FT.com / Financials - Tullett offers brokers chance to move from UK.
Tullett Prebon has offered its entire broking staff the chance to relocate from Britain in a sign of the fallout from the government’s 50 per cent “supertax” on bank bonuses.
The broker has also been studying the possibility of moving its corporate headquarters abroad. No decision is thought imminent.
Nigel Szembel, of Tullett, said: “The board has concluded that it is in the best interests of shareholders to respond to requests from desks to relocate out of the UK, and will seek to facilitate, where possible and appropriate, relocation to the company’s other offices worldwide, which have more certain taxation regimes.”
Now let's note what this broker does:
Tullett Prebon operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients, in particular commercial and investment banks. The business now covers the following major product groups: Volatility, Rates, Non Banking & Sterling Cash, Treasury, Energy, Environmental, Credit, and Equities. Tullett Prebon's electronic broking division offers electronic solutions to these products. In addition to its brokerage services, Tullett Prebon offers a variety of market information services through its IDB Market Data division, Tullett Prebon Information.
So they trdae in a great deal of what is 'socially useless'.
Please feel free to go.
It will be very interesting to note how many actually do.
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“So they trdae in a great deal of what is ’socially useless’.”
Actually what they do is very useful, brokering deposits for smaller companies and public bodies who have to manage funds but do not have the treasury operations of a broker such as Tulletts.
Furthermore we owe a debt of gratitude to Terry Smith the CEO of Tulletts for his classic book Accounting for Growth which set out for all to read the accounting scams practised by pls in the 1980’s.
@Alex
All financial services are useful from your perspective if they make money
So does your opinion count?
After all you offer it without payment being requested. In that case what value can you ascribe to it?
Why do ask questions to your commenters and then delete the responses?
Because your comments almost never add to debate
And I am receiving very strong feedback from many readers of this blog think that the fewer comments there are here from a few persistent voices who add nothing of value – yours being one of them – the happier they would be
So I am responding to their requests
You should assume henceforth that you have a very low chance of getting your comments on here