Ex-PM Tony Blair Joins JPMorgan As Senior Advisor

The Financial Times in London first reported the move on its Web site.

JPMorgan, the third-largest U.S. bank, said Blair will give JPMorgan Chase's CEO and senior management team advice on global politics on a part-time basis, and participate in the company's events with key clients.

"I look forward to advising them on how they approach the huge political and economic changes that globalisation brings," Blair said in a statement.

Blair, a key ally of U.S. President George W. Bush, was replaced last year by Gordon Brown as prime minister amid growing discontent over Britain's policy in Iraq.

The Financial Times in London first reported the move on its Web site, saying it would be the first of a series positions Blair expects to take in the private sector.

Blair's predecessor, John Major, joined a U.S. finance company after leaving 10 Downing Street.

After leaving office, Major joined U.S. private equity firm The Carlyle Group in 1998 amid that company's big push into the European market.