Michael Spencer

Michael Alan Spencer (born 30 May 1955, Kuala Lumpur, Malaysia) is a British businessman; the chief executive of ICAP plc, the world's largest interdealer broker. He is also currently the owner of spread betting firm City Index.

In the Sunday Times Rich List 2008 ranking of the wealthiest people in the UK he was placed 62nd with an estimated fortune of £1,150 million.^[1]

Biography

Spencer was educated at the Worth Abbey Benedictine (OSB) School, Sussex and at Corpus Christi College, Oxford, where he read physics.

Career

While still a student, he made £30,000 dealing in shares, and then worked at Drexel Burnham. Fired from there for trading errors, he resolved to establish his own empire and Spencer founded Intercapital Private Group Limited in 1986.

In 1998 it was acquired by Exco plc in a reverse takeover and the enlarged business was renamed Intercapital plc.^[2] In 1999, the company merged with Garban plc to create Garban-Intercapital plc,^[3] which renamed itself ICAP plc in 2001.^[3] Spencer remains CEO.

In March 2007 he was named Entrepreneur of the Year at the European Business Leader Awards. In November 2007, he was awarded the prestigious Beacon Fellowship Prize for setting up ICAP's Charity Day.

Michael Spencer was named the Ernst & Young World Entrepreneur Of The Year 2010 at an awards ceremony held on Saturday 5th June, in Monte Carlo's Salle des Etoiles. Mr Spencer was picked from among the more than 50 country finalists vying for the title, each of whom had already been named the Ernst & Young Entrepreneur Of The Year in their home countries. The 2010 awards ceremony marks the tenth consecutive year the Ernst & Young World Entrepreneur Of The Year has been held.

Politics

Spencer stood down as treasurer and member of the board of the Conservative Party in October 2010.^[4]

Personal life

Spencer has homes in Holland Park, London, Suffolk and Manhattan.

Spencer is an avid art collector with an impressive twentieth century and contemporary collection, including the work of Lucien Freud and Scottish artist,Jack Vettriano He is a shareholder and an associate director of Ipswich Town Football Club, but has little interest in football.

References

1. ^ Sunday Times Rich List 2008 online edition
2. ^ Numis Corporation Board Changes
3. ^ ^{a b} ICAP History
4. ^ http://www.conservatives.com/People/Members_of_the_Board/Spencer_Michael.aspx

External links

• Profile in The Observer May 2006

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Name	Spencer, Michael
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Date of birth	30 May 1955
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