TP ICAP Regulatory News (TCAP)

TP ICAP Global Executive Committee (GEC) appointments

London, 3 October 2016: Tullett Prebon, one of the world's leading interdealer brokers, today announces the members of the TP ICAP Global Executive Committee (GEC), subject to the successful completion of the acquisition of the ICAP global hybrid broking and information business later this year.

These appointments are being made after a rigorous and extensive review process and determination of the best initial structure for TP ICAP. Each member of the TP ICAP GEC will report to John Phizackerley, the Group Chief Executive.

The GEC will oversee the strategy and management of TP ICAP, and will monitor and govern the commercial and financial performance across the regions, global business lines and global corporate functions. There were three guiding principles in its constitution:

1. Tullett Prebon, ICAP and their associated brands will be operated separately and they will continue to compete.

2. Each region will continue to be managed separately by Tullett Prebon and ICAP Regional CEOs, as well as a single TP ICAP Regional Head to ensure consistent delivery of the Group's full range of products and services, and delivery of the synergies.

In addition to existing regional management structures, global product lines will be managed in a balanced matrix. The global products are; Global Broking, Energy & Commodities, Data & Analytics, and Institutional Services.

3. The corporate leadership team of TP ICAP will consist of central, global functions, providing support to Tullett Prebon, ICAP, and all other brands in the TP ICAP group.

TP ICAP Executive Committee

*= with special responsibility for Latin America

**= with special responsibility for the Japanese JV's

John Phizackerley, Tullett Prebon Chief Executive, who said:

"I am very pleased to announce the Global Executive Committee structure, which will come into effect subject to the successful closing of the TP ICAP transaction later this year. Tullett Prebon and ICAP and their associated brands will remain separate and will continue to compete. This is a strong group of experienced and proven senior executives with an extensive track record across our industry. I welcome them to the GEC and look forward to working with them."

Completion of the Transaction remains subject to approval by various regulatory bodies including the FCA and satisfaction of other closing conditions. Tullett Prebon remains confident that the Transaction is on track to close in 2016.

ENDS

Enquiries:

Tullett Prebon

Alexandra Wick, Marketing & Communications Director

awick@tullettprebon.com 

+44 (0) 20 7200 7579

Brunswick

Kim Fletcher, Eilís Murphy, Craig Breheny

tullettprebon@brunswickgroup.com 

+44 (0) 20 7404 5959

Note to editors: 

Tullett Prebon (www.tullettprebon.com) is an award winning global interdealer broker and operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients in seven major product groups: Energy & Commodities, Rates, Volatility, Treasury, Non-Banking, Credit and Equities.

With offices in 24 countries, Tullett Prebon operates voice, hybrid, electronic, volume matching, algorithmic matching and risk mitigation platforms, to accommodate the needs of its clients, and to satisfy the regulatory driven evolution of the marketplace. In addition to its brokerage services, Tullett Prebon offers a variety of market information services through its IDB Market Data division, Tullett Prebon Information.

Tullett Prebon has its principal offices in London, New Jersey, Hong Kong, Singapore and Tokyo, with other offices, joint ventures and affiliates in Bangkok, Connecticut Dubai, Frankfurt, Geneva, Houston, Jakarta, Johannesburg, Luxembourg, Madrid, Manama, Manila, Mexico City, Mumbai, New York, Paris, São Paulo, Seoul, Shanghai, Sydney, Toronto, Vienna and Warsaw.