Tullett Prebon said that Ken Pigaga, Global Chief Operating Officer of ICAP plc, has decided not to take up the position of Director and Chief Operating Officer of TP ICAP on completion of the acquisition of the global hybrid voice broking and information business of ICAP by Tullett Prebon.
An announcement regarding the role of Chief Operating Officer of TP ICAP will be made in due course.
Tullett Prebon remains confident that the Transaction is on track to close in 2016.
John Phizackerley, Tullett Prebon Chief Executive, said:
"On behalf of everyone at Tullett Prebon, I would like to thank Ken for his work on the Transaction and wish Ken all the best for the future. We have an excellent management team in place for TP ICAP, drawn from the ranks of both companies, which will bring a wealth of diverse experience, technical depth and outstanding leadership qualities to the new group."