Jacob was born in May 1969 and was brought up in Somerset at Ston Easton and Hinton Blewett. He was elected as the Member of Parliament for North East Somerset in May 2010, with a majority of 4914 and again in May 2015 with an increased majority of 12749. Being elected fulfilled his ambition to represent the Somerset parliamentary seat in which his family has lived for generations.
Jacob has served on the Treasury Select Committee which examines the expenditure, administration and policy of HM Treasury, HM Revenue & Customs, and associated public bodies, including the Bank of England and the Financial Conduct Authority. Between 2010 and 2015 Jacob sat on the Procedure committee which considers the practice and procedure of the House in the conduct of business and the European Scrutiny Committee which assesses the legal and political importance of each EU document, deciding which is debated within the House.
Jacob read History at Trinity College Oxford, before moving into finance being based in Hong Kong and later moving back to London. He set up his own company in 2007 with a group of Partners, it is called Somerset Capital Management and specialises in investment management in global emerging markets for institutional clients.
Jacob is a cricket enthusiast and has supported Somerset County Cricket Club since he was a child. He lives in West Harptree with his wife Helena and their five young children.