Ex-treasurer Josh Frydenberg has a new job at investment bank Goldman Sachs just two months after losing his seat in the federal election.
Key points:
- Josh Frydenberg will be Goldman Sachs ’senior Asia-Pacific regional advisor
- Goldman Sachs is one of the world’s leading investment banks with a major role in corporate mergers and acquisitions.
- Mr. Frydenberg was one of the Liberals who lost a previously safe seat in front of an independent “green man.”
Frydenberg lost the Liberal seat of Kooyong, which was previously safe, to independent candidate Monique Ryan, who was part of a “blue-green” wave that helped eliminate the ruling Coalition.
Goldman Sachs has confirmed that the man who was in charge of the Australian government’s finances during the COVID-19 pandemic would now play a role with him as a senior regional adviser for Asia-Pacific.
“We are fortunate to bring to Goldman Sachs a person with Josh’s deep experience, connectivity and knowledge in the public and private sector,” Kevin Sneader, Goldman Sachs co-chair in Asia-Pacific ex-Japan, said in a statement.
“Their meaningful understanding of geopolitical and economic issues will bring considerable value to our customers throughout the region and beyond.”
Mr Frydenberg is no stranger to the world of investment banking, having previously worked at Deutsche Bank before entering parliament.
The former treasurer, who in this position was also responsible for giving final approval to major mergers or foreign acquisitions of Australian companies, said he is pleased to join the bank.
“I am delighted to join Goldman Sachs, which is the preeminent consultant for mergers and acquisitions and capital markets for clients worldwide,” it said in a statement.
“I look forward to joining the team and contributing to the company’s leadership, its global capability and the strength of the customer franchise.”