Britain Former Prime Minister Rishi Sunak has returned to the banking sector. Veteran Investment Bank Goldman Sachs has appointed former Prime Minister Sunak as Chief Advisor. Rishi Sunak is planning to donate the income from this job to the education charity, which he has recently installed with his wife Akshata Murthy. Before entering politics, Sunak worked at the US Multinational Investment Bank. The bank announced this on Tuesday. This announcement has been made after the end of the 12 -month period after the end of the British Indian leader’s tenure after the defeat in the general election on July 4 last year.
Richmond project will be donated salary
The Advisor Committee on Britain’s Business Appointments, which is required to approve any post taken for at least 2 years after former ministers quit the post, gave its approval with certain conditions. The purpose of these conditions is “to reduce the potential risks for the government”, which is related to their access to the privileged information obtained by Sunak as the former Prime Minister. It also mentions that the salary from his new job will be given to the charitable organization ‘Richmond Project’ which was announced earlier this year as a joint initiative with the idol. It aims to improve mathematics and arithmetic skills between children and youth in England.
The mobilization for the government will not be included in the role of Sunak
The consultation of the committee published this week wrote, “Goldman Sachs has a keen interest in the policies of the UK government. As the former Prime Minister, it is a matter of concern that your appointment can be considered to be an improper reach and impact within the UK government.” It said, “You and Goldman Sachs have confirmed in front of the committee that this role will not include mobilization for the government, which is prevented from doing all former ministers for two years after leaving the post. The committee admitted that if you start any kind of conversation with the British government in this role, it will not be your declared intent, it will be difficult to reduce the risk of perceived mobilization.”
Rishi Sunak has worked earlier in Goldman Sachs
Under the conditions, Sunak will not use any privileged information available while holding the post of minister. Sunak had earlier worked as a summer intern in Investment Banking in Goldman Sachs in 2000 and later served as analyst between 2001 and 2004.
With PTI inputs
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