BlackRock Taps Ex-U.K. Finance Minister Osborne For Advisory Role

Jan 20 2017 | 9:34pm ET

Global asset manager BlackRock has named former United Kingdom Chancellor of the Exchequer George Osborne as a senior adviser to its BlackRock Investment institute, a think tank for global investment and economic strategy.

Osborne will take up his new role on February 1. He resigned from his position in the U.K. government in July following the country’s vote to leave the European Union. Osborne, who is now 45, was the youngest holder of his office in more than 100 years when he became finance minister since 2010 and advocated heavily for Britain to remain in the EU. 

Osborne brings “a unique and invaluable perspective on the issues that are shaping our world today,” wrote BlackRock CEO Larry Fink in an email quoted by Bloomberg on Friday. 

Osborne will advise the BlackRock Institute on European politics, Chinese economic reform, the low yield environment and the impact of higher life expectancies on retirement planning, according to the statement. 

Britain’s Advisory Committee on Business Appointments approved the move provided Osborne does not utilize privileged information gained during his time as finance minister and does not personally lobby the British government for the next two and a half years. 

Founded in 1999, BlackRock is the world’s largest asset management firm, with a total AUM of more than $5.1 trillion as of December 31, 2016 across equity, fixed income, cash management, alternative investment, real estate and advisory strategies.

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