Former UK Chancellor George Osborne to become full-time banker

Robey Warshaw was founded by ex-Morgan Stanley (MS) bankers Sir Simon Robey and Philip Apostolides and former UBS (UBSG.SW) dealmaker Simon Warshaw in 2013. The firm has quickly established a reputation as one of the preeminent firms in the bulge-bracket deal space.

In recent years Robey Warshaw has worked on deals including Comcast’s (CMCSA) $39bn takeover of Sky, BP’s (BP.L) $10.5bn (£7.7bn) acquisition of shale assets from BHP Group (BHP.L), and the London Stock Exchange’s (LSE.L) $27bn takeover of data provider Refinitiv.

Advising on such blockbuster deals has helped the firm make profits of over £200m since its founding. Profits are shared between the company’s three partners. The highest paid partner took home £10m last year and £27.7m the year before that.

Details of Osborne’s pay arrangements were not shared and a spokesperson declined to comment. Osborne, who was chancellor from 2010 until 2016, will be entitled to a profit share as a new partner.

“We remain hugely ambitious about our company’s future and believe that George will help expand our reach, and what we can offer our clients without changing the philosophy or ethos of our firm,” the Robey Warshaw spokesperson said.

Despite its work on major deals, Mayfair-based Robey Warshaw remains small. The firm employs just 12 professionals who advises on deals, supported by 15 administrative staff.