But who is Rishi Sunak?
MP for Richmond in Yorkshire considering that 2015, Sunak is the son of Yashvir, an NHS GP, and Usha, a pharmacist, who moved to the UK from Punjab, India inside the Nineteen Sixties.
Born in 1980 in Southampton, Hampshire, he attended the distinguished Winchester College earlier than taking place to study Politics, Philosophy and Economics at Oxford University.
He additionally earned an MBA from Stanford University inside the US, becoming a Fulbright pupil.
Before coming into politics he labored for funding financial institution Goldman Sachs and a hedge fund, then co-founded an investment company.
Seen as a rising megastar within the Conservative Party, he has been touted for the pinnacle seeing that first arriving in Parliament 5 years in the past.
However, on the age of 39, he misses out on being the youngest chancellor of the beyond century through only a single year - George Osborne was 38 while he took price of the Treasury in 2010.
And before his upward push to Chancellor, Tory officers saw he changed into the "ideal in shape" for Johnson's new Cabinet.
One instructed the Financial Times: "Rishi is a superstar, he keeps to the road and proved himself to be a calm, able debater."
This changed into especially shown as he started out to fill in for Mr Johnson in election TV debates.
During the Brexit marketing campaign, he voted to Leave the EU however kept a fairly low profile throughout the 2016 referendum and voted for Theresa May's Brexit deal on all three occasions.
In July 2019, Mr Johnson picked by way of Mr Johnson to be chief secretary to the Treasury, after he had served as parliamentary below-secretary in the Ministry of Housing, Communities and Local Government from January 2018 to July 2019.
In 2009, he married Akshata Murthy, the daughter of Indian billionaire Nagavara Ramarao Narayana Murthy, who co-based business consulting firm Infosys.
The couple have daughters together.