Andrew Law (financier)

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Andrew Law
Born
Andrew Eric Law

June 1966 (age 56–57)
Cheadle Hulme, Stockport, England
Education Cheadle Hulme High School
Sheffield University
OccupationFinancier
Employer Caxton Associates
Political party Conservative
SpouseZoë Purvis

Andrew Eric Law (born 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 in 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 co-chairs the Law Family Charitable Foundation with his wife. [4] They support many non-profit organisations, including the Policy Exchange, a think tank based in Westminster. [4] In 2014, they donated £1 million to The Lowry in Salford, where the spaces inside the Main Gallery were renamed The Andrew and Zoë Law Galleries. [12] [13] 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. [14]

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. [15]

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. [16] 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. [17]

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] He is on the board of trustees of Social Finance. [4] Additionally, he is a patron of the Hotcourses Foundation, which helps vulnerable schoolchildren in Kenya. [18]

In an op-ed published in The Huffington Post in 2014, he called for hedge fund managers to be more philanthropic. [19]

Personal life

He is married to Zoë Law (née Purvis), [20] [4] a former make-up artist whose clients included Sienna Miller, and Emilia Fox and Tamara Mellon. [20] They have a house in west London. [21]

She is now a photographer whose portfolio includes the exhibition LIFE, [22] with portraits of 21 people who have cancer. The exhibition, which was displayed at The Lowry in Salford Quays in 2019, [23] was set up to raise awareness of the cancer support provided by the Maggie's Centres.

According to The Sunday Times Rich List in 2022, Law is worth £750 million. [24]

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. ↑ "Andrew Eric LAW - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 29 January 2018.
  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 11 "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=". 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". ISSN   0140-0460 . Retrieved 28 May 2020.
  12. ↑ Shelina Begum, Businessman Andrew Law and wife Zoë donate £1m to The Lowry, Manchester Evening News, 2 July 2014
  13. ↑ The Lowry announces largest ever private donation and achieves £5m capital funding target, The Lowry, 1 July 2014
  14. ↑ "Manchester Evening News". 24 November 2022. Retrieved 30 November 2022.
  15. ↑ "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.
  16. ↑ "Multi-million-pound donation gifted to Science and Industry Museum's iconic Power Hall". About Manchester. 2 June 2022. Retrieved 30 November 2022.
  17. ↑ "Major £2.9m gift secured for Factory International, Manchester". Manchester.gov.uk. 29 September 2022. Retrieved 30 November 2022.
  18. ↑ "Patrons of Nyumbani UK". nyumbani.org.uk. Retrieved 29 January 2018.
  19. ↑ Andrew Law, The Hedge Fund Formula For Philanthropy, The Huffington Post, 23 January 2014
  20. 1 2 Boffey, Daniel (7 February 2015). "The super-rich helping to plan a glamorous Tory fundraiser". The Observer. Retrieved 2 October 2022.
  21. ↑ Badshah, Nadeem (2 October 2022). "Kwasi Kwarteng 'attended champagne party with financiers on mini-budget day'". The Guardian. Retrieved 2 October 2022.
  22. ↑ "Zoe Law: LIFE". The List. Retrieved 23 August 2019.
  23. ↑ "Photo Gallery: LIFE by Zoë Law, The Lowry, Salford". Northern Soul. 15 April 2019. Retrieved 23 August 2019.
  24. ↑ Times, The Sunday. "Rich List 2022" . Retrieved 30 November 2022.
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