Wace in 2011 speaking at the launch of the GAVI Alliance
|Born||January 1963 (age 57)|
|Known for||Co-founder of Marshall Wace Asset Management|
|Net worth||GB£590 million (Sunday Times Rich List, 2019)|
|Spouse(s)||Saffron Aldridge (m. 2012)|
|Relatives||Charles Wace (brother)|
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. 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.
Ian Gerald Patrick Wace was born in January 1963. His brother Charles Wace is CEO of global television production company Twofour Group. 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".
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.
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. 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.
In September 1994, Wace's first wife and their two small children were killed in a car accident in Hampshire, when he was 31 years old (they had been driving in separate cars). He married Fiona Hardy two years later and had two children with her; they split in 2010.
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".
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. They founded Absolute Return for Kids (ARK), a children's non-profit.
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