The former UK chancellor Sajid Javid has been hired as a senior adviser to JP Morgan in a return to his career in banking.
Javid resigned in February after Boris Johnson asked him to sack all of his advisers in a move by No 10 to seize control of the Treasury. He will join the former Labour prime minister Tony Blair, who was hired as a global adviser at the US bank in 2008.
Javid will join a panel of outside experts on the bank’s Europe, Middle East and Africa advisory council. He will continue as an MP and his work with JP Morgan will be strictly governed to guard against revealing internal government policy and privileged information.
JP Morgan did not comment on Javid’s salary but it is not expected to be on the same scale as Blair, who was reportedly paid more than £2m a year.
Javid will offer expertise relating to the UK on the EMEA advisory council. He will join the former Italian economy and finance minister Vittorio Grilli and Esko Aho, the former prime minister of Finland, on the council.
Javid worked in JP Morgan’s currencies and emerging markets business in New York in the 1990s, and then moved to Deutsche Bank before entering politics.
A JP Morgan spokesman said: “We are delighted to welcome Sajid back to JP Morgan as a senior adviser, and we look forward to drawing upon his in-depth understanding of the business and economic environment to help shape our client strategy across Europe.”
The role has been approved by the advisory committee on business appointments at the Cabinet Office, which oversees jobs taken by former ministers and senior civil servants. Ministers must seek the panel’s approval if they want a job within two years of leaving a ministry.
