Spencer named City's 'most powerful' man

THE chief executive of money-broking giant Icap has been named the most powerful person in the City by The Business magazine.

THE chief executive of money-broking giant Icap has been named the most powerful person in the City by The Business magazine.

Michael Spencer, who has a home in Suffolk, founded Icap in 1986. The company is now estimated to be worth around £3billion, with Mr Spencer's personal stake valued at £600 million.

The 51-year-old - who previously hit the headlines by splashing out £1.5million on a family birthday celebration in Canne, featuring life music by Robbie Williams - owns a home near Woodbridge and holds a near-15% stake in Ipswich Town Football Club.

Mr Spencer invested about £250,000 in the club during a recent share issue but is understood to have declined the offer of a place on the board as a result of other commitments.


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Broadcaster and journalist Andrew Neil, editor in chief of The Business - founded in 2002 as a Sunday newspaper but re-launched yesterday as Britain's first global weekly business magazine - said: “Nobody has made a greater contribution in recent times to making London the world finance capital than Spencer.”

Fund manager Anthony Bolton of Fidelity comes in second on the list while Damon Buffini, managing partner at private equity firm Permira, takes third place.

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Marks & Spencer boss Stuart Rose, who also has a home in Suffolk comes in at 24 in the list, one place above his rival Sir Philip Green, the owner of BhS and Arcadia.

Four women make the top 50, with Morgan Stanley managing director Amelia Fawcett the highest placed at 19. City head-hunter Anna Mann takes 29th place while Amelia Morris, senior analyst at Brandes Investment Partners, is at number 35. Clara Furse, chief executive of the London Stock Exchange, is at number 40.

Media tycoon Rupert Murdoch's son James Murdoch, chief executive of BSkyB, is the youngest person to make the list, aged just 34.

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