Tullett Prebon is in advanced talks to appoint a replacement for its chief executive Terry Smith, who is set to leave by the end of the year, according to reports.
The UK interdealer broker is planning to hire John Phizackerley, formerly at Nomura and Lehman Brothers, following a nine-month long search led my headhunters Spencer Stuart, the FT reports. The search was initiated to improve succession plans at the company, in line with an initiative promoted by the Financial Conduct Authority. Smith (pictured) plans to focus on Fundsmith, the asset management business he founded four years ago, which has seen strong growth. The current chief executive has been at the head of the company for the past eight years, after it separated from parent Co...
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