Ernst and Young World Entrepreneur Of The Year 2010

ICAP’s Michael Spencer named Ernst & Young World Entrepreneur Of The Year 2010
Monte Carlo, 6 June 2010 – Michael Spencer, Group CEO of the UK’s ICAP plc, was last night named the Ernst & Young World Entrepreneur Of The Year 2010 at an awards ceremony held in Monte Carlo’s Salle des Etoiles. Spencer was picked from among the more than 50 country finalists vying for the title, each of whom had already been named the Ernst & Young Entrepreneur Of The Year in their home countries. The 2010 awards ceremony marks the tenth consecutive year the Ernst & Young World Entrepreneur Of The Year has been held.

ICAP plc, which has been the best performing financial stock in the FTSE 100 index over the past decade, is one of the world’s most innovative financial services companies. Started with US$45,000 in 1986 as an interest swap broker, today it is a world leading inter-dealer broker and provider of post-trade services, handling a large portion of the world’s foreign exchange and financial instrument transactions. It has an average daily transaction volume measured in trillions of US dollars and revenues of more than US$2 billion.

Guy Zarzavatdjian, Managing Partner, Growth Capital of 3i Investments plc and Chairman of the judging panel said, “ICAP is both a financial and a technological innovator and through scale and technology brings costs down to benefit its customers. It has a huge impact and the judges were very pleased to bestow the title of World Entrepreneur Of The Year 2010 on Michael.”

“I’m very happy to accept this award on behalf of all of us at ICAP,” said Spencer. “To be picked from such an amazing group of entrepreneurs from around the globe is both a surprise and an honor.”

“Michael is the epitome of an entrepreneur. He is a financial-services pioneer who has led ICAP to become the world’s largest inter-dealer broker operating in the wholesale financial markets,” said Greg Ericksen, Ernst & Young’s Global Vice Chair for Strategic Growth Markets.

“We first started World Entrepreneur Of The Year ten years ago,” said Jim Turley, Global Chairman and CEO of Ernst & Young. In that time we’ve seen some real economic shifts, with globalization, the rise of the emerging markets and the internet changing the way we do business. But one thing has remained constant – the power of the entrepreneur. Their optimism, ability to spot opportunities and sheer hard work continues to drive positive change and inspire others around the world. Michael embodies this entrepreneurial spirit and is very worthy of the title Ernst & Young World Entrepreneur Of The Year 2010.”

About Michael Spencer and ICAP
ICAP is the world’s premier interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. Michael Spencer founded Intercapital in 1986 and became Chairman and Chief Executive in 1998, following the Exco/Intercapital merger.

About Entrepreneur Of The Year
Ernst & Young Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement.

As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.  Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

Source: This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.