The Finance Foundation
Reinventing capitalism for all
President of the Finance Foundation

Michael Spencer does it again
November 16, 2015 , Michel Gabrysiak - Financial Markets

            Michael Spencer does it again. With success. The company he created; ICAP, one of the biggest broker dealers in the world.He announced that he was “merging”, “selling”, well, getting together with Tullet Prebon.

            Let’s try to understand; Mr Spencer is selling but he is selling for the shares of Tullett Prebon. The end result is that Mr Spencer and his co-shareholders in ICAP own 60% of Tullett Prebon.

            Michael Spencer will be a simple advisor in the new company. But he is the main shareholder. 

            I let you think about who is the boss. 

            Apart from that, the new Tullett Prebon will be, by far, the biggest broker dealer in the world. 



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