Former British Prime Minister Rishi Sunak has returned to the financial world by rejoining Goldman Sachs as a senior adviser, nearly a year after stepping down from his political leadership role following a major electoral defeat for the Conservative Party. This marks Sunak’s first senior position outside politics since resigning as Conservative leader in July 2024.
Sunak’s connection with Goldman Sachs dates back more than twenty years. Early in his career, he completed an internship and worked as an analyst at the investment bank before moving on to hedge funds and eventually entering Parliament in 2015. His return to Goldman Sachs represents a full-circle moment, reconnecting with the firm where his professional journey began.
“I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a Senior Advisor,” said David Solomon, chairman and chief executive officer of Goldman Sachs.
He emphasised that Sunak will collaborate with senior leaders across the firm to provide global clients with strategic advice, drawing on his extensive experience and insights into macroeconomic and geopolitical matters.
Sunak has pledged to donate his earnings from Goldman Sachs to The Richmond Project, a charity he founded that focuses on enhancing numeracy skills among young people. This philanthropic commitment shows his continued dedication to social causes despite his career shift.
Having served as chancellor of the exchequer and then as prime minister from October 2022 until July 2024, Sunak remains a Member of Parliament. His premiership ended amid a devastating Conservative defeat in the 2024 general election, which saw the party lose a substantial number of seats after 14 years in government.
The appointment was subject to review by the Advisory Committee on Business Appointments (Acoba), which enforces a mandatory one-year waiting period for former ministers before accepting new roles that might present conflicts of interest. Acoba expressed concerns that Sunak’s advisory work could overlap with his previous government responsibilities or be perceived as granting undue influence within the UK government.
As a result, Sunak’s advisory role at Goldman Sachs will be restricted for the first year to providing advice on macroeconomic and geopolitical issues that do not conflict with his former ministerial duties.
Since leaving office, Sunak has maintained a relatively low profile, taking up academic posts at Oxford and Stanford universities before accepting this position at Goldman Sachs.