Rishi Sunak, the former UK prime minister, has been appointed as a senior adviser to Goldman Sachs, returning to the US investment bank where he began his career over two decades ago.

He will hold the advisory role while continuing to serve as Conservative MP for Richmond and Northallerton.

Sunak will advise Goldman Sachs clients on economic and geopolitical issues, drawing on his experience in government and financial services. According to the bank, he will also contribute to internal learning and development initiatives.

David Solomon, chairman and chief executive of Goldman Sachs, confirmed the appointment, stating: “I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a senior adviser.”

Sunak previously worked at Goldman Sachs as an analyst from 2001 to 2004, after joining initially as a summer intern. He later co-founded an international investment firm before entering politics in 2015. He held several ministerial posts including chancellor of the exchequer before becoming prime minister in October 2022. He stepped down in July 2024 following the Conservative Party’s historic electoral defeat.

His new appointment has been approved by the Advisory Committee on Business Appointments (Acoba), which regulates post-government employment for former ministers. Acoba imposed restrictions to prevent Sunak from lobbying the UK government on behalf of Goldman Sachs for two years following his departure from office.

Acoba noted potential risks linked to Sunak’s involvement in the financial services sector, including his oversight of the Edinburgh reforms, which benefited firms such as Goldman Sachs. However, the committee found he had not been directly involved in drafting the policy and had only met Solomon once in a group setting.

The bank stated that Sunak’s role would not involve lobbying or the use of privileged information from his time in office, nor would he advise clients he interacted with during his premiership. He will also be prohibited from advising other governments or their sovereign wealth funds on Goldman Sachs’ behalf.

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