Big changes ahead.
Tullett Prebon has announced the appointment of John Phizackerley as an executive director and Chief Executive Officer of the Company, with effect from 1 September 2014.
The cost of hire has just gone up.
Terry Smith, the chief executive of Tullett Prebon and a prominent figure in London's financial circles, could leave the interdealer broker as early as the end of June, a source familiar with situation told Reuters on Tuesday.
British interdealer broker Tullett Prebon said on Friday it would cut costs and trim headcount as challenging market conditions continued to weigh on its business, sending revenue 12% lower in the first four months of the year.
A former broker at Tullett Prebon said in a lawsuit over his firing that he never tried to manipulate Libor rates, calling messages with a UBS banker 'misleading'.
Shares in Tullett Prebon fell nearly 6% on Friday after unconfirmed reports that conversations involving a broker at the firm had been cited by regulators investigating Libor fixing allegations.
Bank of America has named Mike Joo head of global rates and currencies origination, the business that issues interest rate and currency products for corporate and commercial clients, according to a memo sent to employees.
Tullett Prebon has announced that it has entered into an agreement to acquire Elevation, LLC ('Elevation'), a mid-size equities, foreign equities and equities derivatives interdealer broker in the US.