Tullett Prebon

From Wikipedia, the free encyclopedia

Tullett Prebon plc
Type Public (LSE: TLPR)
Founded Various Mergers/De-Mergers (1971)
Headquarters London, England, UK
Key people Keith Hamill (Chairman), Terry Smith (CEO)
Industry Banking
Revenue £ 753.8 million (2007)
Operating income £ 131.8 million (2007)
Website www.tullettprebon.com

Tullett Prebon plc (LSE: TLPR), listed on the FTSE 250, is one of the largest inter-dealer money brokers in the world. The company operates as an intermediary in wholesale financial markets facilitating the trading activities of their clients, in particular commercial and investment banks. The company has 1,600 brokers globally, and brokers an average value of £568,000 million daily[1].

Tullett Prebon organises its broking desks according to the way its customers trade. It operates in eight product areas across 23 countries: Volatility, Rates, Credit, Treasury, Non Banking, Energy, Equities and Property[2].

Contents

[edit] History

Tullett Liberty was founded in 1971[3] and focused during its early years on foreign exchange markets. During the 1970's and 1980s, Tullett developed a number of overseas offices. In 2000 Tullett merged with Liberty Brokerage to create Tullett Liberty.

Prebon was formed in 1990 following the merger of three leading London-based money broking businesses - Babcock & Brown, Kirkland-Whittaker and Fulton Prebon. In acknowledgement of the firm's close business alliance with the Tokyo-based Central Tanshi, formerly Yamane Tanshi, the group trading name was changed in 1992 to its current title of Prebon Yamane. In 1993 the name of the international money broking division of Yamane Tanshi was changed to Yamane Prebon.

In early 2003, Collins Stewart plc, the financial services group, and Tullett plc merged to create Collins Stewart Tullett plc. In December 2006, the group demerged, forming two separate entities; Collins Stewart and Tullett Prebon[4].

The acquisition of Chapdelaine was completed in January 2007 by Tullett Prebon and the business was integrated into the company’s existing operations. Restructuring of the joint venture in Tokyo occurred at the end of 2007, and the company now holds the management control over an enlarged business covering an increased range of products, develop the company’s activities in Tokyo and across the Asia Pacific region.

[edit] Competition

ICAP
BGC Partners ( a subsidiary of Cantor Fitzgerald L.P.)
Tradition
GFI Group

[edit] References

  1. ^ Tullett Prebon "Information" page;http://www.tullettprebon.com/tpi/MainMenu/About_TPI/main_about_tpi.aspx
  2. ^ Tullett Prebon "Homepage";http://www.tullettprebon.com/index.aspx
  3. ^ Tullett Prebon "About Us" page; http://www.tullettprebon.com/investor_about.aspx
  4. ^ Collins Stewart Tullett "Shareholder Information" page; http://www.cstullett.com/CST_ShareholdersInfo.htm

[edit] External links