Macquarie Bank has announced the prize signing of Bob Carr as a part time consultant. The former premier of New South Wales, Australia's most populated state, will work with Macquarie's investment banking group and will occasionally advice the firm on policy and strategic issues.

Carr's advising brief will focus on both the domestic and international space, with Australia's largest investment group looking to the former politician to provide specialist knowledge on the US, China and Europe.

According to Nicholas Moore, Macquarie's head of investment banking group, Carr's consultant role will leverage off his strong intellect, policy understanding and strategic skills and ultimately assist in developing the firm's global businesses.

Carr's arrival at Macquarie on a part time basis follows his resignation this August as premier of New South Wales, a post he had held for 10 years. During his office, Carr was heavily involved in Sydney's 2000 Olympic success and clocked in the longest continuous term for any New South Wales premier.

Prior to taking on the state's top job, Carr held numerous cabinet positions in New South Wales including the minister for heritage and the minister of planning and environment. Prior to his political career in the Australia Labor Party, Carr was a journalist for ABC radio and The Bulletin magazine.