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Lunchtime Links: This senior JPMorgan banker grew up in South London, was in the SAS, and prospects for gold in Afghanistan

It would be inaccurate to assume that all investment bankers were educated at public schools. It would also be inaccurate to assume they spend their time behind desks or on planes.

Fortune Magazine has a long and interesting article about Ian Charles Hannam, a JPMorgan banker who is as far removed from the stereotype as is humanly possible.

Hannam, chairman of JPMorgan Capital Markets, is in Afghanistan, looking for gold. The son of a council worker who oversaw a housing and street repair crew, he grew up in the badlands of South London and joined the Territorial SAS aged 17.

While he was in the SAS, Hannam also studied civil engineering at Imperial. He graduated in 1977, worked for Taylor Woodrow and in 1984 did an MBA at London Business School. From there, he got a job at Salomon Brothers in New York (having parachuted into America with the SAS), before joining Robert Fleming, which was acquired by JPMorgan. He's worked for JPM ever since.

Fortune claims Hannam brags about his wealth and has nasty table manners. "I've got more degrees than I can count, but I still talk like I'm illiterate, and my colleagues hate me for it," he has reputedly said in the past.

Nevertheless, Hannam purportedly has a wife and three children, a townhouse in Notting Hill, a wild game preserve in the Stormberg mountains of South Africa, and a 230-acre estate in Vermont. And he flies around Afghanistan in Black Hawk Helicopters looking for gold. Deskbound bankers could be forgiven their envy.

If raw-material prices keep rising and the idea takes hold that the banks are to blame, sooner or later they will find they get regulated out of the industry. (Bloomberg)

RAB Capital RIP. (Financial Times)

Stuart Gulliver wants to remove lots of managers and encourage everyone else to behave with 'courageous integrity.' (Financial Times)

There will be less paperwork and fewer data centres at HSBC. (Bloomberg)

HSBC finds it particularly galling that it pays the UK banking levy on uninsured deposits outside the UK, a stable form of funding contributing to the perception of HSBC as a relatively safe bank. (BBC)

BlueCrest still has 240 (of 380) people in London, and the decision to move some operations to Geneva was "for diversity purposes." (Financial News)

BlueCrest Capital Management's Geneva-based Leda Braga isn't worried about London's status as a hedge fund centre. (FinAlternatives)

BlueGold, a $2.4 billion London-based fund, has suffered losses of about 20%, or nearly $500 million, so far this month, according to someone close to the matter. (Dealbreaker)

Two ex-Bear Stearns hedge fund salesmen have left Natixis. (FinAlternatives)

PPI reviews will create 6,000 temporary jobs in UK retail banks. (Banking Times)

Some Somali pirates make $79K a year. (Time)

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AUTHOReFinancialCareers UK Insider Comment
  • Ja
    James
    12 May 2011

    So many bitchy comments on efinancial articles..

  • Fu
    Funny
    12 May 2011

    @AliDesai, you cracked me up here!

  • Al
    AliDesai
    11 May 2011

    "I've got more degrees than I can count, but I still talk like I'm illiterate, and my colleagues hate me for it," he has reputedly said in the past. "

    Well let me help him out with the counting. On the basis of the article he has 2 degress. The first is in Civil Engineering from Imperial and the second is an MBA from LBS.

    Hope this was helpful.

  • Mi
    Michael
    11 May 2011

    Congratulations! You've found one banker who didn't go to a private school.

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