=LEFT(A1,1)&IFERROR(" "&LEFT(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)),1),"")&IFERROR(" "&LEFT(RIGHT(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)),LEN(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))-FIND(" ",RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))),1),"")&IFERROR(" "&LEFT(RIGHT(RIGHT(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)),LEN(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))-FIND(" ",RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))),LEN(RIGHT(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)),LEN(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))-FIND(" ",RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))))-FIND(" ",RIGHT(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)),LEN(RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))-FIND(" ",RIGHT(A1,LEN(A1)-FIND(" ",A1,1)))))),1),"")
Extremely messy I know but this will work out up to 4 initials. It finds modifies the text by removing the left most name each time hence the length of the formula.
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