From PM to Private Sector: Sunak’s Goldman Sachs Advisory Role with Philanthropic Twist

Former Prime Minister Rishi Sunak is stepping into a new professional chapter, taking on a senior advisory role with the investment banking behemoth Goldman Sachs. This appointment sees Sunak returning to his financial origins, as he previously worked for the firm. He will be providing his expert insights on global economic and geopolitical landscapes to the bank’s diverse clientele.
A crucial condition of this appointment is a one-year restriction on Sunak’s ability to lobby the government for Goldman Sachs, a standard measure for former high-ranking officials. In a notable philanthropic commitment, all earnings from this advisory role will be directed towards the Richmond Project, a charity he established with the mission of enhancing numeracy skills across the population.
The Advisory Committee on Business Appointments (Acoba) provided its clearance for the role, imposing customary conditions, including a two-year prohibition on lobbying since his ministerial departure in July 2024. Acoba did highlight a potential perceived risk due to Sunak’s previous involvement with the “Edinburgh reforms,” which were advantageous to banks, but also underscored his minimal personal hand in their drafting.
David Solomon, the CEO of Goldman Sachs, conveyed his anticipation for Sunak’s return. Since stepping down as Prime Minister, Sunak has largely avoided the political spotlight, instead taking on academic positions at Oxford and Stanford. His substantial personal wealth, shared with his wife Akshata Murty and estimated at £640 million, remains a topic of public discourse.