Tony Blair has become a senior adviser at US bank JPMorgan Chase, it has been confirmed today.
The former British prime minister will take on the role immediately and will also join the company's international council.
Mr Blair is also a peace envoy to the Middle East and will combine these roles during 2008.
In a statement, the American financial giants said it would be looking to draw on the former Labour leader's "immense international experience to provide the firm with strategic advice and insight on global political issues and emerging trends".
He will advise the company's chief executive Jamie Dimon and other senior officials and will be involved in some company briefings and conferences.
"We're honoured that Tony Blair has chosen to join JPMorgan Chase as a senior advisor to our executive team and board," Mr Dimon said.
"We operate our business all over the world, and Tony Blair will bring our leaders and clients a unique and invaluable global perspective that is especially critical in turbulent times like these. Our firm will benefit greatly from his knowledge and experience."
Mr Blair stepped down as the UK's prime minister last summer after ten years at the helm, being replaced by his long-time chancellor Gordon Brown.
The 54-year-old said he saw the link-up with the US firm as a "great opportunity" to contribute to its work internationally.
"They are a leading company at the cutting edge of the global economy, with a footprint in virtually every part of the world," he said.
"I look forward to advising them on how they approach the huge political and economic changes that globalisation brings. I am excited at the prospect of joining Jamie Dimon, for whom I have a lot of respect, and the whole team, adding my own experience to their work and helping them to grow."
The role could be worth as much as £500,000 a year to the former prime minister, estimates suggest.