Cantor Joining New York Investment Bank As Vice Chairman

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File photo of Eric Cantor. (credit: SAUL LOEB/AFP/Getty Images)

File photo of Eric Cantor. (credit: SAUL LOEB/AFP/Getty Images)

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NEW YORK (CBSDC/AP) — Former House Majority Leader Eric Cantor is joining investment bank Moelis & Co. as vice chairman and managing director.

Cantor — who had a surprising loss to David Brat in Virginia’s June primary — will also become a board member, the New York company said Tuesday.

“Eric’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,” Ken Moelis, the investment bank’s CEO, said in a statement. “Eric 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.”

As part of his responsibilities, Cantor will provide counsel to corporate and institutional clients. He will also be active in client development and advise clients on strategic matters.

“When I considered options for the next chapter of my career, I knew I wanted to join a firm with a great entrepreneurial spirit that focused on its clients. I have known Ken for some time and having followed the growth and success of his Firm, I have long admired his vision and leadership. 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,” Cantor said in a statement.

Cantor had been U.S. Representative for Virginia’s 7th Congressional District. He served in the House of Representatives from 2001 to 2014.

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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