Sunak’s Advisory Role at Goldman Sachs: Public Service Through Private Earnings

The former Conservative Prime Minister, Rishi Sunak, is taking on a new advisory role with the global investment bank Goldman Sachs. This marks a return to his financial sector origins for Sunak, who previously worked for the firm. His responsibilities will involve providing advice to Goldman Sachs clients on a range of economic and geopolitical issues.
To mitigate concerns about potential conflicts of interest, Sunak will be prohibited from lobbying the government on behalf of Goldman Sachs for a full year. Furthermore, in a move designed to emphasize public service over personal gain, he will be donating his entire salary from this new role to his own charity, the Richmond Project, which focuses on improving numeracy.
The Advisory Committee on Business Appointments (Acoba) reviewed and approved the appointment, setting standard conditions, including a two-year ban on lobbying from the date he left ministerial office in July 2024. Acoba did identify a potential risk related to Sunak’s previous oversight of the “Edinburgh reforms,” which benefited financial institutions, but acknowledged his limited direct involvement in their development.
Goldman Sachs’ chief executive, David Solomon, voiced his pleasure at Sunak’s return to the bank. Since concluding his premiership last year, Sunak has maintained a low public profile, pursuing academic engagements at Oxford and Stanford. His considerable net worth, shared with his wife Akshata Murty and estimated at £640 million, also continues to draw attention.