Chuka Umunna has been hired by JPMorgan to head up its environmental, social and governance (ESG) work in Europe, the Middle East and Africa.
The newly created role will pull together all the existing client-facing ESG efforts across the banking business in the region.
The appointment was announced within the bank in a memo seen by City A.M.
The hiring makes Umunna one of Britain’s most senior Black bankers. He joins JPMorgan from PR company Edelman, where he co-led its ESG consultancy.
The Change UK founder has over 20 years experience managing private and public sector ESG issues at a senior level, which includes eight years managing ESG factors (employee related issues) on M&A transactions as a solicitor.
Umunna was once tipped as the next Labour leader, but left the party after a fierce row over the party’s stance on Brexit and shift to the left.
He then helped to create the short-lived Change UK party. He later joined the Liberal Democrats.
He follows a well-trodden path of former politicians taking top finance roles.
Last year former finance minister Sajid Javid took an advisory role at JPMorgan, while this month one of his predecessors George Osborne was named a partner at M&A firm Robey Warshaw.