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Sajid Javid, the UK’s former Chancellor of the Exchequer, is set to join London-based Centricus Asset Management Ltd, people with knowledge of the matter said, joining a long list of politicians who’ve moved into financial services after leaving office.
Javid plans to join the $40 billion investment firm as a senior adviser, according to the people, who asked not to be identified discussing confidential information. Discussions over the terms of his appointment are ongoing, they said.
A representative for Centricus declined to comment. Javid couldn’t immediately be reached for comment.
Javid was chancellor for only a short time in 2019 and 2020 before dramatically leaving the role after a row with then PM Boris Johnson. Once considered among the Conservative Party’s brightest prospects, he has previously served as the UK’s home secretary, and also health secretary during the Covid-19 pandemic.
In December, he announced his decision not to stand as a member of Parliament at the next general election. Joining Centricus will mark a return to the financial services industry for Javid, who earlier in his career was a banker at JPMorgan Chase & Co and Deutsche Bank.
It is not unusual for MPs to take up roles in the high-paying world of finance after leaving Westminster, with investment banks, asset managers and private equity firms keen to tap their political expertise and networks.