Former chancellor of the exchequer George Osborne is to join asset manager BlackRock as a senior adviser, becoming the latest in a string of politicians to enter the world of finance.
Mr Osborne will take up the part-time role on February 1 at the BlackRock Investment Institute and "provide perspectives on European politics and policy, Chinese economic reform, and trends such as low yields and longevity and their impact on retirement planning", the firm said.
Ian McConnell: Banks must respond to Brexit but they do not have to close branches
BlackRock hailed the MP for leading the UK's recovery from the financial crisis and described him as a "leading voice in the G20 on global economic and financial issues".
His salary was not disclosed.
Mr Osborne was ousted from a six-year stint as chancellor following the EU referendum last year and has been languishing on the Tory backbenches ever since.
He said on Friday: "I am excited to be working with the BlackRock Investment Institute as an adviser.
Ian McConnell: Banks must respond to Brexit but they do not have to close branches
"BlackRock wants better outcomes for pensioners and savers - and I want to help them deliver that. It's a chance for me to work part-time with one of the world's most respected firms and a major employer in Britain."
Mr Osborne will not engage in any lobbying of the British government, the group confirmed.
His appointment follows a string of fellow political heavyweights rocking up at financial firms.
Former prime minister Tony Blair pocketed what is thought to be hundreds of thousands after taking an advisory role at JP Morgan after quitting Downing Street.
Earlier this week, former foreign secretary William Hague also joined Citigroup as an adviser.
Ian McConnell: Banks must respond to Brexit but they do not have to close branches
BlackRock chairman Laurence D Fink said: "George has a unique and invaluable perspective on the issues that are shaping our world today.
"At the centre of our mission is helping people around the world save and invest for retirement, and George's insights will help our clients achieve their goals."
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