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Former Chancellor Javid returns to JP Morgan

Sajid Javid

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Former Chancellor Sajid Javid has accepted a job with US bank JP Morgan.

Mr Javid left as chancellor in February after refusing to sack his advisers.

The row was part of a power struggle with the Prime Minister’s chief adviser Dominic Cummings.

The job marks a return to banking for Mr Javid, and a return to a former employer. He worked there in the 1990s before moving to Deutsche Bank. Former Prime Minister Tony Blair also took a post at JP Morgan after leaving office.

“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 lender said in a statement.

The bank didn’t disclose his pay or hours, but said the work wouldn’t interfere with his duties as a member of parliament.

The job has been approved by the UK’s Advisory Committee on Business Appointments (ACOBA), which oversees jobs for former ministers and top civil servants.

The job as senior adviser on the bank’s advisory council for Europe, the Middle East and Africa will see him join former Italian economy and finance minister Vittorio Grilli and former prime minister of Finland Esko Aho on the council.

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