Five brokers promoted at Tullett Prebon

The rates brokers, all promoted to director, are Joerg Birkholz (euro government bonds), Steve Brown (euro repo), Jon Ely (euro government bonds) and Gary Read (gilt repo). Kevin McDermott, who runs the energy division's German power desk, was also promoted to director.

Tullett Prebon said the rates promotions were "in recognition of the success achieved by the new integrated division". The rates division was formed in late 2004, combining the broker's repo, swaps and bonds businesses.

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