July 8 (Reuters) -
Goldman Sachs ( GS ) on Tuesday named former UK Prime
Minister Rishi Sunak its senior adviser, adding a veteran
policymaker to its roster as banks navigate rising geopolitical
and regulatory uncertainty.
For Sunak, the appointment marks a return to the bank
where he first worked as a summer intern in investment banking
in 2000 and later as an analyst between 2001 and 2004.
"In his role, he will ... advise our clients globally on
a range of important topics, sharing his unique perspectives and
insights on the macroeconomic and geopolitical landscape,"
Goldman CEO David Solomon said in a statement.
The move underscores a well-established career
trajectory in which former government officials often transition
to finance, where their policy background and global network are
seen as strategic assets.
Former Chancellors of the Exchequer George Osborne and
Sajid Javid also moved into the industry, with Osborne joining
BlackRock as an adviser and Javid becoming a partner at
investment firm Centricus.
Currently, banks are placing even greater value on such
experience as they seek to guide clients through an increasingly
complex geopolitical landscape.
Sunak was the UK's prime minister between October 2022 and
July 2024, and Chancellor of the Exchequer from February 2020 to
July 2022.
He resigned as prime minister and Conservative Party
leader last year after a heavy loss to Keir Starmer's Labour
Party. He is currently the MP for Richmond and Northallerton.