Former chancellor Sir Sajid Javid has been appointed as a partner at asset manager Centricus after calling time on his career as a Conservative MP.
The London-based firm – for which Sir Sajid is already acting as a senior adviser – said he will become a partner on July 8.
Sir Sajid said earlier this year he would not stand for re-election on July 4, having served as an MP for Bromsgrove in Worcestershire since 2010.
He is one of more than 130 people who were MPs in the 2019-2024 Parliament who have chosen not to stand in the General Election, of which 75 are former Conservative MPs – a post-war record high.
Sir Sajid, who served as chancellor under Boris Johnson, was knighted in the New Year Honours list.
Before being elected as an MP, he worked in investment banking, becoming a vice president at Chase Manhattan Bank at the age of 25.
He later moved to Deutsche Bank in London to help build its business in emerging market countries and was latterly a senior managing director at the group before leaving in 2009 to go into politics.
He said: “I am thrilled to join the team at Centricus.
“I look forward to contributing to our mission of driving growth and creating long-term value for our clients through innovative and strategic solutions.”
Centricus was set up in 2016 and is focused on advisory, private equity, and asset management, overseeing more than 40 billion US dollars (£31.6 billion) worth of investments.
Dalinc Ariburnu, co-founder and partner of Centricus, said: “We have benefited greatly over the last year from Sir Sajid’s advice and guidance.
“We are delighted that he has agreed to join our partnership and firm on a full-time basis.
“We look forward to further benefiting from his in-depth understanding and experience in global markets, international business and global geo-politics to help guide and execute our firm-wide strategy.”
Sir Sajid had an extensive career in government, serving in six cabinet roles and becoming the first British Asian to hold one of the great offices of state.
He took on the roles of home secretary, chancellor and health secretary during his career, while also putting himself forward for the Tory leadership twice.
It was his sensational resignation from Mr Johnson’s cabinet, together with Rishi Sunak, that spelled the beginning of the end for the former prime minister’s premiership.
He had previously left his role as chancellor role abruptly in 2020 after being told he must sack all his advisers if he wished to keep his job.