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Former U.S. House Majority Leader Eric Cantor is joining a Wall Street investment bank as vice-chairman and managing director.

Cantor, 51, who served as the Republican congressman for Virginia’s 7th Congressional District, also will be elected to the board of directors of the global investment bank, Moelis & Company, the bank announced Tuesday.

Cantor will be based in the bank’s New York office and is scheduled to open an office in Washington.

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“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,” Ken Moelis, chairman and CEO of Moelis & Company, said in a statement.

After a career in the Virginia legislature, Cantor was elected to the U.S. House of Representatives in 2000 and was made chief deputy whip just two years later, before his 40th birthday.

Cantor, who was the sole Jewish Republican in Congress, was as majority leader the most senior Jewish lawmaker in U.S. history and had ambitions of becoming speaker of the U.S. House of Representatives.

Little-known college professor, David Brat Cantor, who had the national backing of the insurgent Tea Party movement, defeated Cantor in the primary in June. Brat accused Cantor of betraying conservative principles on spending, debt and immigration.

Cantor stepped down from his position as House majority leader and from his congressional seat on Aug. 18.

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