Ex-top Republican Eric Cantor takes Wall Street gig
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Ex-top Republican Eric Cantor takes Wall Street gig

Former House majority leader to work for investment bank in New York after being ousted in primary election

US House of Representatives Majority Leader Eric Cantor (CC BY/Gage Skidmore/Flickr/File)
US House of Representatives Majority Leader Eric Cantor (CC BY/Gage Skidmore/Flickr/File)

The former US House majority leader, Republican representative Eric Cantor, is going to work on Wall Street, his new employer said Tuesday.

Cantor, 51, will be vice chairman and managing director at Moelis & Company, a small investment bank. He will also be elected to its board of directors, the bank said in a statement.

Cantor, an establishment heavyweight, shocked the US political world back in June when he lost to an even more conservative but virtually unknown Tea Party-backed challenger in a primary election in the state of Virginia.

He announced last month he would resign from his seat.

After a political career spanning 25 years, Cantor had become the second most powerful Republican in the House of Representatives.

“In his new role, Mr. Cantor will provide strategic counsel to the Firm’s corporate and institutional clients on key issues. He will play a leading role in client development and advise clients on strategic matters,” the bank statement said.

Moelis is a small investment bank with about 500 employees and a market capitalization of $550 million.

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