Tony Blair is joining one of the Wall Street’s best-known banks in what the former UK prime minister told the FT would be the first of a series of positions he expects to take in the private sector. Blair, who stepped down as prime minister last year, is to become a part-time adviser to JPMorgan, where he will use his experience and contacts to provide political and strategic advice to the US bank and participate in some client events. Blair’s income from the job has not been disclosed, although recruitment consultants say it is likely to be more than $1m a year. Jamie Dimon, JPMorgan’s chief executive, said Blair would be “enormously valuable” to the company. Since leaving office, Blair, who is believed to have a large mortgage on a London house, has joined the international conference circuit. He was paid $500,000 for one speech in China. His move comes a month after Jonathan Powell, his former chief of staff, landed a full-time job with JPMorgan’s rival, Morgan Stanley.

This entry was posted by Gwen Robinson on Thursday, January 10th, 2008 at 5:49 and is filed under Capital markets, People. Tagged with jpmorgan, tony blair. Edit this entry.