Since retiring from the Diplomatic Service, Pakenham has been chairman of Pakenvest International; senior adviser to Access Industries; non-executive director of the Westminster Group; a trustee of Chevening House; and a lay member of the governing Council of King's College London (and its Vice-Chairman since 2009).
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He served in Nairobi and Warsaw before being seconded to the Cabinet Office 1971–74 as Assistant Private Secretary, then Private Secretary, to the Chancellor of the Duchy of Lancaster (Geoffrey Rippon then John Davies), who at that time had special responsibilities for the co-ordination of British policy towards the European Communities.
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He was born Edward Michael Pakenham, son of Admiral Sir Thomas Pakenham by his wife Louisa, daughter of John Staples and niece of Thomas Conolly of Castletown.