FORMER chancellor Sajid Javid has followed the well-worn path of  his predecessors into banking by accepting a paid job with JP Morgan, it emerged today.

But concerns have been raised over “obvious” conflicts of interest as he will remain an MP.

Mr Javid, who had worked for the bank in the 1990s before going into politics, has been appointed senior adviser on the US bank’s advisory council for Europe, the Middle East and Africa. 

The bank would not disclose his salary but confirmed he would be paid. JP Morgan also claimed that the role would be “ring-fenced” from his MP work.

Before becoming an MP for Bromsgrove in 2010, he also worked for Deutsche Bank where he reportedly earned £3 million a year.

Former Labour PM Tony Blair was appointed a senior adviser to JP Morgan in 2008, earning a reported £2m a year, after leaving office the year before.

Mr Blair’s chancellor Gordon Brown became a global advisory board member of investment firm Pimco in 2015, and Alistair Darling — former Labour chancellor under Mr Brown —  joined Morgan Stanley’s board of directors that year.

Former Tory chancellor George Osborne joined investment management company Blackrock in 2017 to earn £650,000 for 48 days’ work a year, while holding eight other jobs including editing the Evening Standard.

His successor Philip Hammond joined private equity firm Buckthorn Partners earlier this year.

Mr Javid’s constituents believe he will now spend “even less time supporting the town,” the Bromsgrove Standard reported.

Independent councillor Kate Van Der Plank said that she was “very concerned.”

She added: “Apart from the obvious conflict of interest, I would have thought at the moment with Covid, Brexit and general state of government he needs to be fully focused on his day job.”

Mr Javid’s office said: “Representing his constituents is and always will be Sajid’s first priority.

“It is not unusual for backbench MPs to take on advisory roles. This has a time commitment of approximately 10-12 days a year.”

Mr Javid left Downing Street in February following a power struggle with PM Boris Johnson’s chief adviser Dominic Cummings, who suggested that he fire all of his aides.

He was swiftly replaced by his underling Rishi Sunak.

JP Morgan said no privileged information from his time in other government roles such as culture secretary, business secretary and home secretary will be shared with the company.

Mr Javid’s new job has been approved by the Cabinet Office’s advisory committee on business appointments, which regulates new jobs for former ministers and senior civil servants.