It has been reported that the investment banker of JPMorgan Cazenove, Ian Hannam has resigned, with the pursuit of allowing the Financial Services Authority to charge him with a fine of £450,000 for causing market abuse.
It has been informed that Ian Hannam caught the attention of the authorities of Financial Services in 2008. The authorities have informed that in 2008, Ian Hannam sent two emails, one in September and another in October.
The authorities have informed that in the emails, Ian Hannam leaked the confidential information of Oil Company, which was being provided with advisory services by JPMorgan Cazenove. Ian Hannam has spent 20 years of his precious life in the JPMorgan Cazenove.
During his tenure, he has helped various companies of 40 countries to go with as many as 300 deals. At present, he is in news for providing advisory services to Xstrata on its merger with Glencore. Although the Financial Services Authority has found him guilty, Ian Hannam is all geared up to take the case to the upper tribunal. He is hopeful that the upper tribunal would help him in getting justice. He said, “I am appealing a decision notice issued by the FSA today and have consequently decided to resign from JPMorgan”.
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