By IANS
London : Besides keeping himself busy in the lecture circuit in the US, bringing peace in the Middle East and writing his memoirs, former British prime minister Tony Blair has just taken on another job as a senior advisor to the US investment bank JPMorgan Chase.
After stepping down as the prime minister in June last year, Blair has been traversing the US and the Middle East as an envoy of the Quartet of Middle East peace negotiators, the US, Russia, UN and the EU.
JPMorgan announced Thursday that it had appointed Blair in a senior advisory capacity and will also join the company’s International Council. He will advise the bank’s CEO and senior management team on a part-time basis, “drawing on his immense international experience to provide the firm with strategic advice and insight on global political issues and emerging trends”.
Watching Blair’s activities keenly after stepping down as the prime minister, the British media have often reported that he commanded huge amounts in fees on the lucrative American lecture circuit, and undisclosed amounts to write his memoirs on his decade long stay at 10 Downing Street.
JPMorgan did not announce how much it will pay him in his new role, but the BBC reported some estimates it was to the tune of £500,000 ($1 million) a year.
Jamie Dimon, Chairman and CEO of the bank, said: “We’re honored that Tony Blair has chosen to join JPMorgan Chase as a senior advisor to our executive team and Board. We operate our business all over the world, and Tony Blair will bring our leaders and clients a unique and invaluable global perspective that is especially critical in turbulent times like these. Our firm will benefit greatly from his knowledge and experience.”
The bank statement on Blair’s appointment quoted him as saying: “It is a great opportunity to be able to contribute to the work of JPMorgan Chase. They are a leading company at the cutting edge of the global economy, with a footprint in virtually every part of the world.
“I look forward to advising them on how they approach the huge political and economic changes that globalisation brings. I am excited at the prospect of joining Jamie Dimon, for whom I have a lot of respect, and the whole team, adding my own experience to their work and helping them to grow.”
Blair earlier told the Financial Times he planned to take up “a small handful” of similar roles with other companies in different sectors. He told the paper: “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.”
In October, Blair was publicly backed by French President Nicolas Sarkozy for the job of president of the European Council – dubbed “president of Europe” – a role which will be created under the terms of the new EU reform treaty.
However, the former prime minister has played down speculation he is to be offered the job, with his spokesman at the time saying that Blair is “focusing on his current role in the Middle East”.