Weather Morning: 10°c Sunny spells Afternoon: 11°c Sunny

News

HEADLINES:
RSS

Michael Spencer

Michael Spencer is a British businessman and entrepreneur. In 1986, Spencer founded and serves as chief executive of ICAP plc, an inter-dealer money broker, which acts on behalf of financial institutions instead of private individuals. Spencer also owns City Index, a spread-betting firm. ICAP, was valued at £4.5billion at the start of 2008 but plunged to £2.2billion by April 2009, as did Spencer’s personal worth, dropping him from £1.15billion, to £250million.

Related pictures

Booming bonds are boosting Icap's profits as revenues rise City tycoon Michael Spencer's £1bn break-up

Related topics: 

Latest articles

The women who built Brand Cameron

08.10.09
Dusty pinstripes and car coats are no more. The new Tory image has been crafted by experts... more

Icap confirms outlook despite summer gloom

01.10.09
Icap, the interdealer broker headed by one of the City’s wealthiest men Michael Spencer, today said it is on course to hit its full-year profit targets despite a “pronounced seasonal slowdown during the summer” ... more

Booming bonds are boosting Icap's profits as revenues rise

15.07.09
ICAP, Michael Spencer's interdealer broking giant, said booming bond markets and lively trade in commodities meant it is on track to nearly match last year's profits... more

C&W leads fallers as City sentiment begins to wane

21.05.09
Cable & Wireless was London's biggest dud today as its house broker reined in forecasts for the coming year... more

Icap's Spencer scoops a £23.5m dividend

19.05.09
Michael Spencer was awarded a £23.5million dividend after his broking firm Icap beat forecasts with a 5% rise in profits ... more

Clearnet board to consider Icap bid

11.05.09
A takeover bid worth around €830 million (£744million) for London's leading financial clearing house LCH.Clearnet will be discussed by its board early this week.... more

'I asked the priest who abused me to officiate when I got married'

06.05.09
Patrick Raggett, the former City lawyer who has won the right to sue a Catholic college for £5m, tells the harrowing story of how the buried memories of his sufferings at school destroyed his career... more

Numis appoints Blair's 'Red Tape Czar' chairman

05.05.09
Stockbroking house Numis moved to beef-up its board by appointing two City big-hitters ... more

Court accepts City lawyer's claim of sex abuse by priest

05.05.09
A former City lawyer won a key battle in his claim for £5million damages when the High Court accepted he had been sexually abused by a Jesuit priest between 1969 and 1976... more

Spencer finds £70m to aid spread-better

02.03.09
Broking: Tory Party treasurer Michael Spencer has reportedly been forced personally to bail out his spread betting firm City Index to the tune of £70 million after a handful of punters failed to pay up on big losses... more

Who's in and who's out

23.02.09
... more

Spencer exits Numis after stake sell-off

18.02.09
Stockbroking: Michael Spencer, one of the richest men in the City, has sold almost all of his personal stake in broker-cum-investment bank Numis, and is stepping down as its chairman... more

ICAP lines up a rival bid for LCH.Clearnet

02.02.09
ICAP has confirmed it is working on plans to take over LCH.Clearnet, the back-office share-settlement house in the midst of a sale to a US rival... more

Support by City may backfire on Tories

12.01.09
Stanley Fink, the former chief executive of Man Group, is a hugely able guy, but that does not make it a wise decision for him to become joint treasurer of the Conservative party with Icap's Michael Spencer... more

Credit crunch quiz

29.12.08
It was the year the economic bubble finally burst, but can you remember the financial events that made the headlines in 2008? Nick Curtis asks the questions... more

Spencer kept quiet about using shares as loan guarantee

23.12.08
Michael Spencer, the Tory party fund-raiser and one of the richest men in the City, revealed to have taken out loans against his substantial shareholding in stockbroker Numis and not made them public... more

Commentary: Rules make it hard to tell what directors are meant to reveal

23.12.08
In the 15 days since Carphone Warehouse disclosed that its deputy chairman, David Ross, had pledged his £157 million stake in the firm against personal loans, City lawyers have been rushing to reassess their advice to clients who are directors of public companies... more

Directors of Numis hit by shares error

21.11.08
Shares: There were red faces at broker Numis today after it was forced to admit its directors' stock holdings have not been in order... more

BGC's 'Brooklyn Bruiser' Amaitis to take a back seat

06.11.08
One of the biggest bull elephants in the hypercharged world of interdealer broking is to stand down from day-to-day business... more

The beginning of the end says the City’s top player

09.10.08
After yesterday’s £500 billion bail out to the banks, Michael Spencer, the richest self-made man in the Square Mile talks exclusively to the Standard about who’s to blame... more

Finance

08.10.08
Britain will look to the Square Mile to pull it out of the economic mire, and these are the big names who will deliver the recovery. ... more

Bidder for Collins Stewart walks away

25.09.08
Stockbroking: City pugilist Terry Smith saw his second big deal in a fortnight fall apart as an unnamed bidder walked away from his £250 million broker and investment bank Collins Stewart... more

Anxious times for the hedgies at RAB Capital

12.09.08
THE received wisdom in hedge fund land is that the moment you start dictating to your investors how long they must stay, you are dead. ... more

Tullett and GFI tie-up plan is over

10.09.08
Shares in Terry Smith's interdealer broking firm Tullett Prebon crashed 11 ¼p to 386 ¾p after plans for a £1.6billion merger with New York's rival GFI Group collapsed... more

Counting cost of sterling slide

03.09.08
A couple of months ago, a pound was worth two dollars. Yesterday, it fell through $1.80. It would be no surprise to me to see it slide to $1.65 before Christmas. Even that, given the way markets work, needs not be the floor. ... more

City tycoon Michael Spencer's £1bn break-up

29.08.08
Billionaire Tory Party treasurer Michael Spencer has separated from his wife after 25 years of marriage... more

Class war in the City as rival brokers square up

05.08.08
One of the biggest class wars seen in the City broke out as working class East Ender Terry Smith set out his plans to rival Tory grandee Michael Spencer... more

Tullett Prebon eyeing a GFI tie to challenge Icap

05.08.08
Deal would give Terry Smith's arch-rival a run for its money as the world's biggest broker to the brokers ... more

Who's in and who's out

21.07.08
... more

Broker Icap is thriving in the turmoil

16.07.08
Turmoil in financial markets may be giving many in the City nightmares - but it is good news for interdealer broker Icap... more

More related topics: Michael Spencer and

  • Facts
  • Spencer was born in 1955, in Kuala Lumpur, Malaysia
  • Spencer is known for having made money dealing in shares whilst still a student at Corpus Christi College, Oxford (reading physics)
  • Spencer has homes in Holland Park (London), Surrey, and Manhattan (New York City, USA)
  • Spencer owns shares in Ipswich Town Football Club, and is an associate director, despite supposedly having little interest in the sport
  • Spencer has been named at the European Business Leader Awards as Entrepreneur of the Year (2007) and in the same year, Spencer was awarded the Beacon Fellowship (a prestigious prize for philanthropy) after organising ICAP’s Charity Day – a day where all of the company’s revenues and commissions are given to charity.

Latest pictures


LondonBuzzProvided by Google

Don't Miss

Top Gun Val Kilmer's arty mission to save the world

The Iceman cometh to the arts. Val Kilmer has been in London this week on what he terms "an art safari"

All stories

Promotions

The Open University

Every year The Open University helps thousands of professionals progress in their careers.


Win the Best Seats

In London theatre when you vote for your favourite celebrity spec wearer.


Breast Cancer Care

Donate £1 and leave a message of support for a loved one in the Swarovski Garden of Wishes.


Win an iPodTouch

With Courvoisier when you share your thoughts on this week's cocktail.