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.
Andrew Law | |
|---|---|
| Born | Andrew Eric Law 14 June 1966 Cheadle Hulme, Stockport, England |
| Education | Cheadle Hulme High School Sheffield University |
| Occupation | Financier |
| Employer | Caxton Associates |
| Political party | Conservative |
Early life
editAndrew 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
editHe 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
editHe 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
editBetween 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
editHe chairs the Law Family Charitable Foundation.[12] It supports many non-profit organisations, including the Policy Exchange, a think tank based in Westminster.[4] In 2014, it donated £1 million to The Lowry in Salford, where the spaces inside the Main Gallery were renamed The Andrew and Zoë Law Galleries.[13][14] 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.[15]
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.[16]
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.[17] 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.[18]
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.[19]
In an op-ed published in The Huffington Post in 2014, he called for hedge fund managers to be more philanthropic.[20]
Personal life
editHe was married to Zoë Law (née Purvis),[21][4] a former make-up artist whose clients included Sienna Miller, and Emilia Fox and Tamara Mellon. [21] They divorced in 2024.[22]
She is now a photographer whose portfolio includes the exhibition LIFE,[23] with portraits of 21 people who have cancer. The exhibition, which was displayed at The Lowry in Salford Quays in 2019,[24] was set up to raise awareness of the cancer support provided by the Maggie's Centres.
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]
References
edit- ^ 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.
- ^ a b c d e f g h Andrew Cave, Outspoken hedge fund boss who made the journey from city to city, The Daily Telegraph, 26 May 2013
- ^ "Andrew Law – Speakers for Schools". www.speakers4schools.org. Retrieved 29 January 2018.
- ^ a b c d e f g h i j "Law Family Charitable Foundation - Andrew & Zoë Law". www.lawfamilycharitablefoundation.org. Retrieved 29 January 2018.
- ^ a b c d e Andrew E. Law, CNBC
- ^ a b Sam Jones, Quiet Caxton chief refuses to shout about $1bn gain, Financial Times, 20 October 2013
- ^ a b Times, The Sunday (12 May 2019). "Rich List 2019: profiles 251-298=". The Times. ISSN 0140-0460. Retrieved 20 September 2019.
- ^ 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
- ^ Cahill, Helen (18 May 2017). "Party donors: Here are the big names bank-rolling the Conservative campaign". cityam.com. Retrieved 28 January 2018.
- ^ McCall, Nick Rodrigues and Alastair. "Top 50 political donors who bankrolled the UK election 2019". The Times. ISSN 0140-0460. Retrieved 28 May 2020.
- ^ "Home | Law Family Charitable Foundation". LFCF. Retrieved 20 October 2024.
- ^ Shelina Begum, Businessman Andrew Law and wife Zoë donate £1m to The Lowry, Manchester Evening News, 2 July 2014
- ^ The Lowry announces largest ever private donation and achieves £5m capital funding target, The Lowry, 1 July 2014
- ^ "Manchester Evening News". 24 November 2022. Retrieved 30 November 2022.
- ^ "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.
- ^ "Multi-million-pound donation gifted to Science and Industry Museum's iconic Power Hall". About Manchester. 2 June 2022. Retrieved 30 November 2022.
- ^ "Major £2.9m gift secured for Factory International, Manchester". Manchester.gov.uk. 29 September 2022. Retrieved 30 November 2022.
- ^ "Patrons of Nyumbani UK". nyumbani.org.uk. Retrieved 29 January 2018.
- ^ Andrew Law, The Hedge Fund Formula For Philanthropy, The Huffington Post, 23 January 2014
- ^ a b Boffey, Daniel (7 February 2015). "The super-rich helping to plan a glamorous Tory fundraiser". The Observer. Retrieved 2 October 2022.
- ^ "Home | Law Family Charitable Foundation". LFCF. Retrieved 20 October 2024.
- ^ "Zoe Law: LIFE". The List. Retrieved 23 August 2019.
- ^ "Photo Gallery: LIFE by Zoë Law, The Lowry, Salford". Northern Soul. 15 April 2019. Retrieved 23 August 2019.
- ^ "The Sunday Times Rich List 2024". www.thetimes.com. Retrieved 20 October 2024.