Michael Spencer, city tycoon and founder of market operator ICAP, now NEX Group, has decided to make a substantial contribution to a new UK fintech fund. Spencer plans to invest at least £25 million in the UK fund Element Ventures, through his private holding company IPGL. This is one of the largest investments made by…
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Retail FX brokerage group GAIN Capital Holdings Inc (NYSE:GCAP), parent company of FOREX.com, has announced that Mark Richards, a member of the Board of Directors was resigning from the Board, effective immediately. Mark Richards, CEO of IPGL Limited, was appointed to the GAIN Capital Board less than a year ago, as the IPGL representative on the…
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LeapRate Exclusive... LeapRate has learned that FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP) has added one of the most connected people in the London electronic trading scene to its board of directors - Mark Richards (pictured above), the CEO of IPGL Limited. IPGL is the private holding company of Michael Spencer, founder and CEO of NEX…
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LeapRate Exclusive... LeapRate has learned via regulatory filings that electronic trading network operator NEX Group PLC (LON:NXG) has made more than £11.5 million (USD $15 million) worth of bonus share grants to senior management. The largest grant worth $5.4 million went to NEX Group CEO Michael Spencer. DSBP Award PSP Award Total Shares Value £ Value US$…
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Markets operator and provider of post trade risk mitigation and information services ICAP plc (LON:IAP) has announced its results for the six months ended 30 September 2016. The transaction with Tullett Prebon has received FCA clearance and remains on track to complete this year, subject to outstanding change of control consents Group revenue from continuing…
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On 8 September 2016, ASIC has banned Michael Spencer, formerly a financial adviser, from providing financial services for three years. ASIC has found that Mr Spencer engaged in manipulation of the price of three types of MINI warrants issued by Credit Suisse, commonly called "MINIs". MINIs are a type of derivative product traded on the…
Read moreJust three days ago, EBS BrokerTec, ICAP Plc’s (LON: IAP) market-leading electronic foreign exchange (FX) and fixed income business, has announced that Jim Iorio joins the company as Global Head of Sales and will sit on EBS BrokerTec’s Executive Management Committee. Today, ICAP has announced that EBS BrokerTec's CEO, Gil Mandelzis, has decided to step…
Read moreAsset management giant Schroders PLC has made a slight reduction in its shareholding of ICAP, whilst shares in the British interdealer broker increased by 2.74% on Friday after a Conservative win in the General Election quells the notion that the firm would relocate if the result had swung toward Labour
Read moreAnother brain drain similar to that of the 1970s could occur, potentially damaging London's highly established institutional trading sector, should the Labour Party win the UK General Election. Michael Spencer, CEO of ICAP is one example, as he would consider moving the company to North America
Read moreMichael Spencer, ICAP Group Chief Executive, will become Chairman of EBS-BrokerTec. Gil Mandelzis, founder of Traiana and current CEO of EBS, will become CEO of the new EBS-BrokerTec business
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