Sajid Javid is set to join asset management and private equity giant Centricus as a partner next week as he exits parliament after the election, the company has announced.
In a statement, Centricus, which manages around $42bn for its clients, said that Javid will take on a permanent role as a partner from July 8.
The role marks a return to the private sector for Javid, who spent two decades in investment banking before running for parliament.
He has been among scores of Conservative MPs to announce they are quitting parliament after The Gernal Election.
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“I am thrilled to join the team at Centricus,” Javid said in a statement. “I look forward to contributing to our mission of driving growth and creating long-term value for our clients through innovative and strategic solutions.”
Javid has served as a senior adviser to the company since last year in a move which raised some eyebrows in Westminster at the time.
In an assessment of the role, the Committee on Business Appointments said last year that given his time as Chancellor, Javid had “significant knowledge of fiscal and monetary policy” and this “could be perceived to offer an unfair advantage to Centricus, specifically information regarding potential at-risk firms”.
Javid, who entered parliament in 2010, served in the governments of David Cameron, Theresa May and Boris Johnson in roles including Chancellor, health secretary and home secretary.
After announcing he would step down after the next election he was linked with a potential role at fast-fashion giant Shein and met with the company’s executive chair for talks over a position, Sky News reported.
Centricus co-founder and Partner Dalinc Ariburnu said the firm had “benefited greatly over the last year” from his “advice and guidance”.
“We are delighted that he has agreed to join our Partnership and firm on a full-time basis,” he added. “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 firmwide strategy.”