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Josh Frydenberg accepts adviser role with Goldman Sachs

The former Treasurer has pivoted away from politics following his electoral defeat, being named to a senior position with the global finance institution.

As highlighted by a public statement made by Goldman Sachs on Thursday (21 July), Mr Frydenberg has been appointed as a senior regional adviser for the Asia-Pacific region. 

In the statement, Goldman Sachs did not name the former Treasurer and former member for Kooyong’s responsibilities. However, the investment bank did praise Mr Frydenberg’s political history and tenure during the COVID-19 pandemic. 

“Josh has had a distinguished political career in Australia, most recently serving as the Federal Treasurer, where he was widely recognised for his effective management and leadership of the country’s economy during the COVID-19 pandemic,” Goldman Sachs said. 

Mr Frydenberg was elected to the Australian House of Representatives in 2010 for the inner Melbourne seat of Kooyong. 

Between August 2018 and May 2022, he was the Treasurer under the Morrison government. 

Under the Abbott ministry, Mr Frydenberg was the Assistant Treasurer from December 2014 to September 2015.  

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The financial services institution also noted how Mr Frydenberg possesses Law and Economics degrees from Monash University, as well as a Masters in International Relations from Oxford University and a Masters in Public Administration from Harvard University’s Kennedy School of Government.

“Josh was a senior adviser to Prime Minister John Howard and was also previously a director of global banking at Deutsche Bank,” the investment bank also said. 

Goldman Sachs Asia Pacific Ex-Japan co-president, Kevin Sneader, elaborated on this, noting that Mr Frydenberg’s economic and political experience will benefit the investment bank. 

“We are fortunate to bring to Goldman Sachs a person of Josh’s deep public and private sector experience, connectivity and insight,” Mr Sneader said. 

“His significant understanding of geopolitical and economic issues will bring considerable value to our clients across the region and beyond.”

Goldman Sachs’ chief executive officer for Australia and New Zealand Simon Rothery added: “Our Australian clients will greatly benefit from Josh’s insights and expertise that have been gained from an impressive career which includes experience and perspectives across a range of sectors.”

Speaking of his new role, Mr Frydenberg commented that he was looking forward to contributing his experience to the firm moving forward. 

“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. 

“I look forward to joining the team and contributing to the firm’s leadership, its global capability, and its strength of client franchise.”

[Related: FinTech Australia names former Treasury adviser as Policy Lead]

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