Heritage Oil was one dare too far for former TA captain Ian Hannam In the past decade the lion's share of London flotations and fund-raisings have been driven by Mr Hannam, including deals for Vedanta, Barclays, SABMiller, Land Securities, Ferrexpo and Kazakhmys. He has been behind £210bn of equity-related issuance at JP Morgan since 2005, which has raked in around £100m of fees a year, and afforded him generous bonuses. But this is not the first time he has been in the spotlight. In 2007 JP Morgan was plunged into crisis after it emerged that Mr Hannam had held talks with Omani investors wanting to take over Dow Chemicals, one of the bank's biggest clients. Mr Hannam might have embraced the "who dares wins" motto while in the Army but with Heritage Oil it seems it was one dare too far.