THE JP MORGAN Cazenove investment banker who changed the shape of the FTSE 100 by bringing emerging markets commodities groups to London has resigned to contest a Financial Services Authority decision to fine him £450,000 (€540,892) for market abuse.

The FSA said it had decided to fine Ian Hannam, chairman of equity capital markets at JP Morgan Cazenove, over two emails he sent in September and October 2008, which the regulator regarded as containing insider information on an oil company for which his bank was lead adviser.

Mr Hannam spent more than 20 years at Cazenove and helped create its joint venture with JP Morgan, advising on more than 300 deals in 40 countries. He was known as “the king of mining MA” because of his involvement in almost every large transaction in the natural resources sector for the past decade.

He is still advising Xstrata on its merger with Glencore to create a $90 billion natural resources champion. Xstrata has been a client of JPMorgan Cazenove since its 2002 flotation, with Mr Hannam as the main adviser.

Mr Hannam has exercised his right to refer the FSA’s decision to the upper tribunal, which could overturn it, vary it or affirm it.

In a statement he said: “Appealing the case while still at the firm would be an unfair distraction to my clients and colleagues.” – Copyright The Financial Times Limited 2012