Gordon Brown To Advise Top Investment Firm

Gordon Brown has taken a job as an adviser at global investment firm Pimco.

The former Labour prime minister will advise the company on economic and political issues, the company said.

Mr Brown joins four other leading international figures on Pimco's advisory board, including Ben Bernanke, former chair of the US Federal Reserve, and Jean-Claude Trichet, former president of the European Central Bank.

A spokesman for Mr Brown said: "Any money goes to the office of Gordon and Sarah Brown to support their charitable and public service work. Mr Brown does not receive a penny."

The former premier is expected to attend several meetings a year at Pimco's Newport Beach office in California as well as an annual forum to discuss the global economic outlook.

Dan Ivascyn, Pimco's group chief investment officer, said: "The global advisory board is an unrivalled team of macroeconomic thinkers and former policy makers, whose insights into the intersection of policy and financial markets will be a valuable input to our investment process."

Mr Brown announced last year that he was bowing out of Westminster at the May general election and would instead focus on charity work and his role as a United Nations envoy.

He returned to the UK political fray last month when he warned that George Osborne's planned tax credit cuts - later withdrawn - would help land the country with "one of the biggest poverty problems in the western world".

During the summer he made an intervention in the Labour leadership election when he warned of the consequences of Labour becoming a "party of protest" after it became clear that left-winger Jeremy Corbyn was the front runner in the contest.