Spencer Hires Schroders Veteran to Manage Family Wealth

Billionaire Michael Spencer is having a new person run his family's money office, called IPGL.

He hired Simon Brazier, who used to work at Schroders.

Brazier will be in charge of the money, replacing Seth Johnson.

IPGL invests in different companies and manages a lot of money.

Spencer, who made his fortune in the finance industry, is bringing in Brazier to help with investments.

Brazier is seen as a good leader with experience and will work with Spencer and Johnson during a changeover period.

Spencer sold his company, Nex, a few years ago.