UK Tote Group bolsters board with double hire

UK Tote Group, which operates the Tote, has announced the appointments of two non-executive directors (NED) in the shape of Lord Michael Spencer of Alresford and Mark Holt. Lord Spencer, who joins the Wigan-based firm as one of the company’s investors, founded Intercapital in 1986, which became ICAP (now NEX Group) in 1999. He was the chairman and CEO of the FTSE 100 firm which was acquired by CME Group for $5.4bn in 2018. Lord Spencer has also served as chairman of IPGL, a private company that owns spread betting outfit City Index, and was also previously chairman of institutional stock broker Numis Corporation. He is also heavily involved with the Conservative Party; he was treasurer between 2006 and 2010 and was later appointed chairman of the Conservative Foundation in 2011, a job he still currently holds. Holt joins UK Tote Group as a technology-focused NED and brings a vast amount of experience from the tech industry with him. He has held a similar position in the igaming industry and was made a NED at Camelot in January 2020. Holt has worked for several tech companies before becoming CTO at tech services company CPA Global in 2012. Before joining the pool betting operator, Holt held the role of chief product and engineering officer at 10X Banking Technology Services. He also spent six years as CTO at Trainline. John Williamson, UK Tote Group chairman, said: “During an exciting time of growth for Tote, we are delighted to appoint Lord Spencer and Mark to the UK Tote Group board. “Michael has been an investor in the Tote from the outset and continuing to share his unrivalled experience across the business world as a board member will be an incredibly valuable support to our team. “Mark’s technological expertise will be of significant benefit as we continue to develop and improve the Tote’s pool betting engine.” UK Tote Group CEO Alex Frost and the racing and liquidity director, Jamie Hart, recently spoke to EGR to discuss how they have breathed new life into this institution of British horseracing since it was acquired from Betfred in 2019.