Appointment Underscores BGC’s Commitment to Expanding in the Base Metals Sector
LONDON, NEW YORK – (March 16, 2015) – BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners,” “BGC,” or “the Company”), a leading global brokerage company servicing the financial and real estate markets, today announced the appointment of Michael Turek as Head of BGC’s Base Metals desk in New York. This appointment complements the Base Metals team in London, which is co-headed by Bradley Marchant and Steven Bingley, and underscores BGC’s commitment to expanding its commodities business.
Mr. Turek joins BGC with extensive experience in commodities trading. Most recently, he was a Senior Director at Newedge Group. From 2002 until 2010 Mr. Turek held the position of Senior Vice President and Metals Sales Trader at Prudential Financial. Prior to that, Mr. Turek was Head of the Base Metals desk, North America, at Deutsche Bank.
“We are delighted to welcome Michael to BGC,” said Bobbie Lambert, Director of Commodities at BGC. “He brings extensive sales and trading experience in the commodities sector as we seek to expand the depth and breadth of this business into new global markets. We are confident that his industry experience and client relationships will be invaluable as we continue to invest in and expand in our base metals business.”
“I am excited to join BGC, a leading global brokerage firm with an excellent industry reputation. I find BGC especially compelling as they are committed to expanding in the base metals sector at an opportunistic time,” said Mr. Turek. “I am thrilled to work alongside Bobbie, Steven and Bradley to offer clients fast and price efficient access to liquidity, expand the global reach of BGC’s Base Metals business, and place BGC at the forefront of the marketplace.”
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. Through the Newmark Grubb Knight Frank brand, BGC offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, and property and facilities management. BGC’s customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit https://bgcpartnersprd.wpengine.com.
BGC, BGC Trader, Newmark, Grubb & Ellis, and Grubb are trademarks and service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this document regarding BGC Partners’ business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in our public filings, including our most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.
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