|Type||Public (LSE: TLPR)|
|Founder(s)||Derek Tullett |
|Headquarters||London, England, UK|
|Key people||Keith Hamill (Chairman)
Terry Smith (CEO)
Michael Fallon (Non-Executive Director)
|Revenue||£850.8 million (2012)|
|Operating income||£126.0 million (2012)|
|Net income||£(58.7) million (2012)|
The company was founded by Derek Tullett in 1971 as a foreign exchange broker trading as Tullett & Riley. During the 1970s and 1980s it opened a number of overseas offices. In 1999 the Company merged with Liberty Brokerage to create Tullett Liberty.
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—and which had adopted that name in acknowledgement of the firm's close business alliance with the Tokyo-based Yamane Group.
In December 2006 the group separated into two separate entities: Collins Stewart (stockbroking) and Tullett Prebon (money-broking).
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.
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.
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.