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CEO of Temple Grange, Eoin O’Shea, said the idea grew out of his frustration at not finding the regulatory and compliance specialists he needed when at Credit Suisse. He is seeking to build for compliance professionals the same sort of outsourced service model that has emerged for IT contractors in the last 15 years.
Mr Spencer’s record “of understanding and benefiting from innovation and structural change in the City will be an invaluable asset”, Mr O’Shea said. Besides building up ICAP from a punchy 1980s start-up in a nascent global derivatives market to a £3bn company, Mr Spencer has regularly invested in other ventures, including BI, a fine wine merchant, and Probability, a mobile gaming software company. He netted more than $80m in 2014 from the sale of City Index, a spread betting company, to US group Gain Capital. “Given the structural change happening in the financial services industry and the increasing complexity of regulatory requirements, Temple Grange Partners have got their timing absolutely right,” said Mr Spencer.
https://www.ft.com/content/b4566d04-c4a3-11e7-a1d2-6786f39ef675
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