Tullett Prebon Hires 40 U.S. Bond Brokers From Murphy & Durieu

Tullett Prebon Plc, the British interdealer brokerage, hired 40 bond brokers from Murphy & Durieu LP to expand in the U.S.

Tullett Prebon will now have almost 550 brokers in the U.S., the London-based company said today in an e-mailed statement. The new hires work with corporate bonds, government, high-yield, convertible and distressed securities, according to the statement. Terms weren’t disclosed.

“The U.S. is a key market for Tullett Prebon,” John Abularrage, chief executive officer for the Americas, said in the statement. “This acquisition allows Tullett Prebon to provide even stronger and better execution to our clients across the range of fixed income products.”

The interdealer brokerage business, which handles large trades between banks, has been consolidating. CME Group Inc. and Howard Lutnick’s BGC Partners Inc. are competing to take over interdealer broker GFI Group Inc., which has a shareholder meeting scheduled for this month to vote on CME’s latest proposal.

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