Eric Cantor's new life outside of politics is underway, as the former House majority leader announced he's been hired by a Wall Street investment bank.
New York-based Moelis & Co. will open an office in Washington D.C., where Cantor will serve as vice chairman and a board member effective this week. Moelus & Co. specializes consulting services for mergers and acquisitions, recapitalizations, restructurings and additional "corporate finance matters."
"In his new role, Mr. Cantor will provide strategic counsel to the Firm's corporate and institutional clients on key issues," the firm said in a statement.
"[Cantor]'s judgment and tremendous experience will expand the capabilities our team brings to clients around the world as he has unique expertise in assessing complex situations and crafting innovative solutions ... Through more than 25 years of political and business experience, Mr. Cantor has emerged as a leading voice on the economy and job creation. During his Congressional career, Mr. Cantor worked to lower taxes, eliminate excessive regulation, strengthen small businesses, and encourage entrepreneurship ... [He] has proven himself to be a pro-business advocate and one who will enhance our boardroom discussions with CEOs and senior management as we help them navigate their most important strategic decisions."
Cantor will continue to live in Virginia and work in Washington.
"I have known [Moelis & Co. Chairman and CEO] Ken Moelis for some time and having followed the growth and success of his firm, I have long admired his vision and leadership," Cantor said Tuesday.
"The new model of independent banks offering conflict free advice, in a smaller more intimate environment, was a place where I knew my skills could help clients succeed."
The Virginia Republican was upset by then-unknown Tea Party candidate Dave Brat during June's primary races.