Former UK Prime Minister Rishi Sunak has rejoined Goldman Sachs Group Inc. as a senior adviser, bringing his extensive experience back to the Wall Street bank nearly two decades after leaving his analyst role and a year after stepping down as Prime Minister.
Rishi Sunak, who led the United Kingdom as Prime Minister from October 2022 until July 2024, has signed on as a senior adviser with Goldman Sachs. In this new capacity, he will collaborate with leaders across the New York-based financial institution to provide clients worldwide with counsel on a diverse range of subjects, including macroeconomic issues and geopolitical dynamics, according to a statement from Goldman Sachs Chief Executive Officer David Solomon.
Sunak’s political career faced challenges, including guiding the Conservative Party to a significant defeat in the last general election. Despite this setback, Sunak continues to represent the Richmond and Northallerton constituency in northern England as a Member of Parliament. He previously committed to serving as an MP for the full term of the next Parliament, irrespective of the election results. Sunak’s successor as Prime Minister, Labour’s Keir Starmer, has the prerogative to call the next general election as late as mid-2029.
Sunak’s association with Goldman Sachs traces back to his early career, when he first joined as a summer intern in investment banking in 2000. Following his internship, he worked as an analyst from 2001 to 2004. His career trajectory took a new path afterward as he co-founded an investment firm that focused on working with companies on an international scale.
Beyond his professional achievements, Sunak and his wife, Akshata Murty, are noted for their wealth, with Murty being one of the wealthiest former residents of 10 Downing Street. Murty’s significant financial stake in Infosys Ltd., a software company established by her father, has contributed to this financial standing, with her wealth estimated to be over $700 million by the Bloomberg Billionaires Index.
Goldman Sachs, often colloquially referred to as “Government Sachs” due to its many connections with prominent government officials, has a history of hiring influential figures such as Canadian Prime Minister Mark Carney, Italy’s Mario Draghi, and former US Treasury Secretaries Henry Paulson and Steve Mnuchin.
Sunak’s transition to Goldman aligns with a broader trend seen among major Wall Street firms, which are increasingly bringing on board former politicians to enhance their clients’ geopolitical advisement. In similar moves, Citigroup has enlisted Donald Trump’s former trade representative Robert Lighthizer, and investment bank Centerview Partners brought in Trump’s former chief of staff Reince Priebus.
Prior to his premiership, Sunak served as Chancellor of the Exchequer from February 2020 to July 2022. His political career began as a Member of Parliament in 2015, after holding roles such as Chief Secretary to the Treasury and Parliamentary Under-Secretary of State at the Ministry of Housing, Communities, and Local Government.
According to News India Times, Sunak’s return to Goldman Sachs as an adviser underscores his enduring influence in both financial and political spheres.