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Financial Times

By Emiko Terazono

Hanson Switch

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Robert Hanson , son of the late Lord Hanson , has swapped one finance house for another. He has sold his 19.6 per cent stake in Aim-listed Hanson Westhouse and resigned from its advisory panel to take a 10 per cent holding in Strand Partners, becoming the advisory group's chairman.

Strand, which will rename itself Strand Hanson, specialises in M&A in emerging markets, advising Aim-listed Gulf Keystone Petroleum and Kalahari Minerals. It was founded in 1993 and Tory supporter Lord Ashcroft was a leading shareholder until this year when chief executive Simon Raggett led a management buy-out.

Hanson Westhouse, which will drop the Hanson name, still has a list of City luminaries on its advisory panel such as ex-Hoare Govett chairman Peter Meinertzhagen and Chris Holdsworth Hunt of KBC Peel Hunt fame.