Former British Prime Minister Gordon Brown has been appointed as adviser to global investment management firm Pimco. In the new role, he will be part of that company’s newly formed five-strong group of “world-renowned experts” who will advise on economic and political issues.

Other advisers include former US Federal Reserve chairman Ben Bernanke, and Jean-Claude Trichet, former president of the European central bank, reports BBC.

Policy and markets

The advisory board holds meeting several times a year.

“The global advisory board is an unrivalled team of macroeconomic thinkers and former policymakers, whose insights into the intersection of policy and financial markets will be a valuable input to our investment process,” said Dan Ivascyn, Pimco's chief investment officer.

Brown’ spokesman said the former PM is taking up “a minor advisory role” and there is no financial benefit. “Any money goes to the office of Gordon and Sarah Brown to support their charitable and public service work,” the spokesman added.

Pimco is part of the German asset manager Allianz and administers US$1.47 trillion (approx AU$2.04 trillion) of assets worldwide.

A report in The Guardian said Brown is happy with the new role in Pimco, where he will discuss global economic issues.

“Mr Brown is looking forward to discussing economic events and trends again with Ben Bernanke, Jean-Claude Trichet, Anne-Marie Slaughter and others. Any money goes to the office of Gordon and Sarah Brown to support their charitable and public service work Mr Brown does not receive a penny,” the spokesman said.

In a statement, Pimco noted that the new board members would attend the firm’s annual secular forum in May and assesses the global economic outlook for the next three to five years.

“Together, the board members will contribute their economic, geopolitical, and market expertise and insights to the firm’s investment process,” the statement said.

Focus on education

Observers also highlight the contribution being made by Brown as UN special envoy for global education. Recently, the former prime minister spoke in Dubai on his plans to create a fund for educating one million Syrian refugee children in neighbouring countries such as Lebanon, Turkey and Jordan.

He shared his thoughts on the matter in an article for Washington Post and said the proposed curriculum will be an antidote to the extremist propaganda being spearheaded by Islamic State.

“The curriculum’s focus on peace and reconciliation between religions is an antidote to the extremist propaganda of the Islamic State. The curriculum challenges the narrative of the violent extremists that there is an irreconcilable divide between Muslim believers and the apostate ‘others,” Brown wrote.

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