JPMorgan has hired Chuka Umunna, a former high-profile MP who quit politics for public relations, as its new head of ESG for Europe, as large investment banks continue to push into environmental advisory work.

Umunna, the former shadow business secretary and MP for Streatham who was once tipped as a successor to Ed Miliband as a potential Labour party leader, has joined the US bank in a newly-created role leading its ESG activities for Europe, the Middle East and Africa, according to an internal memo seen by Financial News.