Former federal treasurer Josh Frydenberg has a new job – revealing he has joined investment firm Goldman Sachs.
Mr Frydenberg, who lost his Melbourne seat of Kooyong to independent Monique Ryan at May’s federal election, will be the firm’s senior regional adviser for Asia and the Pacific.
“I am pleased to join Goldman Sachs, which is the pre-eminent mergers and acquisitions and capital markets adviser to clients globally,” Mr Frydenberg said on Thursday.
“I look forward to joining the team and contributing to the firm’s leadership, its global capability, and its strength of client franchise.”
Mr Frydenberg – the former deputy leader of the Liberal Party and once touted as a future prime minister – was the highest-profile Coalition MP to lose his seat to one of the so-called teal independents in May.
He was elected to federal parliament in 2010 and also held the environment and energy and resources portfolios, among others, during more than a decade in politics.
He has kept a low profile since announcing a day after the election that he had phoned Dr Ryan to formally concede his Kooyong loss. At the time, he said he had given his role as an MP his all – and that he looked forward to spending more time with his family.
There were reports in recent weeks that Mr Frydenberg, 50, was being considered as a replacement for outgoing AFL chief executive Gillon McLachlan.
The former treasurer – who is a passionate footy fan, and the No.1 ticket-holder at Carlton – refused back in June to give more details.
“All I’m saying is that I’m going into the private sector,” he told SEN, although he repeatedly refused to rule out a tilt at Aussie rules’ top job.
“I’m not commenting either way on anything.
“All I’m saying is I’m looking at different private sector options and I’ve got a lot of options.”
Goldman Sachs’ Asia-Pacific co-president Kevin Sneader said the investment firm was fortunate to sign “a person of Josh’s deep public and private sector experience, connectivity, and insight”.
“His significant understanding of geopolitical and economic issues will bring considerable value to our clients across the region and beyond,” he said.
The company’s Australian CEO, Simon Rothery, said clients would benefit from the former treasurer’s “insights and expertise … gained from an impressive career”.