Chapdelaine provides dealer to dealer execution services over the entire spectrum of the municipal bond market and also has presence in corporate bonds, US Treasuries, government agencies and interest rate swaps.
As part of the acquisition, August 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.
Abularrage said that they 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 their continued commitment to growing our business in the Americas.
The acquisition is subject to regulatory approval and certain other customary closing conditions and is expected to close in 2011.
