Michael Spencer, the Founder and Chief Executive of money broker ICAP, is reported to have grabbed position by being named the first UK winner of Ernst & Young's Global Entrepreneur of the Year competition.

She competed against 50 other country winners in EY’s World Entrepreneur competition and is one of only two women to have honored by the position.

Foreman, the Chairman of Emerald Group, quoted, "For me and my commercial life, its right up there with being part of Trigon [the Hamilton-based plastics manufacturer she and former husband Bill build up and sold for a reported $130 million in 1996]. It’s just fantastic to have this opportunity."

The competition was organized in Monte Carlo over the weekend.

The overall winner, EY’s World Entrepreneur of the Year for 2010, is Michael Spencer; Group CEO of British Financial Services Company, ICAP Plc.

ICAP has been recorded as the best-performing financial stock on the FTSE 100 index for the past 10 years, highlights the press release.

Ms. Spencer, who seeks to retire as Tory treasurer in the autumn, launched what was to become ICAP in 1986 with £50,000 and three staff and developed it into the world's biggest financial middleman, known in the trade as an inter-dealer broker.