Ian Hannam, one of the founding fathers of European equity capital markets, is to remain with JPMorgan, ending weeks of speculation that he would quit the US bank as a result of its take over by Chase Manhattan.

Hannam, an 18-year market veteran who had been head of equity capital markets (ECM) at Chase Fleming, appeared to have been left out in the cold late last year as Carlos Conde of JP Morgan and Bobby Banks of Chase were named co-heads of ECM for the combined JPMorgan Chase & Co.