Bumper pay day: George Osborne took home a share of nearly £28m
George Osborne took home a share of nearly £28m of profits from his investment banking job.
The former chancellor, who left government in 2016, had a bumper pay day for the second year in a row after joining City firm Robey Warshaw in 2021.
The boutique investment bank boosted profits to £31.8m in the year ended March 31, with £27.9m of that eligible to be split between its four partners.
The firm does not pay its partners a salary but gives them a share of the profits each year.
That means the bigger the deals, the bigger the payout for Osborne, 52, and his colleagues.
Most of the cash went to founder Sir Simon Robey.
The rest will be split between other co-founder Simon Warshaw, Osborne and Philip Apostolides.
During the year, Robey Warshaw worked on deals including the £4.25billion sale of Chelsea FC to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital. It also advised on Microsoft’s £59billion takeover of gaming firm Activision Blizzard, which the competition watchdog initially opposed.
***
Read more at DailyMail.co.uk