{{short description|British financier (born 1963)}} {{Use dmy dates|date=August 2021}} {{Infobox person | name = Ian Wace | image = Ian Wace, Chief Executive, ARK, speaking at the GAVI pledging event in London.jpg | caption = Wace in 2011 | birth_date = {{Birth year and age|1963|01}} | birth_place = | death_date = | death_place = | death_cause = | education = | alma_mater = | occupation = Financier | known_for = Co-founder and CEO of Marshall Wace Asset Management | title = | term = | predecessor = | successor = | boards = | spouse = {{marriage|Joanne Wace||1994|end=d.}}<br>{{marriage|Fiona Hardy|1996|2010|end=div.}}<br>{{marriage|Saffron Aldridge|2012}} | children = 4 (2 deceased) | parents = | relatives = Charles Wace (brother) | website = }}
'''Ian Gerald Patrick Wace''' (born January 1963) is a British financier who co-founded Marshall Wace Asset Management, a London-based hedge fund with Paul Marshall in 1997.<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/private/person.asp?personId=6259153&privcapId=3734281&previousCapId=10219617&previousTitle=MARFIN%20CLR%20PUBLIC%20CO%20LTD |url-status=dead |archive-url=https://archive.today/20130410170745/http://investing.businessweek.com/research/stocks/private/person.asp?personId=6259153&privcapId=3734281&previousCapId=10219617&previousTitle=MARFIN%20CLR%20PUBLIC%20CO%20LTD |archive-date=2013-04-10 |title=Ian Wace| publisher=Bloomberg Businessweek |accessdate=14 March 2013}}</ref> He and Marshall, along with another hedge fund manager Arpad Busson, co-founded a children's non-profit, Absolute Return for Kids (ARK) in 2001.<ref name="tragedy"/>
==Early life== Ian Gerald Patrick Wace was born in January 1963.<ref>{{cite web|url=https://find-and-update.company-information.service.gov.uk/officers/C6RKNS68goFBRuo-sMdLVBlCjXA/appointments|title=Ian Gerald Patrick WACE - Personal Appointments (free information from Companies House) |website=Companies House|accessdate=29 January 2018}}</ref> His brother Charles Wace is CEO of global television production company Twofour Group.{{Citation needed|date=January 2018}} He does not have a college degree; ''Institutional Investor'' called him "perhaps the only person without a college degree to ever qualify for the Rich List".<ref name="ii">{{cite news|title=The 2016 Rich List: Ian Wace|url=http://www.institutionalinvestorsalpha.com/Article/3552071/Research-and-Rankings/The-2016-Rich-List-Ian-Wace.html|accessdate=9 February 2018|work=Institutional Investor|date=10 May 2016}}</ref>
==Career== Wace worked for 11 years at S. G. Warburg & Co., where he became its youngest director ever, at age 25. Rising steadily through the ranks, he was appointed head of European equity sales in 1988, head of proprietary trading in 1993, and head of international trading in 1994. In 1995, he joined Deutsche Morgan Grenfell as its head of equity and derivative trading.<ref name="bb">{{cite web|title=Ian Wace|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=6259153&privcapId=3734281&previousCapId=3734281&previousTitle=Marshall%20Wace%20LLP|website=Bloomberg|accessdate=9 February 2018 |url-status=dead |archive-url=https://web.archive.org/web/20180210002431/https://www.bloomberg.com/research/stocks/private/person.asp?personId=6259153&privcapId=3734281&previousCapId=3734281&previousTitle=Marshall%20Wace%20LLP |archive-date=2018-02-10}}</ref>
In 1997, he and Paul Marshall co-founded the hedge fund Marshall Wace, which they continue to run together; Wace is the CEO and chief risk officer, and Marshall is the chairman and chief investment officer.<ref name="partners">{{cite web|title=Marshall Wace Partners|url=https://www.mwam.com/people|website=Marshall Wace|accessdate=9 February 2018|archive-date=23 August 2018|archive-url=https://web.archive.org/web/20180823212518/https://www.mwam.com/people|url-status=dead}}</ref> In September 2015, they announced a long-term strategic partnership with the private equity firm Kohlberg Kravis Roberts (KKR), which acquired a 24.9% stake in Marshall Wace, which they increased to 29.9% in November 2017.<ref name="chad">{{cite news|first1=Alexandra |last1=Stevenson|first2=Chad |last2=Bray|title=K.K.R. Takes 24.9% Stake in Hedge Fund Marshall Wace|url=https://www.nytimes.com/2015/09/10/business/dealbook/kkr-marshall-wace-deal.html|accessdate=9 February 2018|work=The New York Times|date=10 September 2015}}</ref>
In 2016, ''Institutional Investor'' named Marshall Wace the "best-performing hedge fund in 2015", which manages $22 billion in client money.<ref name="cox">{{cite news|last1=Cox|first1=Jeff|title=Marshall Wace leads hedge fund rankings for 2015|url=https://www.cnbc.com/2016/02/11/marshall-wace-leads-hedge-fund-rankings-for-2015.html|accessdate=9 February 2018|work=CNBC|date=11 February 2016}}</ref>
According to The ''Sunday Times Rich List'' in 2020, Wace is worth £630 million.<ref name=":0">{{Cite news|url=https://www.thetimes.com/uk/article/sunday-times-rich-list-2019-profiles-201-249-lw0l7kqww|title=Rich List 2019: profiles 201-249= |newspaper=The Times |date=12 May 2019|access-date=23 September 2019|language=en|issn=0140-0460}}</ref>
==Political activity== Wace donated £300,000 to the Conservative Party in the 2019 United Kingdom general election.<ref>{{cite web |title=View donation |url=http://search.electoralcommission.org.uk/English/Donations/C0478989 |publisher=The Electoral Commission |accessdate=5 May 2020}}</ref>
==Personal life== In September 1994, Wace watched his family killed in a road crash in Hampshire. His first wife Joanne, 34, and their two children, four-year-old son Guy and 11-month daughter Alicia were killed.<ref name="tragedy">{{cite news|title=From tragedy to helping others: one man's philanthropic journey|url=https://www.standard.co.uk/business/markets/from-tragedy-to-helping-others-one-mans-philanthropic-journey-6409231.html|accessdate=9 February 2018|date=2012-04-10 |work=The Standard}}</ref><ref>{{cite news |date=1994-09-05 |title=Family destroyed |url=https://www.independent.co.uk/news/uk/family-destroyed-1447002.html |work=The Independent}}</ref><ref>{{cite news |date=1994-09-05 | url=https://www.heraldscotland.com/news/12686180.man-sees-wife-and-children-killed-in-car-crash/ | title=Man sees wife and children killed in car crash |work=The Herald}}</ref><ref>{{cite news |last=Kerr |first=Jane |date=1996-09-13 |url=https://www.thefreelibrary.com/Tragic+financier+Ian+Wace+weds+again%3B+He+saw+his+family+die+in...-a061338261 |title=Tragic financier Ian Wace weds again; He saw his family die in accident |work=The Mirror |via=Free Online Library }}</ref> He married Fiona Hardy two years later and had two children Claudia and Luke; they split in 2010.<ref>{{cite web |date=2011-08-24 | url=https://funeral-notices.co.uk/notice/wace/2682778 | title=Obituary Notice for Wace |publisher=Western Morning News |website=Funeral Notices}}</ref><ref name="kerr">{{cite news|last1=Kerr|first1=Jane|title=Tragic Financier Ian Wace Weds Again; He Saw His Family Die in Accident|url=https://www.highbeam.com/doc/1G1-61338261.html|archive-url=https://web.archive.org/web/20180210002515/https://www.highbeam.com/doc/1G1-61338261.html|url-status = dead|archive-date=10 February 2018|accessdate=9 February 2018|work=The Mirror|date=13 September 1996}}</ref> In 2012, he married the model Saffron Aldridge.<ref name="eden">{{cite news|last1=Eden|first1=Richard|title=Model Saffron Aldridge to marry leading financier Ian Wace|url=https://www.telegraph.co.uk/news/celebritynews/8901355/Model-Saffron-Aldridge-to-marry-leading-financier-Ian-Wace.html|accessdate=9 February 2018|work=The Telegraph|date=20 November 2011}}</ref><ref>{{cite web |last1=Bellini |first1=Luciana |title=Meet the Aldridge family |url=https://www.tatler.com/gallery/gallery-meet-the-aldridges |website=Tatler |accessdate=4 May 2020 |date=10 October 2013}}</ref>
In June 2017, he purchased Tanera Mòr, the largest of the Summer Isles off the northwest highlands of Scotland, for £1.7 million, far less than the £2.5 million asking price when it was put on the market in 2013. Wace will oversee a four-year development to Tanera Mòr, which could become an "idyllic retreat capable of hosting up to 60 paying guests".<ref name="scot">{{cite news|last1=McCall| first1=Chris|title = Ambitious plans for remote Highland island of Tanera Mòr revealed |url= https://www.scotsman.com/lifestyle/ambitious-plans-for-remote-highland-island-of-tanera-mor-revealed-1-4686175 |accessdate=9 February 2018|work=The Scotsman|date=8 February 2018}}</ref><ref name=":0" />
In 2001, he joined with his partner Paul Marshall and Arpad Busson, another hedge fund manager, to try to address the plight of Romanian orphans in 2001.<ref name="tragedy"/> They founded Absolute Return for Kids (ARK), a children's non-profit.<ref name="ark">{{cite news|author1=Stephanie Baker|author2=Tom Cahill|title=Amid Market Turmoil, Hedge Fund Charity Donors Demand Results|url=http://www.sddt.com/News/article.cfm?SourceCode=20090112fav#.Wn0_pJM-fOQ|accessdate=9 February 2018|work=Bloomberg News|date=12 January 2009|archive-date=10 February 2018|archive-url=https://web.archive.org/web/20180210002129/http://www.sddt.com/News/article.cfm?SourceCode=20090112fav#.Wn0_pJM-fOQ|url-status=dead}}</ref>
==References== {{Reflist}}
==External links== * [http://www.mwam.com Marshall Wace website]
{{DEFAULTSORT:Wace, Ian}} Category:Living people Category:Businesspeople from London Category:British investors Category:British philanthropists Category:1963 births Category:British hedge fund managers Category:British company founders Category:Conservative Party (UK) donors