Ian Hannam

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In April 2012 "One of the City's top bankers, Ian Hannam, has been fined £450,000 by the Financial Services Authority (FSA) for providing inside information to a prospective client. Mr Hannam has resigned as chairman of Capital Markets at JP Morgan Cazenove, and is appealing against the decision. A former captain in the territorial SAS, he said the FSA's conclusion was wrong and he had acted with integrity. He said he was resigning to avoid being a distraction to staff and clients. Mr Hannam had worked at what is now the JP Morgan group for 20 years. The FSA said that while Mr Hannam had not deliberately set out to commit market abuse, his failings were serious because of his experience and senior position at JP Morgan. It claims he disclosed inside information in two emails sent to a prospective client towards the end of 2008. They contained information on Heritage Oil, a client of JP Morgan. Mr Hannam was the lead adviser to the oil exploration firm and its chief executive, Tony Buckingham." [1]

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" He joined the Territorial Special Air Service at age 17, one of the younger men to pass the service's grueling selection process. Hannam's unit, the Artists Rifles, was a part-time regiment akin to a U.S. National Guard special forces unit. The Artists Rifles had a storied past and a reputation for attracting adventure seekers from all social classes. Since then, Hannam has counted his old SAS cronies as his closest friends, often calling on them to help him in the world's tougher places.

"While serving in the Artists Rifles, Hannam pursued a degree in civil engineering from England's top school in that field, Imperial College. Upon graduation in 1977, he took a job with Taylor Woodrow, a large British construction firm. His first assignment was to build roads, radar stations, and airstrips in Oman for the SAS, which was in the final stages of crushing a Marxist-led insurgency that had been boiling in the Dhofar region for more than a decade." [2]

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References

  1. bbc FSA fines JP Morgan banker Ian Hannam for market abuse, organizational web page, accessed September 20, 2012.
  2. CNN J.P. Morgan's hunt for Afghan gold, organizational web page, accessed September 20, 2012.