FORMER Federal Treasurer Josh Frydenberg has accepted a senior position in the private sector, joining top-tier investment bank Goldman Sachs, after losing his seat in Parliament in May’s federal election.
Before the election, when people were talking about Frydenberg as possibly the next Liberal leader, or maybe even prime minister, he was asked by The AJN about his options “if things don’t go as planned for the government”. At the time, he said, “I’m very focused on winning my seat, continuing as treasurer.”
But not only was the Morrison government defeated, but “teal” candidate Monique Ryan ensnared her former Liberal seat of Kooyong. Since then, speculation had been buzzing about what Frydenberg, who just turned 51, would do outside of parliament.
Now, the 2018-22 Australian Treasurer has taken on the role of Senior Regional Advisor for Asia-Pacific for Goldman Sachs.
Contacted by The AJN this week, Frydenberg said, “In my new role at Goldman Sachs, I really look forward to working with leading companies as they navigate a very challenging global economic environment.”
Goldman Sachs Asia Pacific President James Sneader said, “We are fortunate to bring to Goldman Sachs someone with Josh’s deep experience, connectivity and insight in both the public and private sectors. His deep understanding of geopolitical and economic issues will bring tremendous value to our clients throughout the region and beyond.
Frydenberg brings depth to his new role, having worked in investment banking for Deutsche Bank. Educated at Mount Scopus Memorial College, Frydenberg holds law and economics degrees with honors from Monash University and completed articling at the law firm Mallesons Stephen Jaques. He holds a master’s degree in international relations from Oxford University and a master’s degree in public administration from Harvard.
Beginning a career in politics, he worked as a senior adviser to former Prime Minister John Howard. Entered Parliament after his election in Kooyong in 2010, he served as Minister of Environment and Energy; Minister for Resources, Energy and Northern Australia; adjunct treasurer; and Parliamentary Secretary to the PM after the 2013 elections.
In 2018, when Scott Morrison became prime minister, Frydenberg was elected deputy Liberal leader and was named treasurer.
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