George Osborne has bolstered his personal fortune since leaving politics, as he joins a trio of investment bankers sharing a £30 million pot after record profits at Robey Warshaw, the influential City advisory firm where he works.
Accounts for the Mayfair-based firm reveal that profits soared to £70 million in the 12 months ending March, a significant increase from £31.8 million the previous year.
The lion’s share of £40.5 million went to a single individual, believed to be Sir Simon Robey, a founding partner of the business and one of the City’s most powerful dealmakers.
The remaining £29.5 million was divided among Osborne and two other partners, Simon Warshaw and Philip Apostolides.
This marks the latest in a series of lucrative earnings for Osborne since stepping down as an MP in 2017. Before joining Robey Warshaw in 2021, he served as an adviser at BlackRock, the American investment giant, earning £650,000 a year for a part-time role. Osborne has also held positions as editor of the Evening Standard newspaper and chair of the Northern Powerhouse Partnership think tank.
Osborne spent 16 years in Parliament, including six as Chancellor, before being replaced by Theresa May in 2016 when she became Prime Minister. During his tenure at the Treasury, he was a key architect of the austerity programme, which attracted both support and criticism.
His move to Robey Warshaw marked his entry into the upper echelons of the banking industry, raising eyebrows as it was the first time the boutique firm had added a new partner since its establishment in 2013 by Robey, Warshaw, and Apostolides—all seasoned bankers from major City firms.
Since its inception, Robey Warshaw has built a reputation as one of the most trusted advisers to Britain’s largest companies, participating in several high-profile takeover deals. Notably, the firm advised SABMiller during its $100 billion sale to Anheuser-Busch InBev in 2016—the largest-ever takeover of a UK company.
More recently, the firm has advised Direct Line, the insurer fending off takeover approaches, and was involved in the attempted acquisition of The Telegraph newspaper by Abu Dhabi-backed Redbird IMI, believed to be Osborne’s client.
Osborne, a supporter of Chelsea FC, also advised American billionaire Todd Boehly on his £4.25 billion acquisition of the club two years ago.
Robey Warshaw declined to comment on the accounts.