Former prime minister Gordon Brown is to join the board of asset manager Pimco as an adviser.
He will attend board meetings – chaired by former Federal Reserve chairman Ben Bernanke – and make a speech at the firm’s annual ‘secular forum’, the Financial Times reports.
Pimco would not disclose how much it will pay Brown but his spokesman confirmed his entire salary will go to the Office of Gordon and Sarah Brown “to support their charitable and public service work. Mr Brown does not receive a penny.”
The spokesman adds: “Mr Brown is looking forward to discussing economic events and trends again with Ben Bernanke, Jean-Claude Trichet, Anne-Marie Slaughter [international lawyer and policy expert] and others.”
Pimco, which has around $1.5trn of assets under management, was founded by Bill Gross, who left earlier this year.
In October it was revealed Gross is suing the firm for “hundreds of millions of dollars” on the grounds he was pushed out the business.