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BlackRock announced in January that Osborne would work as a
part-time senior adviser to the BlackRock Investment Institute,
an arm of the asset manager that serves as a think tank on
investment strategy.
Osborne, who was finance minister for six years before he lost
his job following Britain's vote to leave the European Union
last year, spearheaded an austerity drive by the
Conservative-led government following the global financial
crisis.
He will advise BlackRock on European politics, Chinese economic
reform, and the impact of low investment yields and other trends
on retirement planning.
Members of parliament are required to publish details of their
outside earnings. In the latest update Osborne said of his
BlackRock role: "I expect to be paid 162,500 pounds a quarter in
return for a quarterly commitment of 12 days. I also expect to
receive registrable equity in BlackRock in the future."
That means Osborne will earn 13,000 pounds a day.
Osborne, whose appointment continued a long tradition of
high-profile political appointments to financial firms, has
already received hundreds of thousands of pounds for speaking
engagements at financial institutions since he left office.
Former prime minister Gordon Brown sits on the global advisory
board at investment manager Pacific Investment Management Co (Pimco)
<ALVG.DE> as does former U.S. Federal Reserve Chairman Ben
Bernanke.
Brown's predecessor Tony Blair joined JPMorgan Chase & Co <JPM.N>
in 2008 shortly after leaving office, while former British
foreign minister William Hague is a senior adviser to Wall
Street bank Citigroup Inc <C.N>.
($1 = 0.8232 pounds)
(Reporting by Kylie MacLellan; editing by Guy Faulconbridge and
Michael Holden.)
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