Hakluyt Chief Varun Chandra Poised for Key Role in Labour’s New Business Strategy

Hakluyt CEO Varun Chandra is poised to assume a key Labour business position, possibly as the senior business advisor at 10 Downing Street, according to Sky News. Chandra has been at the helm of the corporate intelligence company since 2019.

City editor @MarkKleinmanSky

Tuesday, July 9, 2024, 10:

The head of Hakluyt, a corporate intelligence company, is being considered for a prominent position in Sir Keir Starmer’s emerging Labour leadership.

Sources have revealed to Sky News that Varun Chandra, who has served as the managing partner of Hakluyt since 2019, is currently in detailed discussions about taking a position within the government.

Insiders revealed that he is expected to step into a prominent business engagement position at 10 Downing Street, a position previously held by Lord Petitgas, the ex-Morgan Stanley banker, during Rishi Sunak’s tenure.

Similar to Lord Petitgas, Mr. Chandra is a former Lehman Brothers banker who subsequently founded the regulated business ventures of Tony Blair, the ex-prime minister.

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Hakluyt is a private company focused on providing corporate intelligence services, a sector that has grown profitable amid the challenging geopolitical landscape faced by global businesses.

Labour insiders warned on Tuesday that Mr. Chandra's specific role was still under consideration, and he might be appointed to a different position, such as the investment minister role previously occupied by Lord Johnson in the prior administration.

Although the latter role might include a peerage, it was not certain if the Downing Street business liaison position would offer the same.

The global advisory board of Hakluyt is headed by Lord Hague, who previously led the Conservative Party and served as the Foreign Secretary. Additionally, Olly Robbins, who was the principal negotiator for Brexit under Theresa May, is employed by the company.

Should Mr. Chandra enter into a governmental position, he would be required to either divest from his stake in Hakluyt or manage it through a blind trust or a similar arrangement.

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Hakluyt remained silent on the matter, and Downing Street did not reply to requests for comment.

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