New 'Heavyweight' to Emerge from Tullett Acquisition of Prebon
ORGANIZATION AND MANAGEMENT
LONDON—Collins Stewart Tullett, the parent company of Tullett Liberty, will be acquiring rival inter-dealer broker Prebon Yamane to create a new heavyweight for the industry, say those involved in the purchase.
The deal, expected to close in October, will create the second largest interdealer broker behind industry heavyweight Icap. "We need another heavyweight in the business," says Patrick Keenan, an executive director of Prebon, who is slated to be chief operating officer (COO) for the
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