30th Nov, 2020

Sajid Javid criticised as a 'part-time MP' after taking new job at banking giant JP Morgan

Harry Leach 18th Aug, 2020 Updated: 18th Aug, 2020

SAJID Javid has been criticised as a ‘part-time MP’ after accepting a new job with Wall Street giant JP Morgan, the bank where he started his career.

The Bromsgrove MP will be a senior adviser on the US bank’s advisory council for Europe, the Middle East and Africa.

A spokesman for the bank said: “We are delighted to welcome Sajid back to JP Morgan as a senior adviser, and we look forward to drawing upon his in-depth understanding of the business and economic environment to help shape our client strategy across Europe.”

The move has raised alarm bells with some of his constituents who believe Mr Javid will spend ‘even less time supporting the town’.

But Mr Javid’s office told the Standard that he would only work approximately 10 to 12 days a year.

A spokesperson said: “There is nothing more important to Sajid than being the Member of Parliament for Bromsgrove. Representing his constituents is and always will be Sajid’s first priority.

“It is not unusual for backbench MPs to take on advisory roles.”

Mr Javid previously had a career at finance at Chase Manhattan, which later merged with JP Morgan, and worked in several roles in its currencies and emerging market businesses.

He quit his role as Chancellor in February this year.

He later joined Deutsche Bank where he ran several of the German lender’s trading businesses in Asia.

 

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