Michael Spencer has offloaded the majority of his nine per cent stake in TP Icap, shortly after the company was formed.
TP Icap was born after Tullett Prebon acquired the voice broking business of Icap, the company which Spencer led as chief executive.
Spencer is now chief executive of Nex Group, which is the new name for Icap.
The boss took on a near-nine per cent stake in TP Icap when the deal went through at the end of 2016.
This shareholding now stands at less than one per cent after Spencer’s investment vehicles IPGL and Incap sold stakes in TP Icap.
Spencer took advantage of TP Icap’s heightened share price, which is trading at its highest level since the financial crisis.
TP Icap’s share price is down around two per cent today at 459p after closing at 460p on Monday and 471p on Friday.
The company’s shares flew last Friday after a trading update for the last three months of 2016 reported a 12 per cent revenue increase.