The former head of the International Monetary Fund, Rodrigo Rato, will join investment bank Lazard from February 1, the bank said on Tuesday. Rato, also a former Spanish economy minister, will work as senior managing director of investment banking in an executive role, reporting to Lazard Chairman and Chief Executive Bruce Wasserstein.
A similar role is held by Vernon Jordan, a previous advisor to former US president Bill Clinton. "Mr Rato brings an abundance of economic knowledge and relationships in both the private and public sectors due to his rich history of high profile finance positions," Wasserstein said in a statement.
Rato's posting ends speculation that he could return to Spanish politics and take a senior role in the conservative Political Party as they try to win back power in general elections due in March.
Rato, who left the IMF on November 1, said in October he would not return to politics but there has been talk he might be persuaded back in the end, or that he could join a big Spanish bank like La Caixa or BBVA. In a statement, Lazard said Rato would be based in Madrid and London.
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