3rd Jun 2014 09:10
(An item published at 0652 BST misstated the day the FT's report was published. The correct version follows.)
LONDON (Alliance News) - Tullett Prebon PLC is in advanced talks to appoint a successor to Chief Executive Terry Smith, the Financial Times reported Monday online, with former Nomura and Lehman Brothers executive John Phizackerley emerging as the leading contender to succeed him.
Citing two people familiar with the situation, the FT said the nine month search, conducted by headhunters Spencer Stuart, is partially due to regulators requiring financial services companies to improve their succession plans.
No formal agreement has been signed with Phizackerley, but Smith is expected to depart by the end of the year, the FT said, citing the people.
http://www.ft.com/cms/s/0/818c48bc-e4b4-11e3-9b2b-00144feabdc0.html#axzz33YHgfHkG
Tullett Prebon shares were Tuesday quoted at 297.50 pence, up 2.5%.
By Samuel Agini; [email protected]; @samuelagini
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