John Phizackerley is set to replace long-term chief Terry Smith on September 1
Tullett Prebon’s new chief executive faces an
uphill struggle after the British inter-dealer broker saw
revenue fall 15% in the first half.
The Tullett results make it the latest in a string of banks
and brokers that reported a fall in earnings as the market
continues to struggle with quiet customer activity, low levels
of volatility and a clampdown by regulators.
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