Rishi Sunak's Goldman Sachs Job Raises Concerns Over Political Access and Influence

Former UK Prime Minister Rishi Sunak has taken on a new role as senior adviser at Goldman Sachs, despite remaining the Conservative MP for Richmond and Northallerton in Yorkshire. The global investment bank confirmed his appointment on Tuesday 8 July 2025, prompting both praise and scrutiny.

Back to Banking: Sunak's Career Comes Full Circle

Before entering politics, Sunak worked as a financial analyst at Goldman Sachs from 2001 to 2004. His return to the firm has been described as a major win for the banking giant, given his extensive economic and political experience.

Goldman Sachs CEO David Solomon welcomed Sunak back, saying: 'I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a senior adviser.'

Sunak will work part-time, offering strategic guidance on macroeconomic and geopolitical developments to the bank's global clients. He is also expected to engage with staff worldwide to support the bank's internal learning and leadership development initiatives.

ACOBA Raises Red Flags Over Potential Influence

However, Sunak's new role has triggered concerns from the Advisory Committee on Business Appointments (ACOBA). The watchdog, which monitors post-government employment for former ministers, warned that his position could offer Goldman Sachs undue access to privileged insights or influence.

In its official letter approving Sunak's role, ACOBA stated: 'Goldman Sachs is a stakeholder of the UK Government as a major financial institution operating in the UK. It has advised and interacted with the UK Government on various economic and financial matters, including working with departments on specific contracts.'

ACOBA emphasised that since it remains unclear which clients Sunak will advise, the risk of conflicts of interest remains significant. The organisation instructed Sunak to ensure that he only uses publicly available or non-privileged information in his advisory role.

'Former Ministers of the Crown and Members of Parliament are expected to uphold the highest standards of propriety and act in accordance with the Seven Principles of Public Life,' the committee reminded him.

Restrictions to Prevent Lobbying and Conflicts

Goldman Sachs confirmed that Sunak's advisory work will not involve lobbying the UK Government or advising clients with whom he had direct dealings during his time in office. He will also be prohibited from using any confidential information obtained during his tenure as Prime Minister.

To mitigate any public concern over financial gain, Sunak has pledged to donate his salary from this role to The Richmond Project, a charity he co-founded with his wife Akshata Murty to improve numeracy in the UK.

High-Profile Moves Post-Downing Street

Sunak stepped down as Prime Minister following the Conservatives' electoral defeat in July 2024. Since then, he has joined both the Blavatnik School of Government at the University of Oxford and the Hoover Institution at Stanford University, although he is not compensated for either role.

His appointment at Goldman Sachs comes amid ongoing debates about the revolving door between politics and finance. While Sunak's supporters argue his expertise is an asset, critics say it highlights potential weaknesses in the UK's post-ministerial ethics framework.