Malcolm Turnbull has got a new job.
The 29th Prime Minister of Australia has been hired as a senior global advisor to KKR, a global investment firm headquartered in New York.
The former Liberal Party leader is returning to his roots in investment and finance in the private sector, having once held the title of local managing director of Goldman Sachs.
Turnbull was also a journalist and a barrister before joining politics.
But he’s not the first to depart government service for a financial advisory role: former prime minister Paul Keating became an adviser to Lazard Australia, an investment bank, while former NSW Premier Bob Carr became a consultant to Macquarie Bank.
The firm has 18 senior advisers and 27 industry advisers in its ranks that give counsel on how trends and developments in public policy, regulation, societal needs, and technology around the world might impact investment.
The appointment is effective from today (1 June 2019).
“Given Mr. Turnbull’s significant background in the private and public sectors, he has unique experience and holds a distinct point of view regarding how KKR can help address the problems our changing world presents,” KKR said in a statement provided to Yahoo Finance.
“KKR looks forward to leveraging Mr. Turnbull’s insights honed through his many years of business accomplishment and international policy leadership.”
KKR, which is an acronym for Kohlberg Kravis Roberts, the founders of the investment firm, has 16 offices around the world, including Sydney.
Turnbull was ousted from Prime Ministership in August 2018 after ministers from the Liberal Party’s far-right staged a coup that saw Scott Morrison emerge as the new leader of the Liberal Party and of Australia.
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