Michael Spencer is one of the UK’s most successful entrepreneurs. In a career spanning over 40 years on the financial markets, Michael set up a specialist derivatives broker in 1986, Intercapital, took it public via a merger with EXCO in 1998 and a year later merged it with Garban to become ICAP, a company that joined the FTSE 100 2006.
In 2016, ICAP completed the sale of its voice broking business to Tullett Prebon allowing Michael to become Chief Executive Officer of NEX Group Plc which was then acquired in November 2018 by CME Group in a transaction worth over $5.6bn.
He founded ICAP Charity Day in 1993 where for one day each year the Company’s global revenue, including broker commissions, were donated to charity. Since it was founded the event has raised nearly £140 million for 2,200 charities worldwide.
Michael has a long history of investing in early stage companies via his Private Investment company, IPGL, in across a wide variety of industries, notably the Life insurer Singapore Life, the Investment Platform AJ Bell, the English Winemaker Chapel Down and the FemTech startup Chiaro. Michael is a director of Bordeaux Index Ltd and chairman of The Conservative Party Foundation. In early 2020, Michael became Chairman of the CPS. Michael was nominated for a life peerage in the 2020 Political Honours list and was created Baron Spencer of Alresford on 17 September 2020.
Michael was educated at Worth Abbey and Corpus Christi, Oxford, where he read Physics.