FAREHAM MP Mark Hoban is leaving his role as MP for Fareham and taking up a city job paying £250 per hour.
The Tory MP said he did not intend to stand for re-election in May in an announcement last week.
Yesterday, the former employment minister confirmed that he will be taking up a role advising international financial information services company Markit Group, which has a base in London.
Mr Hoban said: ‘It is a job that I have been recruited for and one that I am very much looking forward to doing.’
His new job will pay him £4,000 a month for four hours per week, according to his latest entry in the Commons’ register of members’ interest.
Mr Hoban has been MP for Fareham, a Tory safe seat, for the last 14 years.
In his resignation letter to Tom Fyfe, the chairman of Fareham Conservatives, Mr Hoban said: ‘It is time to move on and embrace new opportunities.
‘Whoever succeeds me in Fareham will, as I have, love both the place and the people.’
The Conservatives are drawing up a list of their prospective parliamentary candidates, which will be finalised next month.