The appointments will bring “valuable experience and significant expertise from the business world” to the board, as the company looks to support growth, product innovation and customer experience.
Lord Michael Spencer of Alresford joins Tote Group as one of the company’s investors, after previously founding interdealer broker ICAP and its successor company, NEX. US company CME Group purchased NEX in 2018, with Spencer focusing on investments through his IPGL firm since then.
Mark Holt joins Tote Group as a non-executive director, bringing extensive tech industry experience to the company. Holt currently serves as Chief Product and Engineering Officer at 10X Banking Technologies Services, previously holding Chief Technology Officer positions at CPA Global in 2012 and Trainline in 2014.
Tote Group Chairman John Williamson said: “During an exciting time of growth for the 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.”
The Tote recently reported record-breaking results from day two of Royal Ascot 2022. The World Pool share saw a 29% increase from the previous year, totalling £33.7m ($40.6m), a rise from the previous day’s total of £31.6m.
