George Osborne bags Russian aluminium giant Rusal’s deal as investment banker for advisory firm Robey Warshaw

The former British Chancellor of the Exchequer George Osborne has cracked his first deal as an investment banker with the metal company that was once chaired by Russian oligarch and industrialist Oleg Deripaska.

In April, George Osborne joined boutique advisory firm Robey Warshaw and with gratitude, to his contacts the firm is now advising the world’s leading low carbon producer, Rusal.

The Russian aluminium giant Rusal is a subsidiary of London listed EN+ Group, a company founded by magnate Oleg Deripaska in 2002.

Deripaska was already familiarised with the former Chancellor, having hosted him on his yacht off Corfu in 2008. However, as per our report, it was recognition of his relationship with Greg Barker, EN+ chairman, that he was able to bag the deal.

Lord Barker served as a minister in the former British Prime Minister David Cameron's coalition government before leaving the Commons in 2015 and taking a rank as well as a role at the company.

EN+ and Rusal were thumped by US government sanctions in 2018 over accusations of ties to the Putin regime. In a deal mediated by Barker in 2019, Deripaska relinquished day-to-day control of EN+ in return for the sanctions being lifted. It is believed that he retains a 44.95% stake in the company.

The account of Rusal will bring relief to Robey Warshaw which had missed out on the summer takeover boom in the City.

Osborne handed over editorship of the Evening Standard and a line of high-profile jobs to become a banker, although having no previous experience.

Sir Simon Robey, a former Morgan Stanley banker and former chairman of the Royal Opera House, and Simon Warshaw, a former UBS banker founded Robey Warshaw in 2013.