Asian broker poaching spreads to Singapore

BGC Partners' aggressive poaching of brokers has ratcheted higher with more than 50 Prebon Yamane staff in Singapore resigning to join the new firm.

The mass walkout follows 24 Icap Sydney staff jumping to BGC's new Australian office three weeks ago amid a flurry of legal challenges (see FO Week Vol 10 No 5).

Prebon also fought back by obtaining an emergency interim injunction against BGC. However, Sigapore's High Court later lifted the...