Former British Prime Minister Tony Blair is all set to make a foray into the private sector -- he will join JPMorgan, one of the Wall Street's best-known investment banks.
Blair would be a part-time political adviser to the US firm, which has its offices in over 50 nations across the globe and whose assets are put at USD 1.5 trillion, the 'Financial Times' reported on Thursday.
The former Premier told the financial daily that he expected to agree to "a small handful" of similar appointments with other companies in different sectors. "I have always been interested in commerce and the impact of globalisation. Nowadays, the intersection between politics and the economy in different parts of the world, including the emerging markets, is very strong," Blair said.
Though his salary has not been disclosed, according to Wall Street recruitment consultants, the job could pay the British leader about 500,000 pounds a year.
JPMorgan's Chief Executive Jamie Dimon said that Blair would be "enormously valuable" to the company. "There are only a handful of people in the world who have the knowledge and relationships that he has."
The JPMorgan job was brokered by Robert Barnett, the Washington lawyer who also negotiated a reported five million pound advance for Blair's memoirs.
Dimon, one of the leading Democrats on Wall Street, said he approached Blair personally. "I went to visit him and we hit it off." He said it's important to both men "to try to make the world a better place and have a bit of fun doing it".
Blair will add the advisory role to his job as a Middle East envoy and speaker on the international lecture tour, which is earning him 100,000 pounds a speech.
Prime Minister Tony Blair waves before leaving his Downing Street residence for the last time as Prime Minister on June 27, 2007 in London.
Photograph: Daniel Berehulak/Getty Images
PTI
