Directorate Change

RNS Number : 5785M

Tullett Prebon PLC

17 July 2014

 



17 July 2014

Tullett Prebon plc

Directorate Change

Tullett Prebon plc (the "Company") announces the appointment of John Phizackerley as an executive director and Chief Executive Officer of the Company, with effect from 1 September 2014.

Further to the announcement on 3 June 2014, Terry Smith will stand down as an executive director and Chief Executive Officer of the Company, on 31 August  2014.

John Phizackerley held a number of senior management positions at Nomura International plc from 2009 to 2013, including Chief Executive Officer EMEA from March 2011 to May 2013.  Prior to joining Nomura, John Phizackerley worked for Lehman Brothers from 1986 to 2008 in roles including head of research, co-head of Equities and Chief Administrative Officer EMEA.   He started his career as an underground mining engineer with Anglo American Corporation of South Africa.

Rupert Robson, Chairman of Tullett Prebon plc commented:

"Terry Smith had the vision more than ten years ago to bring together Tullett Liberty and Prebon Yamane to create what is today one of the leading inter-dealer brokers in the world. In the process he has created significant value for shareholders and has steered the group through the financial and regulatory upheavals of the last few years. We are immensely grateful for his huge contribution to the business and wish him well for the future with Fundsmith."

"I am delighted to welcome John Phizackerley as Tullett Prebon's new chief executive. He has a distinguished track record in the investment banking industry and wide international experience. His deep understanding of our customers' needs and his regulatory expertise will be invaluable in taking Tullett Prebon forward in these changing times to the next stage in its development."

There are no additional disclosures required under rule 9.6.13 of the Listing Rules of the Financial Conduct Authority in connection with John Phizackerley's appointment.

Terry Smith has agreed to maintain his involvement with the Company as a consultant over the next two years, advising the Chairman and Board on matters relating to the management and strategic development of the Company. He will receive a fee, via a personal services company, of £250,000 per annum for providing the consultancy services.

- Ends -

Enquiries:

Nigel Szembel, Head of Communications

Tullett Prebon plc

[phone]

 

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