Yahoo News Fund Giant Blackrock Courts Top Osborne Aide
George Osborne's top economic aide is in talks to join Blackrock, the world's biggest money manager.
Sky News can exclusively reveal that Rupert Harrison, who has been a leading architect of Government policy since 2010, is being courted by the US firm, which manages more than $4.7trn (£3trn) in assets globally.
The talks between Mr Harrison and Blackrock are at a detailed stage but are thought to be several weeks away from a formal announcement.
A person familiar with the discussions between them cautioned that it was possible that they could terminate without an agreement, and said it was unclear whether he was also talking to other prospective employers.
The nature of Mr Harrison's proposed role was also unclear on Saturday, although the insider said that it would be a senior position befitting his experience at shaping economic policy during the last parliament.
Part of the reason that the talks have not yet concluded is the existence of rules dictating moves to the private sector by Whitehall officials, the insider added.
Highly regarded inside the Government and in international financial circles, Mr Harrison had been expected to leave his role at the Treasury as Mr Osborne's chief of staff to pursue a career in the City, regardless of the outcome of this month's General Election.
He was previously linked with a move to Lansdowne Partners, the influential investment firm which is jointly headed by Pete Davies, who performed the role of best man at Mr Osborne's wedding.
The news of his discussions emerged on the same day that the Chancellor announced that he would deliver a second Budget of 2015 - and the first of his political career without Mr Harrison's input - on July 8.
Mr Harrison recently denied speculation that he would join a hedge fund, although his talks with Blackrock will nevertheless underline perceptions of a revolving door between the Conservative Party and high finance.
Last year, a pay rise which took Mr Harrison 's salary to £95,000 attracted criticism from a tabloid newspaper, but he is likely to command a deal worth several times that sum in the City.
Frequently labelled one of the most powerful unelected figures in government, Mr Harrison has played a critical role shaping the Chancellor's response to the 2008 financial crisis, including the approach to offloading taxpayers' stakes in banks such as Northern Rock and Lloyds Banking Group.
He has also been tipped to pursue a future political career, which a stint in the City would not necessarily preclude.
If he does join Blackrock, Mr Harrison would be signing up to one of the most important firms in global finance.
By virtue of its sheer scale, Blackrock wields enormous influence around the world, employing thousands of people in London and across Europe.
Larry Fink, the firm's chairman and chief executive, led a major deal in 2009 to buy Barclays' asset management arm, and is regarded as one of the most important figures in the global economy.
Blackrock has hired other significant figures from public office, including Philipp Hildebrand, the former chairman of the Swiss National Bank, who is now a vice-chairman of the asset management giant.
Blackrock declined to comment on Saturday, while Mr Harrison could not be reached for comment.
