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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.

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Disasters and political turmoil boost Icap ICAP 'on target' but analysts raise concern Michael Spencer under fire on timing of Icap shares sale City tycoon Michael Spencer's £1bn break-up

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Disasters and political turmoil boost Icap

31.03.11
Michael Spencer's broking giant Icap enjoyed a strong final quarter to its financial year as political unrest and natural disasters led to highly volatile markets... more

It's time for more in City to follow ICAP way of giving

07.02.11
How much is enough? It's a question I was asked last week by a senior minister as he pondered what could be done to encourage the City to give more... more

ICAP 'on target' but analysts raise concern

02.02.11
Icap, the broking giant run by former Tory party treasurer Michael Spencer, says it is on target to hit profit forecasts... more

Former Tory treasurer firm City Index fined

20.01.11
City Index, the spread-betting firm owned by former Tory party treasurer and City bigwig Michael Spencer, has been fined £490,000 for failing to report some two million trades accurately... more

Spencer sells £31million Icap shares to pay off private debts

07.12.10
Michael Spencer, Conservative party treasurer, has sold another £31 million worth of shares in Icap, the giant broking firm he created, in order to reduce the borrowings of his private company which owns spread-betting firm City Index... more

Revenue at broker Icap beats 'quiet markets'

17.11.10
Broking giant Icap reports a 2% rise in its first half profits despite what it called “generally quieter markets” ... more

Icap fends off poachers to meet City forecasts

30.09.10
Michael Spencer flies in from seeing off a rival who was trying to poach 40 of his staff in Singapore to reassure investors that Icap remains on course to meet expectations... more

'Abuse victim’ can sue school for £5m

27.08.10
A man has been given the go-ahead to pursue a £5 million legal action against a Jesuit-run school where he claims he was sexually abused as a child... more

Icap boss Michael Spencer stays on message for Cameron-Clegg coalition

19.05.10
Michael Spencer, chief executive of giant broker Icap and treasurer of the Conservative party, says: “Dave and Nick are doing a good job”... more

Michael Spencer tries to calm City with Icap profits

24.03.10
Michael Spencer, chief executive of giant broker Icap, seeks to reassure the City after issuing a profits warning in February... more

Icap exits cash equities with 114 jobs at risk

22.03.10
Michael Spencer’s financial broking firm Icap is pulling out of stockbroking in European and Asian shares, putting 114 jobs at risk... more

Tory treasurer Michael Spencer sold shares before profits warning

05.02.10
The Tory party treasurer Michael Spencer is criticised after he sold a massive share stake in his broking business before it issued a profits warning... more

Michael Spencer under fire on timing of Icap shares sale

05.02.10
Icap, London’s biggest interdealer broker, is forced to defend the firm’s founder and chief executive Michael Spencer as its issued a shock profits warning weeks after he sold a huge share stake... more

Be under no illusion: City has had enough

14.12.09
THE likelihood of staff from Tulletts and Icap heading overseas is a mighty blow to the City. ... more

Accenture must flee Tiger’s grasp

02.12.09
... 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

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

'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

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

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

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

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

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

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

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  • 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.

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