FCA Statement

The FCA issue was a mistake which Mr Hannam acknowledged when he put his hand up and paid the fine. Following the investigation, which first began after Mr Hannam’s whistleblowing of Mehmet Sepil, he was deemed totally fit and proper to buy Strand Partners on his departure from JPMorgan, and he stayed on at JPMorgan to complete a number of transactions including the US$90bn Glencore-Xstrata merger.

Mr Hannam is grateful to the FCA for allowing him to buy Strand Partners during his tribunal appeal process and for allowing him to rename the firm to Hannam & Partners. Mr Hannam is glad that the FCA found that he acted with honesty and integrity in the interests of his clients.

JPMorgan backed Mr Hannam fulsomely during the 4-year investigation, where he continued to work full-time during one of his most productive periods and is proud of the role he played in the creation of JPMorgan as a global brand.

Hannam & Partners is now five years old, and Mr Hannam continues to work closely with JPMorgan on deals, and has the greatest respect for the emphasis they put on meritocracy, ethical practice and client focus – which has become a model for Hannam & Partners.