Andrew Law (financier)

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Andrew Law
Born
Andrew Eric Law

(1966-06-14) 14 June 1966 (age 58)
Cheadle Hulme, Stockport, England
Education Cheadle Hulme High School
Sheffield University
OccupationFinancier
Employer Caxton Associates
Political party Conservative

Andrew Eric Law (born 14 June 1966) is a British financier, hedge fund manager and philanthropist. He is the chairman, chief executive officer (CEO), and major shareholder of Caxton Associates, a hedge fund headquartered on Berkeley Square in London. He is a major donor to the Conservative Party.

Contents

Early life

Andrew Eric Law was born on 14 June 1966, [1] and raised in Cheadle Hulme near Stockport, England. [2] [3] His father was a mechanical engineer and his mother was a nurse. [2] He was educated at Cheadle Hulme High School. [2] He graduated from the University of Sheffield in Sheffield, South Yorkshire, with a First Class honours degree in Economics in 1987. [4] [5] [6]

Career

He started his career in finance at County NatWest, now known as NatWest. [2] [4] He then worked as a trader at the Chemical Bank. [2] [4] [6] In 1996, he joined Goldman Sachs, later becoming a managing director, where he oversaw FICC. [4] [6]

Caxton Associates

He started working at Caxton Associates in London in 2003. [4] [6] In 2008, he became its chief investment officer. [4] [5] [7] Since 2012, he has been its chairman and chief executive officer. [5] [6] [7] Law is the company's main shareholder. [8]

In 2017, Caxton Associates made £7.3 million profit, down from £95.8 million in 2016. [8]

Political affiliations

Between May 2010 and January 2015, he donated £947,911 to the Conservative Party, making him its 11th biggest donor in this period. [9] In May 2017, he gave £250,000 to the Conservative Party. [10]

During the 2019 United Kingdom general election campaign Law donated £413,750 to the Conservative Party. [11]

Philanthropy

He chairs the Law Family Charitable Foundation. [12]

The Foundation supports the Law Family Educational Trust that sponsors the Laurus Trust, a Multi Academy Trust (MAT), headquartered in Cheadle Hulme, near Manchester. The MAT encompasses 14 schools in the 4-18 age range in primary, secondary and sixth-form contexts across Greater Manchester. [13] In 2024 an Academic Football Program was announced with Manchester City Football Club. [14]

Law is the chairman of the board of trustees of Speakers for Schools, which invites public speakers to state schools in the UK. [4] He spoke at the Trinity C.E. High School in Manchester. [2]

Between 2020 and 2023, the Foundation provided financial support to the Law Family Commission on Civil Society, a programme of research into how Britain could enhance the potential of civil society, chaired by Lord Gus O'Donnell. [15]

In 2022, the Foundation provided the £8.1 million funding for the Lowry to purchase L.S.Lowry's Going to the Match, the 1953 painting of people on their way to watch a Bolton Wanderers match at the former Burnden Park stadium. [16] In 2014, it donated £1 million to The Lowry in Salford, where the spaces inside the Main Gallery are named The Law Family Galleries. [17]

In 2021 the Law Family Charitable Foundation donated £5.85m to the University of Sheffield to launch a new student support programme and search for new therapies for a range of incurable and debilitating diseases. [18]

In 2022, the Foundation donated £3million to the Science and Industry Museum in Manchester to fund the future of its Power Hall gallery, which will reopen in 2024. [19] In the same year, the Foundation donated £2.9million to Factory International, a destination for arts, music and culture, commissioning and present a year-round programme of interdisciplinary work by leading artists, due to open in 2023. [20]

The Foundation is a Global Alliance Founding Partner of Earthshot. [21]

It supports many non-profit organisations, including the Policy Exchange, a think tank based in Westminster. [4] Law was also on the board of trustees of Social Finance. [4]

In an op-ed published in The Huffington Post in 2014, he called for hedge fund managers to be more philanthropic. [22]

Personal life

He was married to Zoë Law (née Purvis). [23] [4] They divorced in 2024. [24]

According to The Sunday Times Rich List in 2024, Law is worth £950 million. [25]

He is a supporter of the football team, Manchester City F.C. [2] He owns "Manchester City vs Sheffield United", a 1938 painting by L. S. Lowry. [2]

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References

  1. ↑ Shah, Oliver (16 May 2021). "Interview: Andrew Law, the Caxton hedge fund tycoon who's betting big on the return of the state". The Sunday Times. Retrieved 29 July 2024.
  2. 1 2 3 4 5 6 7 8 Andrew Cave, Outspoken hedge fund boss who made the journey from city to city, The Daily Telegraph, 26 May 2013
  3. ↑ "Andrew Law – Speakers for Schools". www.speakers4schools.org. Retrieved 29 January 2018.
  4. 1 2 3 4 5 6 7 8 9 10 "Law Family Charitable Foundation - Andrew & Zoë Law". www.lawfamilycharitablefoundation.org. Retrieved 29 January 2018.
  5. 1 2 3 "Social Finance: Board". socialfinance.org.uk. Archived from the original on 21 October 2017. Retrieved 29 January 2018.
  6. 1 2 3 4 5 Andrew E. Law, CNBC
  7. 1 2 Sam Jones, Quiet Caxton chief refuses to shout about $1bn gain, Financial Times, 20 October 2013
  8. 1 2 Times, The Sunday (12 May 2019). "Rich List 2019: profiles 251-298=". The Times . ISSN   0140-0460 . Retrieved 20 September 2019.
  9. ↑ Elizabeth Rigby, Gavin Jackson, George Parker, 'Tories double number of big City donors in five years: Miliband attacks 'party of Mayfair hedge funds and Monaco tax avoiders',' Financial Times, 5 February 2015, p. 1, http://www.ft.com/cms/s/0/11306cd0-ac94-11e4-beeb-00144feab7de.html#axzz3wTjPW2T4
  10. ↑ Cahill, Helen (18 May 2017). "Party donors: Here are the big names bank-rolling the Conservative campaign". cityam.com. Retrieved 28 January 2018.
  11. ↑ McCall, Nick Rodrigues and Alastair. "Top 50 political donors who bankrolled the UK election 2019". The Times . ISSN   0140-0460 . Retrieved 28 May 2020.
  12. ↑ "Home | Law Family Charitable Foundation". LFCF. Retrieved 20 October 2024.
  13. ↑ "HOME | Law Family Educational Trust". LFET. Retrieved 7 December 2024.
  14. ↑ Editorial, Man City. "City and Laurus Ryecroft Sixth Form launch new Football School programme". Manchester City FC. Retrieved 7 December 2024.
  15. ↑ "Law Family Commission on Civil Society | Home". Commission on Civil Society. 26 January 2023. Retrieved 7 December 2024.
  16. ↑ "Manchester Evening News". 24 November 2022. Retrieved 30 November 2022.
  17. ↑ "What's On | LS Lowry Collection". thelowry.com. Retrieved 7 December 2024.
  18. ↑ "University of Sheffield receives record donation to support disadvantaged students and pioneering medical research | News | The University of Sheffield". www.sheffield.ac.uk. 3 February 2021. Retrieved 3 February 2021.
  19. ↑ "Multi-million-pound donation gifted to Science and Industry Museum's iconic Power Hall". About Manchester. 2 June 2022. Retrieved 30 November 2022.
  20. ↑ "Major £2.9m gift secured for Factory International, Manchester". Manchester.gov.uk. 29 September 2022. Retrieved 30 November 2022.
  21. ↑ "Global Alliance". The Earthshot Prize. Retrieved 7 December 2024.
  22. ↑ Andrew Law, The Hedge Fund Formula For Philanthropy, The Huffington Post, 23 January 2014
  23. ↑ Boffey, Daniel (7 February 2015). "The super-rich helping to plan a glamorous Tory fundraiser". The Observer. Retrieved 2 October 2022.
  24. ↑ "Home | Law Family Charitable Foundation". LFCF. Retrieved 20 October 2024.
  25. ↑ "The Sunday Times Rich List 2024". www.thetimes.com. Retrieved 20 October 2024.
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