George Osborne is joining the world’s biggest investment manager Blackrock as a senior adviser, while keeping his seat in Parliament.

The former Chancellor, who was kicked to the back benches after David Cameron’s departure in the wake of the EU referendum, will work part-time for the Blackrock Investment Institute from next month.

He is expected to give his views on European politics, the Chinese economy and pensions, although Blackrock stressed that he will not lobby the UK Government on the firm’s behalf.

“George has a unique and invaluable perspective on the issues that are shaping our world today,” said Laurence Fink, chairman and chief executive of BlackRock. “At the centre of our mission is helping people around the world save and invest for retirement, and George’s insights will help our clients achieve their goals.”

Blackrock did not disclose how much Mr Osborne will be paid in his new position. The MP for Tatton in Cheshire has previously given speeches for the company, including one speaking engagement during a trip to New York in November that earned him more than £34,000.

The talk was part of a lucrative post-government tour of the United States that generated more than £600,000 for the ex-Chancellor in the months after his resignation, according to his register of interests.