Michael Spencer

Early Life and Education

Michael Alan Spencer was born on May 30, 1955, in Kuala Lumpur, British Malaya. His father worked as an economist and civil servant, which led to the family moving to different countries during his childhood. He attended Worth School in Sussex, England, and later studied Physics at Corpus Christi College, Oxford.

Rise to Success

Spencer began his career in the financial industry in 1976 at Simon & Coates. He subsequently worked at Drexel Burnham Lambert before becoming a director at Charles Fulton. In 1986, he co-founded Intercapital Brokers, which later became ICAP. Under Spencer's leadership, ICAP grew into a global financial powerhouse and was included in the FTSE 100 index.

Key Business Strategies

ICAP revolutionized the trading world by introducing electronic platforms. Spencer's strategic vision led to ICAP's sale of its voice broking business and the rebranding of the remaining operations as NEX Group, which focused on electronic markets and post-trade technology. NEX Group was later acquired by CME Group in 2018. Spencer also invested in various fintech firms through his private investment firm, IPGL Group.

Philanthropy

Spencer is known for his significant philanthropic contributions. In 1993, he founded the ICAP Charity Day, an annual event that has raised over £170 million for charities worldwide. He is also involved in conservation efforts through the Borana Conservation Trust in Kenya.