Clive Adamson, the Financial Conduct Authority's former director of supervision, will join the board of JP Morgan's private banking arm as a non-executive director, assuming that his old employer rubber-stamps his appointment.

Adamson left the UK's financial conduct regulatory body under a cloud late last year. The story of his turbulent time there is described in numerous articles on this site and in a very critical press. Adamson is well remembered for approving the disastrous appointment of the financially incompetent Rev Paul Flowers, the 'crystal Methodist', as chairman of the Co-Op Bank, and for doing what he had spent the last few years excoriating others for - creating a disorderly market. In early 2014 he let slip that an FCA investigation into life companies was going to take place, wiping billions of pounds off the share prices of large insurance carriers by the beginning of the working day.

If the regulator approves it, he will become a non-executive director of JP Morgan International Bank, the main legal entity for JP Morgan Private Bank in Europe, the Middle East and Africa, according to a spokesperson for JP Morgan.

He is also expected to serve as a senior advisor to the firm, reporting to the firm’s head of regulatory affairs in that region of the world, Sally Dewar. JP Morgan is the second group to whose name Adamson has been linked, the first being the Prudential. In neither case, according to reports, has the firm in question sought his services in an executive capacity.