Former Chancellor George Osborne is to join the world’s largest fund manager BlackRock as a part-time senior adviser
Starting on 1 February 2017, Osborne will remain as an MP but be barred from lobbying. UK law states he will have to declare his new role publicly.
He served as the UK’s Chancellor of the Exchequer from May 2010 to July 2016 and was first elected in 2001.
‘George has a unique and invaluable perspective on the issues that are shaping our world today,” said Laurence D. Fink, chairman and CEO of BlackRock. ‘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.’
Having campaigned to keep the UK in the EU, Osborne as sacked from the cabinet by Theresa May after she became prime minister following the Brexit vote.
BlackRock manages more than £4 trillion ($5trillion) worth of investments and pension funds worldwide and is often consulted by governments.
Osborne will advise senior BlackRock executives on macroeconomic policy, providing what the company describes as ‘perspectives on European politics and policy’.
Osborne said: ‘I am excited to be working with the BlackRock Investment Institute as an advisor. 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.’
