Michael Spencer backs start-up consultancy Temple Grange Partners

Michael Spencer

Michael Spencer has backed London-based consultancy Temple Grange Partners, which he said is bound to go "from strength to strength".

The entrepreneur and chief executive of Nex Group made £200m in January on the sale of shares in interdealer broker TP ICAP and has now become a significant backer of Temple Grange Partners, which finds compliance specialists for financial institutions.

Read more: Michael Spencer's Nex warns on profits at its Optimisation business

Temple Grange Partners is seeking to take advantage of the increasingly complex regulatory environment faced by financial firms. It seeks out specialists in areas such as money laundering and cyber security, and advisers for complex events such as Brexit.

Spencer said: "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, and I am confident they will go from strength to strength.”

Eoin O’Shea, founder and chief executive of Temple Grange Partners, said the financial services sector faced "stressful times" ahead and that the fast growth of the compliance sector meant it could not rely on a traditional staffing model.

Full story: Michael Spencer backs start-up consultancy Temple Grange Partners: City A.M.

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