BlackRock hires George Osborne as an adviser
Former British chancellor of the exchequer George Osborne will join the world’s largest asset manager BlackRock as an adviser next month.
Osborne, a prominent campaigner for Britain to remain in the EU, lost his job after the UK’s Brexit vote, but he remains a member of parliament.
In his new part-time role at the US financial giant, starting on February 1, Osborne will “provide perspectives on European politics and policy, Chinese economic reform, and trends such as low yields and longevity and their impact on retirement planning”, BlackRock said.
Although the firm did not disclose his salary, the former British chancellor will earn more than £200,000 a year after joining BlackRock, according to Financial Times.
“George has a unique and invaluable perspective on the issues that are shaping our world today,” Laurence D. Fink, chairman and chief executive of BlackRock, said.
Osborne, became the country’s youngest chancellor of the exchequer in more than 100 years when he was appointed in 2010 to spearhead an austerity drive by the Conservative-led government following the global financial crisis. He was widely considered a likely future prime minister at the time.