Hannam and Partners is an advisory firm established by former JPMorgan Chase & Co banker Ian Hannam. It had hired Tim Hoare as a partner to assist in the development of the firm's presence in the natural resources market.
Hoare was the former chairman of Cannacord Genuity Ltd, the Canadian investment bank and would be hired as managing director at Strand Partners Ltd. Hannam's firm owns a majority shareholding in the London based Strand Partners.
Many investment bankers are either starting or joining small firms as pay restrictions as well as regulations increasingly make things more difficult for banks to keep their dealmakers. The merger advisors, such as Morgan Stanley's Simon Robey as well as Sachs Group Inc Yoel Zaoui are named as amongst those that have left their firms.
Hannam had stepped down from JPMorgan in 2012 after the UK Financial Services Authority had imposed a fine worth GBP450,000 or USD719,000 for market abuse. It was said that he disclosed information on trades improperly. Hannam, for his part, helped in the formation of Glencore Xstrata Plc, denies any wrongdoing and would appeal the ruling.
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