Skip to content 
Search

Latest Stories

Rishi Sunak returns to Goldman Sachs, will donate salary to charity

The salary would go towards the Richmond Project, the education charity he recently established with his wife Akshata Murty.

Rishi Sunak returns to Goldman Sachs, will donate salary to charity

Rishi Sunak. (Photo by Carl Court/Getty Images)

FORMER prime minister Rishi Sunak has returned to the banking world as senior adviser at Goldman Sachs group, with plans to donate his salary to the education charity he recently established with his wife Akshata Murty.

The US-headquartered multinational investment bank, where Sunak worked before entering politics, made the announcement on Tuesday (8) after the requisite 12-month period elapsed since the British Indian leader's ministerial term concluded following defeat in the general election on July 4 last year.


The UK Advisory Committee on Business Appointments, which must approve jobs taken by former ministers for at least two years after leaving office, gave its approval with conditions "to mitigate the potential risks to the government" regarding privileged information Sunak would have as a former prime minister.

The committee noted that the salary from his new role would go towards the Richmond Project, a charity announced earlier this year as a joint initiative with Murty focused on improving mathematics and numeracy skills among children and young people in England.

"Goldman Sachs has a significant interest in UK government policy. As the former Prime Minister, there is reasonable concern that your appointment could be seen to offer unfair access and influence within the UK government," the committee stated in its advice published this week.

"You and Goldman Sachs have confirmed to the committee that the role will not involve lobbying the government, which all former ministers are prevented from doing for two years after leaving office. The committee considered that it would be difficult to mitigate the risk of perceived lobbying if you initiated engagement of any kind with the UK government in this role, noting this is not your stated intention."

Under the stipulations, Sunak must not draw on any privileged information available to him from his time in ministerial office.

  Rishi Sunak and Akshata Murty. (Photo by HENRY NICHOLLS/AFP via Getty Images) 

"For two years from your last day in ministerial office, your role with Goldman Sachs Group Inc should be limited to providing advice on strategy, macroeconomic and geopolitical matters that do not conflict with your time as prime minister (including where you are working with parent companies, subsidiaries, partners and clients of Goldman Sachs)," the committee added.

It also stressed that the advice was not an "endorsement" of Sunak's new role but aimed at protecting the integrity of government.

The publication of the committee's decision coincided with Goldman Sachs issuing a statement welcoming the British Indian politician, who continues as a backbench Tory MP for Richmond and Northallerton.

"In his role, he will work with leaders across the firm to advise our clients globally on a range of important topics, sharing his unique perspectives and insights on the macroeconomic and geopolitical landscape. He will also spend time with our people around the world, contributing to our culture of ongoing learning and development," said Goldman Sachs chairman and CEO David Solomon.

Sunak previously worked at Goldman Sachs as a summer intern in Investment Banking in 2000 and later as an analyst between 2001 and 2004.

His political career began when he was elected Tory MP in 2015 and went on to be appointed a junior minister, then chancellor before becoming Britain's first prime minister of Indian heritage in October 2022.

(with inputs from PTI)

More For You

Modi set for UK visit to sign free trade agreement

FILE PHOTO: Keir Starmer (L) with Narendra Modi. (Photo: Getty Images)

Modi set for UK visit to sign free trade agreement

INDIA's prime minister Narendra Modi is likely to travel to the UK by the end of this month for a visit that could see both sides formally sign the landmark India-UK free trade agreement and explore ways to expand bilateral ties in the defence and security sphere, diplomatic sources said.

Both sides are in the process of finalising the dates for Modi's visit to the country by the end of July or the first part of August, they said.

Keep ReadingShow less
 Post Office Horizon

A Post Office van parked outside the venue for the Post Office Horizon IT inquiry at Aldwych House on January 11, 2024 in London.

Getty Images

Post Office scandal linked to 13 suicides, says inquiry

Highlights:

 
     
  • Public inquiry finds up to 13 suicides linked to wrongful Post Office prosecutions.
  •  
  • Horizon IT system faults led to false accusations, financial ruin, and imprisonment.
  •  
  • Sir Wyn Williams says Post Office maintained a “fiction” of accurate data despite known faults.

A PUBLIC inquiry has found that up to 13 people may have taken their own lives after being wrongly accused of financial misconduct by the Post Office, in what is now described as one of the worst miscarriages of justice in British history.

Keep ReadingShow less
UK ramps up drought response following driest spring

The EA has begun conducting more compliance checks on high-usage industries

Getty Images

UK ramps up drought response following driest spring since 1893

Key points

  • Spring 2025 was England’s driest and warmest in over 130 years
  • Reservoirs across England only 77% full, compared to 93% average
  • Environment Agency increases monitoring and drought planning
  • North-west England officially declared in drought

Water conservation measures stepped up ahead of summer

The UK government has increased efforts to manage water resources after confirming that England experienced its driest and warmest spring since 1893. The Environment Agency (EA) reported that reservoirs were on average only 77% full, significantly lower than the usual 93% for this time of year.

The announcement came after a National Drought Group meeting on Thursday, which reviewed the impact of continued dry weather on crops, canal navigation, and river flows. Poor grass growth and dry soil conditions were noted as threats to food production and livestock feed.

Keep ReadingShow less
Norman Tebbit

Following Thatcher’s third general election victory in 1987, Tebbit stepped back from frontline politics to care for his wife. (Photo: Getty Images)

Getty Images

Former minister, Thatcher ally Norman Tebbit dies at 94

Norman Tebbit, a close ally of former British prime minister Margaret Thatcher and a former Conservative Party cabinet minister, has died at the age of 94. His son William confirmed the news on Tuesday.

"At 11:15 pm on 7th July, 2025, Lord Tebbit died peacefully at home aged 94," William Tebbit said in a statement.

Keep ReadingShow less
Southport

Floral tributes left by members of the public are seen following the fatal knife attack on three young girls in July in Southport.

Reuters

Public inquiry begins into Southport girls' murders

A PUBLIC inquiry begins on Tuesday into the murders of three young girls at a Taylor Swift-themed dance event in Southport last year.

The inquiry will examine whether the attack could have been prevented and how future incidents might be avoided.

Keep ReadingShow less