Hannam & Partners, an advisory firm started by former JPMorgan Chase & Co. (JPM) banker Ian Hannam, said it hired Tim Hoare as a partner to help build its presence in natural resources.
Hoare, a former chairman of Canadian investment bank Canaccord Genuity Ltd., will initially be a managing director at Strand Partners Ltd., in which Hannam’s firm owns a majority stake, the London-based company said in a statement today.
Investment bankers are increasingly starting or joining small firms as restrictions on pay and stricter regulations make it more difficult for larger banks to retain dealmakers. Merger advisers including Morgan Stanley (MS)’s Simon Robey and Goldman Sachs Group Inc.’s Yoel Zaoui are among recent departures.
Hannam, 57, stepped down from JPMorgan last year after the U.K. Financial Services Authority fined him 450,000 pounds ($719,000) for market abuse, saying he had disclosed information improperly. Hannam, who advised on transactions including the deal that created Glencore Xstrata Plc (GLEN), the world’s fourth-largest mining company, denies wrongdoing and is appealing the ruling.
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