Rishi Sunak Returns to Goldman Sachs as Senior Advisor After Stepping Down as PM

Former UK Prime Minister Rishi Sunak has officially joined Goldman Sachs as a senior advisor, marking his return to the financial industry.

Sunak, who stepped down as prime minister in July 2024 after the Conservative Party’s significant electoral defeat, will offer part-time guidance to Goldman Sachs’ global clients.

The bank highlighted that Sunak would bring “unique perspectives and insights” on international politics and economic affairs, reflecting his recent high-profile role on the global stage.

Continuing Political Role and Financial Background

Despite his new position, Sunak remains an active Conservative MP for Richmond and Northallerton in Yorkshire.

His career has come full circle, as he initially started at Goldman Sachs in the early 2000s, first as an intern in 2000, and later as a junior analyst until 2004.

He left the bank before launching a career in politics, following a successful stint in investment management.

Goldman Sachs CEO David Solomon welcomed Sunak’s return, stating, “I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a senior adviser.”

Solomon added that Sunak would also engage with employees globally, helping strengthen the firm’s culture of continuous learning and development.

Charity Over Pay: The Richmond Project

Sunak’s earnings from his new role will not be pocketed. Instead, he will donate his salary to The Richmond Project, a charity founded by Sunak and his wife Akshata Murty earlier this year.

The initiative focuses on improving numeracy skills across the United Kingdom.

Murty, the daughter of Infosys founder Narayana Murthy, contributes significantly to the couple’s estimated £640 million fortune, largely derived from her stake in her family’s business, according to the Sunday Times Rich List.

Approval and Restrictions from ACOBA

Before taking the role, Sunak required clearance from the Advisory Committee on Business Appointments (Acoba), which reviews jobs accepted by former ministers within two years of leaving office.

Acoba flagged potential risks due to Sunak’s recent tenure as prime minister but approved the appointment with several conditions.

As part of these restrictions, Sunak is prohibited from advising other governments or their sovereign wealth funds on behalf of Goldman Sachs.

He also cannot consult with clients he directly dealt with while in office or lobby the UK government for the firm.

Political and Academic Commitments Continue

Sunak’s new advisory role is not his only post-prime ministerial engagement.

Earlier this year, he joined the Blavatnik School of Government at Oxford University and the Hoover Institution at Stanford University. Both of these academic positions are unpaid.

In addition, Sunak has earned over £500,000 since April from three paid speaking engagements. Like other former leaders, he has begun delivering high-profile talks at corporate and public events.

Despite speculation about his future, Sunak has chosen not to resign from Parliament and has expressed a desire to serve out the current term.

Under UK law, a general election is not required until mid-2029, giving him time to continue his political involvement.

Social Media Reactions and Humor

News of Sunak’s new position quickly sparked reactions online, particularly due to his father-in-law’s previous comments encouraging a 70-hour work week to boost productivity.

Many users on social media platforms responded with jokes, suggesting Sunak’s return to the corporate world was a nod to those expectations.

A meme captioned “Rishi Sunak’s first day at Goldman Sachs” showed a tired film character adjusting a tie. Others quipped about the influence of Narayana Murthy’s work ethic, with posts like “When your father-in-law forces you to work 70 hours a week” gaining traction.

From Financial Markets to Government and Back

Sunak’s journey has taken him from investment banking to national leadership and back to the corporate world.

He first made a political name for himself during his tenure as chancellor under Prime Minister Boris Johnson, particularly during the Covid-19 pandemic, where he gained recognition for implementing the furlough scheme.

His resignation in July 2022 helped trigger Johnson’s downfall, and he went on to become prime minister in October 2022.

However, after a massive defeat in the 2024 general elections, Sunak stepped down from leadership, opening the door for Labour’s Keir Starmer to take over.

Now, with his new advisory role at Goldman Sachs and ongoing contributions to public and academic life, Sunak’s post-political career is shaping up to be as high-profile as his time in government.