Pi Lunch with Michael Spencer, Group Chief Executive of ICAP plc
Monday 6th December 12:30pm, Mayfair

Michael Spencer is Group Chief Executive of ICAP plc. Educated at Worth Abbey and Corpus Christi, Oxford, where he read physics, Michael’s career in the City began in 1976, as an investment analyst at Simon and Coates. In 1980, he joined Drexel Burnham Lambert where he spent three years broking futures and became an Assistant V.P. Between 1983 and 1986, Michael was a director at money broker Charles Fulton, until his involvement in the new interest rate swaps market led him to set up Intercapital in May 1986. As a specialist financial derivatives broking firm, Intercapital grew over 10 years from the original four people to over three hundred world-wide, with offices in London, New York, Sydney, Singapore and a joint venture in Tokyo. In October 1998 Intercapital merged with EXCO plc, a listed money broker, and formed Intercapital plc. Michael became Chairman and Chief Executive. The following year Intercapital plc merged again, this time with Garban plc to form ICAP plc. ICAP is the world’s largest interdealer broker and following the recent acquisitions of the BrokerTec and EBS is also the world’s leading electronic broker of fixed income and foreign exchange with a daily transaction volume in excess of $1.6 trillion, 40% of which is electronic. The Group is active in the wholesale market for OTC derivatives, fixed income securities, money market products, foreign exchange, energy, credit and equity derivatives. The company employs 4,500 staff in 32 offices globally. ICAP has a market capitalisation of £2.7 billion and became a FTSE100 company in June 2006. Michael was recently named the Ernst & Young World Entrepreneur of the Year 2010. Michael is also Chairman of the Intercapital Private Group Ltd, a private company which owns leading financial spread betting bookmaker, City Index and various other interests. Michael will step down from his role as Treasurer of the Conservative Party in autumn 2010. His interests include running, wine, art, politics and political history.

If you would like to attend please RSVP to Sara Nori

sn@picapital.co.uk  

020 7529 5656