Former treasurer will become chairman of investment bank in Australia and New Zealand and is not expected to run in federal election
The former Australian treasureris expected to confirm this afternoon he will not attempt to return to politics at the next federal election.
Goldman Sachs confirmed on Thursday that Frydenberg is set to become chairman of the investment bank in Australia and New Zealand. Frydenberg joined the companyat the last election to the teal independent, Monique Ryan. Frydenberg has been signalling this direction to close confidantes in recent weeks and is understood to have communicated his intentions to the opposition leader,While Frydenberg is unlikely to close the door on political life permanently, his decision to remain on the sidelines for the foreseeable future represents a sliding doors moment for thebecause it removes a future leadership candidate capable of securing support from both the right and moderate wings.
In a statement issued on Thursday, Goldman Sachs noted Frydenberg “has had a distinguished political career in Australia”. The company said Frydenberg would “focus on further deepening and strengthening client coverage across the Australia and New Zealand region” and “continue to offer advice on economic and geopolitical issues as the firm’s senior regional advisor for Asia Pacific.”
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