Spencer speaks to new generation

Few areas of the capital markets are as dominated by the old school tie and boyish bad behaviour as the inter-dealer broking community. It’s an industry that, rightly or wrongly, is still seen by many as the last place you can land a job without having a degree.

So Michael Spencer, CEO of Icap, the world’s largest voice and electronic brokerage for fixed income, should perhaps be praised for his voluntary efforts to encourage under-represented groups, such as women, into going after City jobs.