He was later told that Prime Minister Theresa May was firing him from his roles advising the Government on a number of areas, including its industrial strategy.
He advised on plans for a Swansea city deal and has been working with the Department for Business, Energy and Industrial Strategy.
Lord Heseltine was also a national infrastructure commissioner.
He was one of 366 peers who inflicted a second defeat on the Government's Brexit Bill.
After three hours of heated exchanges, the House of Lords backed amending the European Union (Notification of Withdrawal) Bill by a majority of 98.
Brexit Secretary David Davis accused peers of trying to "frustrate" Britain's exit from the European Union and insisted the Government intends to overturn the result.
He said: "It is disappointing that the House of Lords has chosen to make further changes to a Bill that the Commons passed without amendment.
"It has a straightforward purpose - to enact the referendum result and allow the Government to get on with negotiating a new partnership with the EU.
"It is clear that some in the Lords would seek to frustrate that process, and it is the Government's intention to ensure that does not happen. We will now aim to overturn these amendments in the House of Commons."