Formula required for initials of names and combining initials with other text

Hi Guys,

I need some help here for making formulas

1) I want formula For initials Of a name :

Ilyas Abdul Rauf Shaikh = It should be like this - I A R S (with spaces)

Ilyas Rauf Shaikh = I R S

Ilyas R Shaikh = I R S

Ilyas Shaikh = I S

Ilyas S = I S

I Shaikh = I S

(i want a formula for all above cases)

2) Second one

Ilyas Shaikh
Code - 3FF21GT4123F1WQE

result should be like this First letter of Ilyas then Code and then last letter of shaikh

I3FF21GT4123F1WQEH (without Spaces )

Thanks in advance for help!