Tullett sends Bannister on two-year gardening leave

Collins Stewart Tullett, the money broker that recently merged with rival Prebon Yamane, is holding Craig Bannister, the former head of Prebon in Singapore, to a two-year employment contract after he resigned from the firm.

The move is designed to see off efforts by rival brokers to compete with it in Asia.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire