Tullett Prebon

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Tullett Prebon plc
Type Public
Traded as LSETLPR
Industry Banking
Founded 1971
Founder(s) Derek Tullett [1]
Headquarters London, England, UK
Key people Keith Hamill (Chairman)
Terry Smith (CEO)
Michael Fallon (Non-Executive Director)[1]
Revenue £803.7 million (2013)[2]
Operating income £115.4 million (2013)[2]
Net income £65.6 million (2013)[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[edit]

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. 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 which 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 (money-broking).[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]

Operations[edit]

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.[6]

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.[7]

Competition[edit]

References[edit]

External links[edit]