Hedge Funds: Rishi Sunak Takes Over Role as British Chancellor

February 13, 2020 | Hedge Funds, Investments, News

Rishi Sunak has become the new U.K. Chancellor after the sudden resignation of Saji Javid. The news comes amid a shakeup in Prime Minister Boris Johnson’s cabinet. It was a sudden and surprising announcement given Sunak’s relatively short career in politics. The son-in-law of a billionaire had previously worked at Goldman Sachs and at hedge funds across London.

Rishi Sunak and His Meteoric Rise

Sunak assumes the top financial post of the British government. He carries a deep background in finance and investment banking. A graduate of Winchester College, he went on to study Politics, Philosophy, and Economics (PPE) at Oxford. He later obtained a Fulbright Scholarship and earned an MBA from Stanford University.

Sunak started his career in finance at Goldman Sachs in London. He received his MBA and would go on to work at The Children’s Investment Fund, a London-based hedge fund. He became a partner at Sir Chris Hohn’s fund in 2006. During his two years there, the fund had paid roughly 875 million pounds to its 20 partners.

Sunak later moved on to the Theleme Fund, founded by one of TCI’s cofounders. He also became a director of Catamaran Ventures, an Indian venture capital fund owned by Narayana Murthy, Sunak’s father-in-law.

Sunak then jumped into politics in 2015. He represented the constituency of Richmond, North Yorkshire. A prominent proponent of the Brexit, Sunak had authored papers arguing that free ports would create new jobs for British workers. His work caught the attention of senior leaders, who appointed him to the private secretary at the Department of Business. He later obtained a role with the Housing, Communities, and Local Government department in 2018. Then, in 2019, he became Chief Secretary to the Treasury and helped the Tory Party debate over Brexit.

Recent: Goldman’s Private Equity Clients All Fear a Recession






Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News

Alternative Investments/ESG: Six New Responsible Funds Flag Off Morgan Stanley’s ETF Platform

Morgan Stanley Investment Management (MSIM) has launched its ETF platform with six Calvert ETFs listed on NYSE Arca. The ETFs feature Calvert’s responsible investing approach and offer access to four…

Artificial Intelligence: MusicLM, A New Generative AI Tool From Google, Creates Music From Text
February 2, 2023     Artificial Intelligence, News

Google (NASDAQ: GOOGL) recently published a research paper on its new AI tool, MusicLM, designed to create music. The tool is based on machine learning and is trained on vast…

Artificial Intelligence: Snap Mulling AR Glasses Powered By Generative AI
February 2, 2023     Artificial Intelligence, News

Snap (NYSE: SNAP), the parent company of Snapchat, has hinted at future AR glasses powered by generative AI technology. CEO Evan Spiegel stated that AI will be critical to the…

Digital Assets: Binance And Mastercard Launch Prepaid Crypto Card In Brazil
February 1, 2023     Digital Assets, News

Binance and Mastercard (NYSE: MA) have jointly launched the Binance Card in Brazil, allowing Binance users in the country to make purchases and pay bills with cryptocurrencies like bitcoin and…