Inter-dealer broker Tullett Prebon has added a risk arbitrage desk focusing on mergers and acquisitions.The desk will be based in the firm's Jersey City, NJ, office and will be led by managing director Philippe Allain, who will report into Tom Bovitz, senior managing director, equities.
Allain joins Tullett Prebon from Newedge Group where he was head of risk arbitrage sales. Mourad Jridi, also formerly of Newedge Group, will join as director; Yemi Oshodi, formerly of Ramius Capital Group, will join as managing director; and Rudy Sanchez, formerly of Latam Investments, will join as senior vice president.
“We are enthusiastic about having Philippe’s team join us. With the team’s knowledge and expertise in risk arbitrage, we look forward to integrating the desk into our equity division and providing a more well rounded offering to our customers,” said Bovitz.
“I am eager to bring my past experience in risk arbitrage to advance the breadth and depth of Tullett Prebon’s equity offerings. By offering this strategy to current and prospective clients, Tullett Prebon can now position itself as an inter-dealer broker offering a very competitive array of global strategies and products, while continuing to expand its presence in North America,” said Allain.