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Billionaire Michael Spencer, who built his fortune leading the broker-dealer ICAP PLC, has hired a former executive from the finance firm to help oversee his personal wealth.

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The family office of billionaire City grandee Michael Spencer has hired its third CEO in 12 months.

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Michael Spencer is the founder and chief executive officer of NEX Group, formerly ICAP plc.

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IPGL is the privately held family office established by British entrepreneur and businessman Michael Spencer to manage his business interests.