ONE of the City’s best-known dealmakers joined with another yesterday as Tim Hoare announced he is to partner Ian Hannam at Strand Partners, where the two men will help create a leading banking advisory house for the natural resources sector.
The two men join together with Hannam’s former JP Morgan colleague Neil Passmore, who is chief executive of Strand. The firm already has a team of twenty nine people based in London. There are plans to open offices in markets such as Hong Kong and Singapore in due course.
Hoare had been chief executive of Canaccord Europe for 12 years where he was a leading player in transactions and capital raisings in excess of $1bn a year in the natural resources sector.
“I believe that my knowledge of the mid-cap space will complement Ian’s experience in advising large cap companies, and together with an experienced and talented team, we are well placed to provide a broad range of services to key players in the natural resources sectors and those focused on emerging market opportunities,” Hoare said in a statement.
Strand is benefiting from being too small to be handicapped by regulatory bonus caps, so is able to hire competitively, whilst it is able to keep its fixed costs at manageable levels.
Hannam is currently appealing a £450,000 fine imposed on him by the City regulator last year. The fine caused him to resign from JP Morgan, where he was possibly the City’s most prolific deal-maker. He is waiting for the judge to rule on his appeal.