Rishi Sunak, the former British prime minister has rejoined the US investment bank, Goldman Sachs in an advisory capacity, marking his first formal return to the financial sector.
The appointment was confirmed by Goldman Sachs on 8 July. Sunak will advise the firm on global strategy, macroeconomic trends, and geopolitical developments. He joins a select group of senior external advisers to the investment bank.
Sunak began his career at Goldman Sachs in 2001 as a junior analyst and left several years later to pursue roles in hedge funds before entering politics. He rose rapidly through the UK Conservative Party, serving as chancellor during the COVID-19 pandemic and then as prime minister from October 2022 until July 2024, when he resigned following a general election defeat.
David Solomon, chief executive of Goldman Sachs, said: “We are pleased to welcome Rishi back to Goldman Sachs as a senior adviser. His experience in both finance and government, including his recent tenure as prime minister, positions him uniquely to offer valuable perspective to our firm and our clients.”
In a separate statement, Sunak said: “I’m pleased to be rejoining Goldman Sachs in this advisory capacity. It’s an opportunity to share some of the insights I’ve gained in public service and to work with a firm I’ve long respected.”
His role is expected to be part-time and non-executive, with no day-to-day operational responsibilities. Sunak sought and received approval for the post from the Advisory Committee on Business Appointments (ACOBA), which imposed standard conditions including a ban on lobbying the UK government on Goldman’s behalf and restrictions on the use of confidential information acquired in office.
The appointment places Sunak among a cohort of former political leaders who have returned to financial services. Goldman Sachs has a history of bringing in ex-government officials, including former European Commission President José Manuel Barroso and ex-US Treasury Secretary Robert Rubin.
As chancellor, Sunak was credited with steering the UK economy through the worst of the pandemic, launching furlough and loan support schemes. He also promoted initiatives to boost Britain’s fintech sector and attract investment in green finance. His critics, however, accused his government of favouring the City over broader economic reform and of failing to address deepening inequalities.
Sunak’s advisory position at Goldman Sachs is the first of what is expected to be several roles as he builds his post-political career. He remains a Member of Parliament but has not confirmed whether he will stand again.
ACOBA, in a letter published online, said: “The Committee determined this appointment was permissible under the rules, given Mr Sunak’s role will not involve contact with government and he had no official dealings with Goldman Sachs during his time in office.”
Goldman Sachs also confirmed that Sunak will donate his earnings from the role to charity. A spokesperson said his salary would go to The Richmond Project, a not-for-profit initiative he co-founded with his wife to support numeracy and education in the UK. ACOBA’s published advice letter notes this arrangement explicitly, stating that “your payment(s) from this engagement will be donated to charity, specifically The Richmond Project.”
At 44, Sunak is among the youngest former UK prime ministers to enter the private sector. His move follows that of David Cameron, who joined First Abu Dhabi Bank as vice-chairman in 2023 and previously advised Greensill Capital.
Goldman Sachs did not disclose the financial terms of Sunak’s engagement.
