Inside the Maserati lifestyle of George Osborne s new Mayfair boutique banking job
Private chefs, hard work and a space for the coupe - when Osborne arrives at his new job, he ll find it s anything but a faceless corporate
3 February 2021 • 8:24am
George Osborne, who is set to swap his porfolio career of various roles, for a main job at a boutique bank
Credit: Getty
The internet is humming with the news that George Osborne’s days of multi-tasking are behind him; as of April he will be joining the Mayfair boutique bank Robey Warshaw. Haven’t heard of it? Over the last five financial years, the firm has generated £187 million to be divided between its three founding partners. That’s about £12 million per year each – higher than many of the chief executives they advise.
Inside Robey Warshaw, the firm that will make George Osborne very rich
The former Chancellor is abandoning his portfolio career to join a boutique advisory firm that has helped broker multi-billion pound deals
2 February 2021 • 12:36pm
George Osborne will give up roles at BlackRock and the Evening Standard to join the Mayfair-based advisory firm
When Morgan Stanley banker Simon Robey was asked by
The Telegraph in 2005 if investment bankers make too much money, he admitted that maybe in the “boom years of 1999 to 2000, it was a little too easy” to get rich.
“I think those days are probably gone,” he said, years after falling into banking by accident. He wanted to be a professional singer, but Lazard was pitching itself to students in the room next door to the cabaret he was performing in at Oxford so he popped in and got a job with the investment bank instead.
Last modified on Wed 3 Feb 2021 00.13 EST
Sir Simon Robey had his career planned out. He wanted to become a professional opera singer and his dream was to sing on stage at the Royal Opera House, but he accidentally stumbled into investment banking.
It’s a decision he occasionally regrets while singing in the shower in the morning. But Robey, 60, turned out to be a pretty good banker, and has been described as the City’s “trillion dollar man” for the cumulative size of the mega-deals he has worked on, including advising the Cadbury board on the sale of the 197-year-old chocolate company to America’s Kraft in 2010. His sought-after advice has earned him at least £137m in the last seven years alone.
Last modified on Tue 2 Feb 2021 00.12 EST
George Osborne, the former chancellor who orchestrated the austerity drive after the financial crisis, is dropping his portfolio career to become a full-time banker.
Osborne announced on Monday that he is giving up nearly all his current jobs to become a partner at the investment bank Robey Warshaw. The former Conservative MP is currently editor-in-chief of the Evening Standard and the chair of the Northern Powerhouse Partnership. He is also paid £650,000 a year for working one day a week as an adviser to the fund manager Black Rock.
It is unclear how much Osborne will be paid at Robey Warshaw, which has advised on some of the largest UK takeovers since it launched in 2013. However, filings at Companies House show that the highest paid partner at Robey Warshaw collected £10m in 2020 and £27.8m in 2019.
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