Tony Blair, the former prime minister of the United Kingdom , has taken a part-time job in a senior advisory capacity with the investment bank JP Morgan, according to BBC News.

Blair will advise the firm’s senior management team and chief executive, “drawing on his immense international experience to provide the firm with strategic advice and insight on global political issues and emerging trends,” the bank said.

His annual salary for the job was not disclosed, but is estimated by many to exceed $1 million.

“I have always been interested in commerce and the impact of globalization,” Blair told the Financial Times. “Nowadays, the intersection between politics and the economy in different parts of the world, including the emerging markets, is very strong.”

Blair stepped down as prime minister in June 2007 and has been serving as an unpaid envoy for the Quartet of Middle East peace negotiators.

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