IAN Hannam, the former JP Morgan banker, has recruited another senior executive to join his thriving independent advisory bank, Strand Partners.
Hannam confirmed last night that Giles Fitzpatrick, the former chief executive of Fox-Pitt Kelton, will be joining his team, which includes chief executive Neil Passmore and Tim Hoare.
Strand has been advising on a number of transactions, including the $1.7bn sale of a 40 per cent stake of Megapolis of Russia to Japan Tobacco and Philip Morris. It also advised on a deal for Ophir Energy.
Hannam’s ambition is to build an old-styled British merchant bank along the lines of Cazenove or Hoare Govett, both now owned by giant US titans, JP Morgan and Jefferies respectively.
Strand has been able to pay its staff according to performance, not being affected by new rules on bonuses.