A London-based multi family office today announced the appointment of a former UK secretary of state to its advisory board.
David Blunkett, secretary of state in Tony Blair's Labour government from 2001 to 2004, has joined Oracle Capital. Blunkett said in a statement: "I am looking forward to offering insights from a lifetime of engagement in both the public arena and private and social entrepreneurship."
Oracle manages the assets of 50 families and has $1.1 billion (€831.4 million) under management. It has undergone rapid growth in the past year – setting up its advisory board, launching an alternative investment fund and the Oracle Charitable Foundation, and starting London's first legal brokerage to connect high-net worth individuals with specialist lawyers.
The chairman of Oracle's advisory board, Martin Graham, said: "[David] brings a huge wealth of experience from his time both in government and opposition. He will add to the already considerable pool of talent that we have."
Blunkett resigned as secretary of state in 2004 following a scandal surrounding a visa application for his former partner’s nanny – although he was never found to be at fault.
He remains an MP for the Sheffield Brightside and Hillsborough constituency and is visiting professor in the University of Sheffield's politics department.