In June 2014, in his bid for reelection, Cantor lost the Republican primary to economics professor Dave Brat in an upset that greatly surprised political analysts. In response Cantor announced his early resignation as House Majority Leader, and several weeks later announced his resignation from Congress, which took effect on August 18, 2014. Immediately thereafter, Cantor accepted a position as vice chairman of investment bank Moelis & Company.[3]
Precisely.