Britain's Mandelson joins investment bank

21st January 2011, Comments 0 comments

Former British Labour politician Peter Mandelson, a senior cabinet minister in the governments of Tony Blair and Gordon Brown, has joined New York investment bank Lazard as a senior adviser, the bank said Friday.

Nicknamed "The Prince of Darkness" by opponents for his behind-the-scenes influence in Labour politics, Mandelson, 57, was Brown's de facto deputy until the party lost control of the government in the May 2010 general election.

He held four cabinet positions under Blair and Brown, the most recent first secretary of state and business secretary.

He was also Europe's trade commissioner from 2004-2008.

In his new position he will "provide independent strategic counsel" to Lazard and its clients, the bank said in a statement.

"Lord Mandelson has exceptional experience and acumen in business and public affairs. I believe his counsel will be invaluable to our clients and colleagues in Europe and worldwide," said chief executive Kenneth Jacobs.

Currently a member of the House of Lords, Mandelson published a gossipy book last year shortly after Labour gave up power.

"The Third Man" detailed his role between feuding Blair and Brown over the 1990s and 2000s.

© 2011 AFP

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