City broker TP ICAP lines up Man Group director Richard Berliand as new chairman

Man Group director Richard Berliand is close to joining interdealer broker TP ICAP as the company's new chairman as it looks to regain investors' trust following the chief executive's ousting.

Berliand has held big trading roles at JPMorgan and is ICAP's first choice to replace current chairman Rupert Robson. 

The move is likely to be announced before Christmas and could even be as soon as next week, according to Sky News. 

Berliand's first task as the chairman of the world's largest interdealer broker will be to complete the integration of Tullett Prebon and ICAP's voice and hybrid broking businesses.

TP ICAP's shares plummeted in the summer by around 30 per cent and chief executive, John Phizackerley, was dismissed. 

Robson had planned to stand down from his role as chairman at the end of year but could now stay for a few months longer to ease the transition. 

Berliand's roles at JPMorgan included global head of prime services and global head of cash equities during 23 years before joining Man Group's board in 2016.

He also holds a directorship at Rothesay Life, is the deputy chairman at Deutsche Boerse, and is on the global markets advisory committee of the Commodity Futures Trading Commission in Washington.