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| Version 1 | Version 2 |
|---|---|
| Osborne to join investment giant BlackRock as adviser | Osborne to join investment giant BlackRock as adviser |
| (35 minutes later) | |
| Former chancellor George Osborne is to join the world's largest fund manager, BlackRock, as a part-time adviser. | Former chancellor George Osborne is to join the world's largest fund manager, BlackRock, as a part-time adviser. |
| He starts on 1 February, providing "perspectives on European politics and policy, Chinese economic reform, and trends..." BlackRock said. | He starts on 1 February, providing "perspectives on European politics and policy, Chinese economic reform, and trends..." BlackRock said. |
| Mr Osborne, whose salary was not disclosed, will remain an MP, but will not be allowed to lobby the government. | Mr Osborne, whose salary was not disclosed, will remain an MP, but will not be allowed to lobby the government. |
| He said it was a chance to work with one of the world's most respected firms and a major employer in Britain." | He said it was a chance to work with one of the world's most respected firms and a major employer in Britain." |
| Mr Osborne added: "BlackRock wants better outcomes for pensioners and savers - and I want to help them deliver that." | Mr Osborne added: "BlackRock wants better outcomes for pensioners and savers - and I want to help them deliver that." |
| He joins his former chief of staff, Rupert Harrison, who is a senior strategist for the US investment firm. | He joins his former chief of staff, Rupert Harrison, who is a senior strategist for the US investment firm. |
| "George has a unique and invaluable perspective on the issues that are shaping our world today," said Laurence D. Fink, chairman and chief executive of BlackRock. | "George has a unique and invaluable perspective on the issues that are shaping our world today," said Laurence D. Fink, chairman and chief executive of BlackRock. |
| Mr Osborne, a prominent campaigner to keep the UK in the European Union, was sacked from the government after Theresa May became prime minister following the Brexit vote. | Mr Osborne, a prominent campaigner to keep the UK in the European Union, was sacked from the government after Theresa May became prime minister following the Brexit vote. |
| He became the UK's youngest finance minister 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. | |
| In November, he defended earning £320,000 in speaking fees in a single month after leaving government. | In November, he defended earning £320,000 in speaking fees in a single month after leaving government. |
| His appointment follows other political heavyweights joining financial firms. Just this week, former foreign secretary William Hague joined Citigroup as an adviser. | His appointment follows other political heavyweights joining financial firms. Just this week, former foreign secretary William Hague joined Citigroup as an adviser. |
| Former prime minister Gordon Brown sits on the global advisory board at investment manager Pimco, and his predecessor Tony Blair joined JP Morgan in 2008 shortly after leaving office. | Former prime minister Gordon Brown sits on the global advisory board at investment manager Pimco, and his predecessor Tony Blair joined JP Morgan in 2008 shortly after leaving office. |
| Analysis: Joe Lynam, BBC business correspondent | Analysis: Joe Lynam, BBC business correspondent |
| BlackRock manages more than £4 trillion ($5trillion) worth of investments and pension funds worldwide and is often consulted by governments. | BlackRock manages more than £4 trillion ($5trillion) worth of investments and pension funds worldwide and is often consulted by governments. |
| Mr Osborne will advise senior BlackRock executives on macroeconomic policy, providing - what the company says is - perspectives on European politics and policy. | Mr Osborne will advise senior BlackRock executives on macroeconomic policy, providing - what the company says is - perspectives on European politics and policy. |
| He will not be stepping down as an MP though, and will have to declare this new role publicly. | He will not be stepping down as an MP though, and will have to declare this new role publicly. |