Tullett Prebon
 | |
| Public | |
| Traded as | LSE: TLPR |
| Industry | Banking |
| Founded | 1971 |
| Founder | Derek Tullett [1] |
| Headquarters | London, England, UK |
Key people |
Rupert Robson (Chairman) John Phizackerley (CEO) Angela Knight (Senior Non-Executive Director) Roger Perkin (Independent Non-executive Director) Stephen Pull (Independent Non-executive Director) David Shalders (Independent Non-executive Director) |
| Revenue | £796.0 million (2015)[2] |
| £107.9 million (2015)[2] | |
| £83.3 million (2015)[2] | |
| Website | www.tullettprebon.com |
Tullett Prebon plc is an inter-dealer money broker. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
The company was founded by Derek Tullett in 1971 as a foreign exchange broker trading as Tullett & Riley.[3] During the 1970s and 1980s it opened a number of overseas offices and started its own computer graphical analysis company of financial futures, options and FX rates (Futrend Ltd). In 1999 the Company merged with Liberty Brokerage to create Tullett Liberty.[3]
In early 2003, the company was bought by Collins Stewart plc, a financial services company, creating Collins Stewart Tullett plc.[3]
In October 2004, the company acquired Prebon Yamane, a broking business formed in 1990 following the merger of three leading London-based money broking businesses (Babcock & Brown, Kirkland-Whittaker and Fulton Prebon)[3] and had adopted that name in acknowledgement of the firm's close business alliance with the Tokyo-based Yamane Group.[3]
In December 2006, the group separated into two separate entities: Collins Stewart (stockbroking) and Tullett Prebon (moneybroking).[4]
The company acquired Chapdelaine, a US broker, in January 2007 and integrated the business into its existing operations.[5]
In September 2012, the company was asked to help the Financial Services Authority's investigation into malpractice across the City of London, with particular interest in the LIBOR interest rate fixing.[1]
In 2014, Terry Smith, chief executive of Tullett Prebon PLC, left the London-based brokerage firm to work full-time at the privately owned asset-management firm that he started in 2010.[6]
He was succeeded by John Phizackerley as of 1 September 2014. Phizackerley, who prefers to be called "Phiz", started out as a mining engineer with Anglo American and is a former Lehman Brothers and then Nomura executive.[7]
Operations
The company operates as an intermediary in wholesale financial markets. Many of its clients are commercial and investment banks. It operates in eight product areas: Volatility, Rates, Credit, Treasury, Non Banking, Energy, Equities and Property.[8]
The company also has specialist trading desks including, for example, Insurance Linked Securities where it facilitates Catastrophe Bond secondary market trading and provides a broking service to arrange Primary and Private Market transactions. It also provides data information services for financial institutions, covering areas such as Solvency II risk data, Credit Default Swaps data and FX Options data.[9]
Competition
- ICAP
- RP Martin
- BGC Partners (a subsidiary of Cantor Fitzgerald)
- Tradition
- GFI Group
- Mint Partners
- Tradeweb
References
- 1 2 Michael Fallon becomes business minister The Telegraph, 5 September 2012
- 1 2 3 "Preliminary Results 2015" (PDF). Tullett Prebon. Retrieved 16 April 2016.
- 1 2 3 4 5 "Tullett Prebon Interdealer Broking History". tullettprebon.com. Retrieved 3 April 2015.
- ↑ "Login". timesonline.co.uk. Retrieved 3 April 2015.
- ↑ Simon Kennedy. "Tullett Prebon profit halves, sees current market as ideal". MarketWatch. Retrieved 3 April 2015.
- ↑ Jenny Strasburg (3 June 2014). "Tullett Prebon CEO Plans to Leave Firm As Soon As This Month". WSJ. Retrieved 3 April 2015.
- ↑ "Tullett Prebon names Phizackerley as chief executive officer". Reuters UK. Retrieved 3 April 2015.
- ↑ "Tullett Prebon Electronic And Voice Interdealer Broker". tullettprebon.com. Retrieved 3 April 2015.
- ↑ "OTC Data - Financial Information Services - Tullett Prebon". tpinformation.com. Retrieved 3 April 2015.
