial industry, where he previously honed his skills. He will be offering his strategic guidance on global economic and geopolitical matters to the bank’s clientele.
A crucial aspect of this new engagement is the one-year restriction on Sunak’s ability to lobby the government on behalf of Goldman Sachs, a standard practice for former ministers. Furthermore, in a noteworthy philanthropic gesture, Sunak has committed to donating his entire salary from this position to the Richmond Project, a charity he established focused on promoting numeracy.
The Advisory Committee on Business Appointments (Acoba) meticulously reviewed the appointment, setting standard conditions, including a two-year ban on lobbying from his exit from ministerial office in July 2024. While Acoba acknowledged a potential perceived risk due to Sunak’s prior involvement with the “Edinburgh reforms,” which were advantageous to banks, they also underscored his minimal direct input into their drafting.
David Solomon, the chief executive of Goldman Sachs, expressed his delight at Sunak’s return. Since concluding his premiership, Sunak has maintained a relatively low public profile, pursuing academic engagements at Oxford and Stanford. His significant personal wealth, estimated at £640 million with his wife, remains a point of public discussion, especially in the context of broader economic challenges.