Rishi Sunak

Rishi Sunak has been appointed as the new Finance Minister of the United Kingdom.

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On February 13, 2020, Rishi Sunak, 39, became the Chancellor of the Exchequer within the Government of the United Kingdom and Head of Her Majesty’s Treasury.

His appointment as Chancellor comes in the wake of Sajid Javid, the previous Chancellor, resigning in protest against his opposition to PM Boris Johnson, putting pressure on him to sack all his advisors that would enable the PM to exercise greater control over the Exchequer.

Sajid Javid had experienced frequent face-offs with Dominic Cummings, PM Johnson’s senior advisor, on cutting spending and other related matters. It came to a point where Sajid Javid left with no choice but to resign.

PM Boris Johnson then turned to his Chief of Treasury, Rishi Sunak, to take over as the Chancellor, as he was both familiar with prevailing conditions within and outside of the government, and enjoyed good personal equation with the levers of power including 10 Downing Street.

Rishi Sunak’s early days and personal interests

Rishi Sunak was born to Yashvir and Usha Sunak on May 12, 1980, in Southampton, Hampshire. Rishi’s grandparents were from Punjab in India, who migrated to East Africa. In the early 60s, the family moved to the United Kingdom.

Rishi Sunak’s father, Yashvir, was a Doctor (General Practitioner), and his mother, Usha, a pharmacist who ran her pharmacy store. Rishi is the eldest of three siblings.

School days were at Winchester College, an all-boys boarding school. Good at studies and all-round participation in activities, Rishi was appointed the Head Boy at school.

Post-school, he completed his under graduation in Politics, Philosophy and Economics (PPE) from Lincoln College before heading off on a Fulbright Scholarship to Stanford University in the US to join the Master’s program in Business Administration (MBA).

Rishi career begins

He began his career in 2001, working as an analyst at investment bank Goldman Sachs where he worked for four years.

In 2004, having learned the intricacies of investment banking, he joined The Children’s Investment Fund Management, a hedge fund management company. Within two years, he performed his way to a Partner position. Rishi was now a master of investment management and finance.

In November 2009, he quit the firm to join his colleagues in founding a $700 million hedge fund named Theleme Partners, in October 2010.

He also served as a Director in Catamaran Ventures, a firm promoted by his father-in-law.

Rishi Sunak grew up a fan of cricket and staunchly loyal to FC Southampton. During his days at Stanford University, young Rishi met Akshata Murthy, daughter of Sudha and NR Narayana Murthy, founder of Indian IT firm Infosys.

Friendship turned into marital bliss, and the doting couple is now proud parents to two wonderful daughters.

How Rishi made it to the heart of the UK Government?

By 2014, Rishi had made a name for himself within his community and business circles. He had helped several small firms grow their businesses, and they relied on him for sincere advice when needed.

In 2015, William Hague, a long-time Conservative MP from Richmond, Yorkshire, and leader of the Conservative Party, decided not to contest the elections. Rishi Sunak’s growing list of admirers egged him to contest the elections, which he fought and won by 19,950 votes.

From 2015-2017, he matured as a politician serving the Environment, Food and Rural Affairs Committee as a member.

In 2016, Rishi took a stand in support of Brexit, paving the way for his re-election in 2017, where he polled higher votes than in 2015.

On 24 July 2019, PM Johnson reposed faith in him appointing him Chief Secretary to the Treasury. He also joined the Privy Council, both positions giving him access to the inner circle of the government.

The sudden resignation of Chancellor Sajid Javid paved the way for Rishi Sunak to take over as Chancellor of the Exchequer.

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Who is Rishi Sunak?
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Who is Rishi Sunak?
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Rishi Sunak is a British politician who has been appointed as the new Chancellor of the Exchequer within the Government of the United Kingdom and Head of Her Majesty’s Treasury.
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