Tullett Prebon says goodbye to its COO

In a one-line statement, FTSE 250 interdealer broker Tullett Prebon has announced that its chief operating officer (COO) has resigned.

Steph Duckworth, who became the COO of Tullett in December 2008, joined the firm back in 2003 and has held a number of executive positions over the years, including chief executive officer of the EMEA region and COO of Tullett Prebon Energy, according to Bloomberg Businessweek.

Tullett's shares fell sharply over the summer, despite the market volatility - which generally tends to benefit interdealer brokers. Yesterday's closing price was 289.6p, well under the 428.6p 52-week high reached in April.

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The firm warned last month that the 8% revenue growth seen between July and October deteriorated towards the end of the period, with October revenues down 3% on the prior year.

BC