Tullett completed the $1.6 billion purchase of ICAP's voice-broker business, rebranded as TP ICAP Plc, in December of 2016. The three regional businesses included in the deal employ 1,458 voice brokers. The acquisition includes ICAP’s voice-broking divisions in Europe, Asia Pacific and the Americas and its 40.2 percent interest in iSwap, a global electronic-trading platform for interest-rate swaps, Tullett said in a statement. On NovemTullett Prebon announced it had agreed to acquire the global brokering business of ICAP in an all-stock deal. Nomura’s former European head, John Phizackerley, the former European head of Nomura, took over as Tullet's CEO from departing chief Terry Smith on August 31, 2014. The firm, created in 2004 when Collins Stewart Tullett acquired Prebon Yamane, is also a provider of real-time price information from the wholesale inter-dealer brokered financial markets. The firm has offices in 24 countries and operates voice, hybrid, electronic, volume matching, algorithmic matching and risk mitigation platforms. It is among the largest inter-dealer brokers in global fixed income securities, money markets, capital markets, equities, credit and associated derivatives products. Tullett Prebon is a broker in wholesale financial markets and energy sectors, facilitating the trading for commercial and investment banks, hedge funds and buy-side institutions.
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