Michael Spencer, Group Chief Executive of ICAP, has been awarded a coveted Beacon Special Prize 2007, in recognition of his pioneering and hugely successful approach to modern philanthropy.

Michael is one of just 13 recipients of the Prize this year, all of whom were chosen for their exceptional philanthropic contribution through the giving of their time, money and skills in order to benefit specific charitable causes. He has joined the ranks of previous Beacon winners such as Sir Bob Geldof, Jamie Oliver and environmentalist, Zac Goldsmith who have all been recognised for their charitable work through what has become known as the 'Nobel Prize of the charity world', first coined by Prime Minister Gordon Brown.

Michael introduced ICAP's Charity Day in 1993, and it has now been running continuously for 14 years in ICAP offices around the world. The firm's staff (approximately 3,700 employees), with the support of their customers, have collectively raised over 34 million pounds for charity, and countless individuals have been touched by the philanthropic efforts of the firm.

ICAP's Charity Day offers an opportunity for those in the financial world to actively contribute positively to those in need in a unique and effective form of philanthropy. The idea that customers support the day by channelling their business via ICAP and ICAP's staff contribute their earnings from that business is potentially a complex concept to communicate. Michael's persistent rallying has made the day an enjoyable experience for both staff and customers, by enlisting celebrity support and encouraging a relaxed atmosphere.

Beacon's Chairman Martyn Lewis said: : "We are especially pleased to honour Michael for his drive and innovation. He has pioneered a new strategy of giving that is a sustained form of corporate social responsibility and brings high net worth individuals in contact with giving; a model that has other organisations in the sector have chosen to replicate."

Lord Richard Attenborough stated that "it is Michael's personal commitment to the concerns of others that results in both the manner and scale of the benefactions that are annually dispersed."

The Prize Ceremony took place on 22nd November at The Banqueting House, Whitehall, when 13 winners were inaugurated as Beacon Fellows, a community of Beacon Prize winners who together, champion charitable causes across the globe and nurture a wider culture of giving in the UK.

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For further information on the Beacon Prize, winners' biographies and photos of the 2007 award recipients or on The Beacon Fellowship Charitable Trust contact Fintan Nicholls on 0207 203 8295 or email fintan.nicholls@beaconfellowship.org.uk