TP ICAP to hold annual City trading Charity Day despite 2020 disruption TP ICAP to hold annual City trading Charity Day despite 2020 disruption Broker TP ICAP’s Charity Day has become an annual City tradition – and City A.M. can confirm it will run again despite this strange year. Celebrities join brokers to close out deals, with all the revenues and commission generated that day donated to a variety of worthy causes. Whilst this year will see a pivot [...]
Billionaire Icap founder Michael Spencer backs £100m fintech fund Billionaire Icap founder backs £100m fintech fund Michael Spencer, City grandee and founder of interdealer broker Icap, has become the cornerstone investor of a new UK fintech fund that is aiming to raise up to £100m. Spencer will contribute at least £25m to the new fund, Element Ventures, via his investment vehicle IPGL. The fintech fund will focus on emerging firms that [...]
Profits lower at TP Icap as investment banks cut trading Profits lower at TP Icap as investment banks cut trading Broker TP Icap said today it is launching a new joint venture in China with a local conglomerate as it showed lower profits in the first half of the year. Profit before tax fell 3.6 per cent year-on-year to £134m, the company revealed this morning. Read more: TP Icap to move staff out of the [...]
City bigwig Michael Spencer blasts ‘politically motivated’ regulators July 28, 2019 City grandee Michael Spencer has launched a scathing attack on “politically motivated” regulators after his firm successfully challenged a €15m (£13.5m) fine over the Libor rate-rigging scandal. The former Tory party treasurer urged banks to stand up to regulators after his brokerage firm Icap won its court battle against the European Commission earlier this month. [...]
Toasting a deal: Bollinger takes stake in wine merchant backed by Michael Spencer May 30, 2019 Champagne house Bollinger has snapped up a minority stake in a UK fine wine merchant backed by City grandee Michael Spencer. Societe Jacques Bollinger (SJB), the family group behind one of France's most prestigious champagne firms, is understood to have acquired a minority stake of up to 10 per cent in BI Wines & Spirits [...]
City Moves for 13 March 2019 – Who’s switching jobs at CMC Markets, TP ICAP and Newgate Communications? March 12, 2019 Today's City Moves include CMC Markets, TP ICAP and Newgate Communications. CMC Markets CMC Markets has announced the appointment of Ahmed Soliman as senior relationship manager. Growing the company’s Dubai presence and working with the global institutional team located in London, Ahmed will be responsible both for new sales and ongoing relationship management in the [...]
John Phizackerley receives minimum pay out after TP Icap sacking January 30, 2019 Former TP Icap chief executive John Phizackerley was given the minimum legal and contractual allowance after he was sacked from the broker last year. The broker paid £310,000 in lieu of salary over a six month notice period and £11,245 in lieu of contractual benefits after Phizackerley was fired as director of the company in [...]
TP Icap takes legal action over Nex Group deal December 16, 2018 Broker TP Icap is taking legal action against trading business Nex Group over claims that it broke the terms of a deal. TP Icap was formed in 2016 when Tullett Prebon took over Icap’s voice broking business. The rest of the company was renamed Nex Group. TP Icap has accused Nex of breaking a warranty [...]
City broker TP ICAP lines up Man Group director Richard Berliand as new chairman December 1, 2018 Man Group director Richard Berliand is close to joining interdealer broker TP ICAP as the company's new chairman as it looks to regain investors' trust following the chief executive's ousting. Berliand has held big trading roles at JPMorgan and is ICAP's first choice to replace current chairman Rupert Robson. The move is likely to be announced before Christmas and could even [...]
TP Icap in advanced talks to buy US broker Axiom Commodity Group October 31, 2018 TP Icap is in talks to buy US energy broker Axiom Commodities Group, with a multi-million pound deal expected to be signed as soon as this week. The news that TP Icap is to acquire its smaller rival comes as the world’s largest energy broker prepares to publish its third quarter statement on Friday – the [...]