You are not logged in.
Pages: 1
Payday: Former Chancellor George Osborne
George Osborne has shared in a £27million bumper payday in his first full year after joining a boutique City investment bank.
The former Chancellor, who left government in 2016 after Theresa May was appointed Prime Minister, scooped a chunk of the profit which was revealed in Robey Warshaw's accounts for the year to March 2022.
The Mayfair-based firm has worked on a series of high-profile deals this year, including the sale of Chelsea Football Club to a group led by US billionaire Todd Boehly, and HSBC's defence against a break-up proposed by a Chinese insurer.
The bigger the deals, the bigger the winnings for Osborne and his colleagues.
Rather than paying its four partners a salary, Robey Warshaw gives them a share of the profit it makes.
Most of last year's £26.5million, at £17.2million, went to Sir Simon Robey, the firm's co-founder.
RELATED ARTICLES
Previous
1
Next
Investment bankers enjoy a £4.5bn fees bonanza as takeover... Lord O'Neill interview: The Tories have one last chance to... With triple lock relief in the last chance saloon... Is... Call to end pension freedom IHT benefits: Pension pots...
Share this article
Share
40 shares
HOW THIS IS MONEY CAN HELP
How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing platform
The remainder was shared between the firm's other co-founder Simon Warshaw, Osborne, and banker Philip Apostolides, though the accounts did not disclose how much each pocketed.
Osborne's appointment to Robey Warshaw in early 2021 propelled him into the upper ranks of the City.
But it was just one in a string of jobs which the 51-year-old has landed since leaving Number 11. A key lieutenant in David Cameron's Conservative government, Osborne is also chairman at the British Museum and of the 'partners council' which oversees Exor, the holding company of the Italian billionaire Agnelli family.
He was editor of the Evening Standard between 2017 and 2020, and is a director of his father's wallpaper company Osborne & Little.
Osborne also has his work cut out at home. Last year his fiancee and former adviser Thea Rogers gave birth to their first child and the couple are now expecting their second. He has two grown-up children with his former wife Frances Osborne.
Top brass at investment banks such as Robey Warshaw are generally paid in proportion to the work they bring in. Osborne, a Chelsea fan, is believed to have worked on the football club's sale to Boehly.
Over the year covered by the accounts, Robey Warshaw worked on significant deals including the £7.2billion sale of RSA Group, one of Britain's oldest insurers, to overseas rivals and the successful attempt by textbook company Pearson to ward off takeover approaches from US private equity suitor Apollo Global.
The investment bank made a turnover of £39.8m for the year to March 2022 - almost flat on the year before - and employed 13 members of staff, excluding Osborne and the other three partners.
DIY INVESTING PLATFORMS
Easy investing
Stocks & shares Isa
£1.50 fund dealing
0.25% fee on fund holdings
Investment ideas
Free fund dealing
Free fund dealing
0.45% account fee capped for shares
Flat-fee investing
No fees
From £4.99 a month
Trade shares and funds for £3.99
Social investing
Social investing
Share investing
30+ million global community
Model portfolios
Investment account
Free fund dealing
Free financial coaching
Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence.
> Compare the best investing platform for you
Also visit my web-site ... cloudstacks.b-cdn.net
Also visit my broad keywords to search for target sites site - Payday Loans QuickLoansPro
Offline
Pages: 1