Clive Adamson is joining JP Morgan's private banking arm two years after he oversaw a £3m fine for the business

A former top executive at the City regulator is joining the board of JP Morgan's private banking arm two years after he oversaw a fine imposed on the business for inadequate client advice. Sky News has learnt that Clive Adamson, who stepped down as the Financial Conduct Authority's (FCA) director of supervision late last year, is to become a non-executive director of JP Morgan International Bank, the legal entity which oversees JP Morgan's wealth management operations in Europe, the Middle East and Africa. Mr Adamson's role is subject to the approval of the other UK banking watchdog, the Prudential Regulation Authority (PRA) but was due to be announced internally by JP Morgan on Friday, sources close to the bank said. Mr Adamson, a long-serving regulator who was responsible for overseeing the major UK banks in the period leading up to and during the financial crisis, left the FCA in the wake of a report which criticised the regulator's handling of a media briefing about its plans to millions of closed-life insurance policies. He had been considering whether to leave the FCA for some time and his departure was not directly connected to the report, sources insisted at the time.....Read more here