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Former British Prime Minister Rishi Sunakko has returned to his old profession. American multinational bank Goldman Sachs Group has appointed him as its senior advisor. He has previously worked at Goldman in various positions.
Amidst the current growing geopolitical and regulatory uncertainty, banks have started bringing in experienced policy makers into their teams . Meanwhile, Goldman has brought Sunak back.
Sunak was the Prime Minister of Britain from October 2022 to July 2024. He is of Indian origin and has rejoined Goldman after two decades at Wall Street Bank. He is expected to advise the bank's global clients on financial matters .
Goldman Sachs CEO David Solomon said in a statement that Sunak will advise clients around the world on a variety of important topics, sharing his unique perspective and perspective based on the macroeconomic and geopolitical landscape.
Sunak's move highlights an old trend of former government officials entering the financial sector, Reuters reported. Former UK Chancellor of the Exchequer (Minister of Finance) George Osborne and Sajid Javid were also involved in the financial sector. Osborne joined BlackRock as a consultant, while Javid became a partner at investment firm Centricus.
Sunak resigned as prime minister and leader of the Conservative Party last year after losing to Keir Starmer's Labor Party. He is currently the MP for Richmond and Northallerton.
