Chuka Ummuna, the former Labour politician and MP for Streatham, has joined JP Morgan to lead its European environmental, social and governance (ESG) operations.
Ummuna joins JP Morgan form communications firm Edelmen, where he has headed its ESG department since last summer.
Ummuna ran for leader of the Labour Party in 2015, but pulled out of the race, citing pressure on his family.
He left the party in the Jeremy Corbyn years and joined the Change UK party in 2019. He then joined the Liberal Democrats, but stepped back from politics after being unsuccessful in winning a seat in the 2019 General Election.
Ummuna has over 20 years experience managing private and public sector ESG issues at a senior level, which includes eight years managing employee related ESG factors on M&A transactions as a solicitor. The appointment will make him one of the most senior Black bankers in the City and see him drop his NED and board positions to focus solely on JP Morgan.
JP Morgan CEO, EMEA, Vis Raghavan says: “To further strengthen our ESG initiatives, I am pleased to announce that Chuka Umunna will join the firm in the newly created role of head of EMEA ESG, reporting to me. In this role, he will work closely with the firm’s regional and global ESG stakeholders and partner with teams across all lines of business to help our clients successfully navigate the evolving ESG landscape. In particular, he will work with Rama Variankaval who leads one of the key pillars of our ESG approach globally across the firm, our newly established Center for Carbon Transition, which provides centralized access to sustainability-focused financing, research and advisory solutions.
Chuka joins us from the global communications firm Edelman, where he directed their industry-leading consultancy practice advising clients on ESG management. He has more than 20 years of private and public sector experience in managing ESG issues at a senior level and was recently named one of the top five ESG influencers in the U.K.
Previously, Chuka served as a Member of Parliament in the U.K. for nearly a decade. During his parliamentary career, Chuka was a member of the Shadow Cabinet, serving first as Parliamentary Private Secretary to the Leader of the Opposition and then from 2011 through 2015 as the Shadow Secretary of State for Business, Innovation and Skills. Chuka began his career as a solicitor, with a focus on employment law.