Senior Management Changes in New York and London
3 March 2009
Tullett Prebon plc
Senior management changes in New York and London
Marcus Bolton to be Chief Executive Officer the Americas
Lou Scotto to become consultant and senior advisor
Paul Dunkley to be Managing Director Volatility in London
London and New York, 3 March 2009: Tullett Prebon plc, ("Tullett Prebon")
announces that Marcus Bolton has been appointed Chief Executive Officer ("CEO")
the Americas, succeeding Lou Scotto who becomes a consultant and senior advisor
to the Company. Paul Dunkley will replace Marcus Bolton as Managing Director
Volatility in London. These appointments are with effect from 9 March 2009.
Marcus Bolton has run Tullett Prebon's Volatility group in London since the
acquisition of Prebon by Collins Stewart Tullett plc in 2004. Before that he
headed Tullett Liberty's Foreign Exchange Options (FXOs) and Treasury business,
previous to which he ran the FXO desk at Tullett and Tokyo. From 1989 to 1990
he was a trader in Interest rate Options at Continental Bank of Illinois, and
before that, between 1987 and 1989, he was a broker on Financial Futures &
Options at Gelderman Inc. Bolton started at the Discount Corporation of New
York as a Financial Futures & Options broker in 1985. He has a degree in
Economics from Durham University in the United Kingdom. As CEO the Americas he
will report to Chief Operating Officer ("COO") Steph Duckworth.
Lou Scotto, as part of his long term retirement plan, will step down as CEO the
Americas, a position he has held since the demerger of the Collins Stewart and
Tullett Prebon businesses in December 2006. He will remain actively involved
with the Company as a consultant and senior advisor. Scotto started his career
in the inter-dealer broking business in 1993 at Liberty Brokerage, where he was
a Senior Managing Director with responsibility for new business development.
Between 1994 and 1999 he was CEO of Liberty Eurasia, building and running this
new business out of London, and in 1999 he was appointed COO of Liberty
Brokerage. He remained as the group COO following the merger of Tullett and
Liberty in 2000. The creation of world's second largest inter-dealer broker by
Collins Stewart plc, with the acquisition of Tullett Liberty (2003) and Prebon
(2004) saw Scotto become the CEO of Tullett Prebon, a position he held until
December 2006.
Paul Dunkley was appointed Director of Tullett Prebon's Volatility division in
January 2008. He has 20 years experience in a wide range of derivatives, having
served as Managing Director of Eurobrokers and a director of the Weather
Exchange. Over the last three years, Dunkley and his team have successfully
developed Tullett Prebon's Interest Rate Options desk into a leading provider
of both vanilla and exotic options. Dunkley is a Graduate of Ecole Superieure
de Commerce in Reims and Middlesex University. As Managing Director Volatility
he will report to Angus Wink CEO Europe Middle East and Africa.
Terry Smith, CEO of Tullett Prebon plc, said "Our Americas business is one of
our most valuable and, in appointing Marcus Bolton into this important role, we
have ensured that there will be strong continuity in our management team in New
York following Lou Scotto's time as Chief Executive Officer there. Lou was
instrumental in bringing the Tullett and Prebon businesses together and the
success that the company currently enjoys is the clearest and most visible
evidence of the contribution he has made. I am pleased that Lou has agreed to
remain with the Company as a consultant and that his knowledge and expertise
remain available to us."
- Ends -
Enquiries:
Nigel Szembel, Tullett Prebon plc +44 7802 362088
Charlotte Kirkham, M:Communications +44 207 153 1531
+44 7989 528421
About Tullett Prebon plc
Tullett Prebon (www.tullettprebon.com) operates as an intermediary in wholesale
financial markets facilitating the trading activities of its clients, in
particular commercial and investment banks. The business now covers the
following major product groups: Volatility, Rates, Non Banking & Sterling Cash,
Treasury, Energy, Credit, Environmental and Equities. Tullett Prebon's
electronic broking division offers electronic solutions to these products. 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 York, New Jersey, Hong
Kong, Singapore and Tokyo, with other offices, joint ventures and affiliates in
Bahrain, Bangkok, Calgary, Frankfurt, Jakarta, Kuala Lumpur, Luxembourg,
Manila, Mumbai, Paris, Salt Lake City, Seoul, Shanghai, Sydney, Toronto, Warsaw
and Zurich.
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