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Nex chief Michael Spencer slashes stake in TP Icap

Shares in TP Icap are trading at highs not seen since the financial crisis

Tuesday 10 January 2017 at 12:00

Michael Spencer's new firm is focused on electronic trading, post-trade and fintech
Michael Spencer's new firm is focused on electronic trading, post-trade and fintech Photo: FN Library

Michael Spencer, the chief executive of Nex Group, has reduced his holding in TP Icap to less than 1% after shares rocketed to levels not seen since the financial crisis.

Spencer has reduced his stake in TP Icap from almost 9% to roughly 0.8%, according to a January 10 regulatory filing. The shares are held in Spencer's name through the IPGL and INCAP vehicles.