George Osborne has boosted his personal fortune since leaving politics, joining a trio of investment bankers who split £30m after making record profits at Ruby Warshaw, the influential consultancy firm in the city where he works.
The Mayfair-based company’s accounts reveal that profits rose to £70m in the 12 months to the end of March, a significant increase from £31.8m the previous year.
The lion’s share of £40.5m went to one individual, believed to be Sir Simon Robbie, the company’s co-founder and one of the city’s most powerful dealmakers.
The remaining £29.5 million was split between Osborne and two other partners, Simon Warshaw and Philip Apostolides.
This represents the latest in a string of lucrative earnings for Osborne since stepping down as an MP in 2017. Before joining Ruby Warshaw in 2021, he worked as a consultant at BlackRock, the US investment giant, where he earned £650,000 a year for a portion of He entered it. The role of time. Osborne has also held positions as editor of the Evening Standard and chairman of the Northern Powerhouse Partnership think tank.
Osborne spent 16 years in Parliament, including six years as chancellor, before being replaced by Theresa May in 2016 when she became Prime Minister. During his tenure at the Treasury, he was the main 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 because it was the first time the boutique firm had added a new partner since it was founded in 2013 by Robey, Warshaw and Apostolides – all experienced bankers from major City firms.
Since its inception, Robey Warshaw has built a reputation as one of the most trusted advisors to Britain’s largest companies, having been involved in numerous high-profile takeover deals. Notably, the firm advised SABMiller during its $100 billion sale to Anheuser-Busch InBev in 2016 – the largest acquisition ever by a British company.
More recently, the firm advised Direct Line, the insurer fending off takeovers, and was involved in the attempted takeover of The Telegraph newspaper by Abu Dhabi-backed Redbird IMI, believed to be an Osborne client.
Osborne, a Chelsea fan, also advised US billionaire Todd Buhle on his £4.25bn takeover of the club two years ago.
Robbie Warshaw declined to comment on the accounts.