Rishi Sunak, Britain’s defeated outgoing prime minister, was as soon as an analyst at Goldman Sachs. Rachel Reeves, Britain’s incoming Chancellor of the Exchequer, might have been an analyst at Goldman Sachs too, however she determined towards it.
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Reeves, who’s the UK’s first feminine chancellor, stated she interviewed with Goldman after graduating from Oxford College in 2000. She turned the agency down, however noticed 13 years in the past that she “might have been lots richer” if solely she’d taken Goldman up on its job provide.
After rejecting Goldman, Reeves went on to work as an economist first for the Financial institution of England after which for HBOS, the Scottish financial institution which failed in the course of the monetary disaster. The Parliamentary Fee on Banking Requirements described HBOS’ demise as the results of, “catastrophic failures of administration, governance and regulatory oversight.” Nonetheless, Reeves labored on the retail mortgages staff at HBOS, reasonably than the industrial banking arm, which introduced in regards to the collapse.
Though Reeves sidestepped the trail trodden by Sunak, who went from Goldman Sachs to Stanford Enterprise Faculty to a London hedge fund, she’s not that temperamentally dissimilar to an ex-banker with a hedge fund historical past. She informed the Instances final month that she feels a continuing must show herself, is “actually aggressive” and a “steely resolution maker.” She additionally famous that she’s spent most of her profession working in “male environments.”
If Reeves had accepted the job at Goldman, after which stayed there, she may effectively have been a Goldman accomplice alongside Peter Oppenheimer by now. As a champion junior chess participant, she may additionally have helped Goldman make it by means of to the ultimate rounds of the company chess championship. As a substitute, she’s obtained essentially the most highly effective job in UK finance. Writing on Twitter, Reeves stated changing into chancellor is the “honour of my life.” She intends to assist different girls into senior jobs too. “I’d love there to be a feminine governor of the Financial institution of England earlier than too lengthy,” she knowledgeable the Instances.
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