The CEO of interbroker dealer Tullett Prebon will step down as soon as this month.
Terry Smith will exit the London-based firm after eight years at the helm to focus on his four-year-old asset management business, Fundsmith, The Wall Street Journal reports. Tullett Prebon said he would remain in the post until his successor is named, a process it said was “well advanced.”
Former Lehman Brothers and Nomura Holdings executive John Phizackerley is the front-runner to take over for Smith. According to the Journal, he and Tullett Prebon are in advanced talks.