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Former chancellor Javid in talks to affix funding agency Centricus | Enterprise Information

Sajid Javid, the previous chancellor of the exchequer, is in talks a few position with an funding agency with shut hyperlinks to SoftBank, the large Japanese conglomerate.

Sky Information has learnt that Mr Javid, who just lately introduced that he would not stand for re-election in his Bromsgrove seat, has held preliminary talks with Centricus, a London-based group which manages greater than $40bn in property.

Sources mentioned the talks between Mr Javid and Centricus weren’t sure to lead to a job.

If he does be a part of the agency, the previous cupboard minister could be reunited with quite a few former colleagues from Deutsche Financial institution, the place he labored for almost a decade.

Mr Javid left the German funding banking powerhouse in July 2009 “to present one thing again by public service”, in keeping with his LinkedIn profile.

He held a number of senior ministerial roles, together with on the Division of Well being, as enterprise secretary, and on the Division for Housing, Communities and Native Authorities.

His eight-month stint as chancellor led to February 2020.

Later that yr, he grew to become an adviser to quite a few corporations, together with the Wall Road funding financial institution JP Morgan.

It was unclear on Monday what his exact position may be at Centricus if he did be a part of the agency.

Learn extra:
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Based in 2016, Centricus is concentrated on investments in sectors together with monetary providers, infrastructure and client, media, leisure and sports activities.

It helped to construction the fundraising for the huge SoftBank Imaginative and prescient Fund and led a $50m funding into Tamara Mellon’s eponymous luxurious shoe model.

Final yr, it submitted an unsuccessful bid to purchase Chelsea Soccer Membership.

Centricus’s senior staff consists of Garth Ritchie and Nizar Al-Bassam, each of whom held government posts at Deutsche Financial institution.

A spokesperson for Mr Javid mentioned: “Sajid in fact continues to have sturdy relationships in enterprise, finance and different sectors, however he has not but thought-about any roles with any organisations.

“His current resolution to face down implies that he can begin to discover, over the following two years, what the following part of his profession will contain.”

The identical spokesperson issued a press release to Sky Information on 25 November insisting that Mr Javid had “despatched affirmation to Conservative Get together HQ that he intends to face once more on the subsequent basic election”, in response to questions on his parliamentary future.

Every week later, the previous chancellor introduced publicly that he would step down as an MP.

Centricus declined to touch upon its discussions with Mr Javid.

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