Graham Halliday will become the Financial Services Authority's (FSA's) new senior adviser.
Past positions Mr Halliday has held during his 37 year career in banking include being regional managing director at Natwest and director of banking and financial services at the Post Office.
In addition to advising across the FSA, Mr Halliday will focus on his specialist area of retail banking.
He will join the FSA part-time, from his role as director of strategy and business affairs at Monetise.
Speaking about Mr Halliday's new role, chief executive of the FSA Hector Sants said: "This is a further example of our commitment to have the right mix of people working at the FSA, combining those with regulatory experience and those with strong commercial backgrounds."
Sir Dominic Cadbury, Baroness Hogg, Lord Marshall, Sir Brian Pitman and Sir David Scholey, were appointed at the FSA last month as new advisers to help with its governance issues work.
