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Tullett Prebon Press Releases

18 Nov 11
Tullett Prebon agrees to acquire leading US municipal bonds interdealer broker Chapdelaine & Co.


New York, London 18 November, 2011: Tullett Prebon, one of the world’s leading interdealer brokers, today announces that it entered into an agreement to acquire Chapdelaine & Co. (“Chapdelaine”), a leading municipal bond interdealer broker in the US. The acquisition is subject to regulatory approval and certain other customary closing conditions and is expected to close later this year.

Chapdelaine has more than forty-five years’ experience in the municipal bond market, providing dealer to dealer execution services over the entire spectrum of the municipal bond market. As well as being the pre-eminent broker in the “munis” market, Chapdelaine also has an established presence in corporate bonds, US Treasuries, government agencies and interest rate swaps.

August J. Hoerrner, current President of Chapdelaine, will join Tullett Prebon to manage this new business and will report to Tullett Prebon Americas CEO and President John Abularrage.

John Abularrage, Chief Executive Officer the Americas, Tullett Prebon commented: “We are delighted to have an agreement with such an established and respected player in the North American municipal bond market. Importantly, the acquisition will reinforce our continued commitment to growing our business in the Americas.”

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