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Tullett Hires Former Faros Trading Head

Interdealer broker Tullett Prebon has appointed Douglas Borthwick as managing director and desk manager of its Chapdelaine foreign exchange desk. Based in New York, Borthwick reports to Neil Tullett, senior managing director, and is responsible for developing the FX business of Chapdelaine, a municipal bond interdealer broker that Tullett acquired in November 2011. “Borthwick will be leading the Chapdelaine FX initiative as we build a new type of agency desk, delivering not just price discovery and seamless 24-hour electronic and voice FX execution, but also superior macro intelligence and unique sources of liquidity to our institutional clients,” Tullet says. Borthwick was previously managing director and head of trading and strategy at Faros Trading. Before joining Faros, he was a director and head of Latin American non-deliverable forwards and options trading desks at Standard Chartered. He has also held positions at Merrill Lynch and Morgan Stanley. “Douglas not only br...

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