British interdealer brokerage Tullett Prebon has agreed to acquire 40 brokers from Murphy & Durieu, a New York-based inter-dealer brokerage services firm, to accelerate the growth of its US operations.
The newly hired brokers will bolster Tullett Prebon’s fixed income activities as they have expertise and access to deep liquidity pools in a diverse range of fixed income products including corporate, convertible, municipal, high yield, distressed and government securities.
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The move will take the total number of Tullett Prebon brokers in the United States to almost 550.
Tullett Prebon CEO for Americas John Abularrage said: "US fixed income is one of the largest Over the Counter (OTC) market segments in the world and this acquisition allows Tullett Prebon to provide even stronger and better execution to our clients across the range of fixed income products."
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