“Obviously interest rate swaps is a major play for us,” said Taylor. “Icap is a leader in this area, but I would hope these appointments would help us close that margin. And we believe we are closing it,” he claimed.
Angus Wink was named managing director for interest rate swaps, while Stephen Duckworth was promoted to managing director for fixed income, interest rate swaps and bond/swap volatility. Wink has spent nine years trading swaps for Tullett, while Duckworth has traded European government, fixed income and bond options for the company for the past five years.
Taylor said Tullett & Tokyo Liberty, which has a strong reputation in the short-end of the swaps business, was also making a land grab in the medium-term business. “We want to grow medium-term revenues and increase our corporate relations,” said Taylor. He added that Tullett & Tokyo Liberty had hired five to six traders for its medium-term swaps business in the past several months.
Taylor also named Marcus Bolton as managing director for Treasury products, Michael NorthEast-Roffey as managing director for fixed income, and Leslie O’Malley as managing director for equities and equity derivatives.