Former foreign secretary Lord Hague joins Wall Street giant Citigroup as Brexit looms

William Hague has become the latest prominent figure to join the payroll of a US bank as the UK prepares to quit the EU

The appointment of Lord Hague follows that of Mervyn King, former governor of the Bank of England as senior adviser to Citi in July.

William Hague, the UK’s former foreign secretary, will be joining Wall Street giant Citigroup as senior adviser.

Lord Hague, who quit frontline politics in 2015 and last year campaigned for Britain to remain in the EU, has become the latest prominent figure to join the payroll of a US bank as the UK prepares to quit the EU.

The appointment of Lord Hague follows that of Mervyn King, former Governor of the Bank of England, as senior adviser to the investment bank in July last year.

A spokeswoman for Citi said the bank was “delighted” Lord Hague will be joining the company.

She said: “Lord Hague's experience on the global stage and his profound understanding of the forces shaping the world will be a key asset for Citi.“

Back in October, the bank’s UK boss said the group was contemplating moving some of its 9,000 UK jobs to other EU locations in the case of a hard Brexit.

“If you don't have full access to the single market then there are things you just cannot do from London under EU rules, which would remain in the other EU 27 countries,” James Bardrick, said, according to Reuters.

Lord Hague appointment follows Goldman Sachs’ decision last year to hire José Manuel Barroso, former head of the European Commission, as chairman of its international investment bank.