Michael Spencer

From MarketsWiki
Jump to: navigation, search
Cinnober logo.gif

Michael Spencer
Michael-spencer.jpg
Occupation Chief Executive Officer
Employer NEX Group
Location London
Website www.icap.com

Michael Spencer is the founder and chief executive officer of ICAP plc, now NEX Group.[1]

Background

Spencer founded IPGL in 1986. He became chairman and chief executive of Intercapital in October 1998, following the Exco/Intercapital merger. He, together with IPGL and its subsidiary INFBV, have interests in 21.7 percent of ICAP plc. IPGL’s other interests include City Index and investments in a variety of other financial services companies.[2]

He was the non-executive chairman of Numis Corporation plc from April 2003 to May 2009, when he resigned. Spencer also resigned from his post as the treasurer of the UK's Conservative Party in October 2010.

On Sept. 29, 2011, it was reported that Spencer was considering a bid by ICAP for the London Metals Exchange.[3]

In June 2014 it was reported that ICAP cut Spencer’s 2014 bonus 75 percent after profit missed targets and the interdealer broker paid a fine to settle a probe by British and U.S. regulators into Libor-rigging.[4]

Awards and Honors

Spencer was awarded a Beacon Special Prize 2007 in recognition of his pioneering approach to philanthropy. He was one of 13 recipients of the prize, which recognizing exceptional philanthropic contribution. Previous Beacon winners include Sir Bob Geldof and Jamie Oliver.[5]

He was also awarded Ernst & Young's Global Entrepreneur of the Year award in June 2010.[6]

References

  1. ICAP Directors. ICAP.
  2. About Us. IPGL.
  3. Icap ‘considering’ bid for LME. Financial Times.
  4. ICAP Reduces CEO Spencer's Bonus 75% After Settlement. Bloomberg.
  5. 2007 Beacon Prize Winners. The Beacon Fellowship.
  6. ICAP founder Michael Spencer wins Ernst & Young's Global Entrepreneur of the Year award. The Telegraph.