George Osborne will collect a share of a £28m payout for his work as partner at the City advisory firm Robey Warshaw.
The former chancellor, who orchestrated the austerity drive after the financial crisis, is one of four partners at the Mayfair-based company which announced on Friday it would pay out a total of £27.98m to four men.
Robey Warshaw did not reveal how much Osborne, who joined the company in 2021, would collect.
Most of the money – £20.5m – will go to its cofounder, Sir Simon Robey, who is known as the City’s “trillion-dollar man” for the cumulative size of the mega-deals he has worked on, including advising the Cadbury board on the sale of the chocolate company to its US rival Kraft in 2010.
Robey, a fan of Margaret Thatcher and her deregulation of banking and financial markets in the 1980s, has earned about £175m since he set up Robey Warshaw with his fellow investment banking superstars, Simon Warshaw, an heir of the Molton Brown beauty empire, and Philip Apostolides, in 2013.
Osborne left the government in 2016 after the Brexit referendum and spent three years as editor of the Evening Standard from May 2017. He is the only person to join Robey Warshaw as a partner since its foundation almost a decade ago.
The payout to the four partners was up 6% on last year’s £26.5m. Robey’s pay was up 19% from £17.2m last year.
Profits came in at £31.8m, up from £30.1m a year earlier. Turnover was up £6.2m at £46.1m compared with £39.8m.
The firm advised the National Grid on its sale of its gas transmission business to a consortium led by Macquarie Asset Management, in a deal worth $10.5bn (£8.25bn).
The accounts filed at Companies House on the last working day before Christmas show the firm, which operates out of a townhouse on Grosvenor Square in Mayfair, turned over £341m in the last eight years, but has not paid any tax.
Robey Warshaw said it was not liable for tax because of its structure as a limited liability partnership, and that it is “the responsibility of the individual members to settle any liability arising from their share of partnership profits”.
Robey, a lifelong Arsenal fan, lives at Bramfield Hall, a Grade II-listed, 16th-century country estate in Suffolk, which was owned by the Rabett family for 450 years until Robey spent a chunk of his bonus on it.
