Josh Stannack to become Head of TP ILS, with Emmerson to go part-time
The insurance-linked securities (ILS) desk of Tullett Prebon, part of TP ICAP, will have a new leader, with Josh Stannack set to take on the Head of TP ILS position, and the desk’s founder Steve Emmerson will remain integral to the business in a part-time role.
TP ICAP group is one of the largest interdealer brokers in the world and has had a busy trading desk dedicated to catastrophe bonds and insurance-linked securities (ILS) since 2008.
That ILS desk at TP ICAP was founded by Steve Emmerson, who has 40 years experience in insurance and reinsurance and he was joined by Josh Stannack in 2011.
The TP ILS desk is now one of the leading interdealer brokers for insurance linked securities, perhaps one of the most active desks with a high-volume of trades completed.
The TP ILS desk and team are also known for innovation in the space, as one of the only places you can trade notes of sidecars and some other less-liquid ILS structures.
They also developed an Insurance Linked Notes (ILN) product back in 2018, which went on to be used in a number of transactions that took more private reinsurance deals and made them tradable and securitised.
Josh Stannack will now step up and become the Head of TP ILS with immediate effect.
Stannack told Artemis, “Growing up in this space I have had the pleasure of dealing and learning from the best.
“I am very excited to step into this role while maintaining focus on supporting our clients and adding value to the market.”
Alongside their busy secondary trading desk activities, the TP ILS team already have plans to refresh their ILN product and build on some of their additional client services, such as providing mark-to-market price indications for private ILS instruments, including sidecars.
Steve Emmerson is set to move into a part-time role from January 1st 2023 and will provide support to the TP ILS team on a part time basis.
“I remain, as ever, fully committed to the team and our fantastic clients,” Emmerson said.
“I will be involved for the foreseeable future, and remain fully invested in TP ILS and its continued growth going forward.”
