Michael Spencer

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Michael Alan Spencer, Baron Spencer of Alresford (born 30 May 1955), sometimes known as "Spence", is a British billionaire businessman and philanthropist. He is the founder of NEX Group, a UK-based business focused on electronic markets and post-trade business which was acquired by CME Group in November 2018. NEX Group was formerly known as ICAP, until the sale of its voice-broking business to Tullett Prebon in December 2016. Spencer was described in 2018 as the richest self-made person in the City of London and a "City grandee". According to the Sunday Times Rich List in 2021, he is worth an estimated £1.2 billion. He was awarded a peerage in August 2020 in the Political Honours List. He is the father of Patrick Spencer, MP for Central Suffolk and North Ipswich.