Sir

Paul Marshall
Born
Paul Roderick Clucas Marshall

(1959-08-02) 2 August 1959
Ealing, London, England
EducationMerchant Taylors' School, Northwood
Alma materSt John's College, Oxford
INSEAD
Occupation(s)Investor, philanthropist
Known forCo-founder of Marshall Wace Asset Management
SpouseSabina Marshall
Children2, including Winston
RelativesPenny Marshall (sister)

Sir Paul Roderick Clucas Marshall (born 2 August 1959) is a British investor.

According to the Sunday Times Rich List in 2020, Marshall is worth £630 million.[1]

Early life

Paul Roderick Clucas Marshall was born on 2 August 1959 in Ealing, London, England, the son of Alan Marshall, managing director, Philippine Refining Company (later Unilever Philippines), and Mary Sylvia Clucas, daughter of T. S. Hanlin.[2][3][4] His sister is the journalist Penny Marshall.[5]

When his parents moved to the Philippines and then South Africa for his father's job with Unilever, Marshall boarded at Merchant Taylors' School, in England. He boarded in the Manor of the Rose while at the school.[6]

From there he went to St John's College, Oxford, to read History and Modern Languages, and subsequently took an MBA from INSEAD business school in Fontainebleau, France.[7]

Career

He is the co-founder and chairman of Marshall Wace LLP, one of Europe's largest hedge fund groups.[8] Marshall Wace[9] was founded in 1997 by Marshall and Ian Wace.[10] At the time, Marshall Wace was one of the first hedge funds in London.[6] The company started with $50 million, half of which was from George Soros.[6]

Funds managed by Marshall Wace have won multiple investment awards[11] and the company has become one of the world's leading managers of equity long/short strategies. Marshall Wace manages $50 billion and has recently opened an office in China.[12] Prior to founding Marshall Wace, Marshall worked for Mercury Asset Management, the fund management arm of S. G. Warburg & Co.

He is a member of the Hedge Fund Standards Board.

Political affiliations

Marshall had a longstanding involvement with Britain's Liberal Democrats party.[13] He was a research assistant to Charles Kennedy, former leader of the Liberal Democrats in 1985 and stood for Parliament for the SDP–Liberal Alliance in Fulham in 1987. He has made appearances on current affairs programmes such as BBC Radio 4's Any Questions.[14][15]

In 2004, Marshall co-edited The Orange Book with David Laws. Chapters were written by various upcoming Liberal Democrat politicians including Nick Clegg, Chris Huhne, Vince Cable, Ed Davey and Susan Kramer (neither Clegg, Huhne nor Kramer were MPs at the time). Laws, describing the pair's ambition in publishing The Orange Book, wrote "We were proud of the liberal philosophical heritage of our party. But we both felt that this philosophical grounding was in danger of being neglected in favour of no more than 'a philosophy of good intentions, bobbing about unanchored in the muddled middle of British politics'"[16] The book attracted initial controversy when launched,[17][18] but both it and the term Orange Bookers to describe those sympathetic to its outlook continue to be frequently referenced to describe a strand of thought within the Liberal Democrats.[19][20]

Between 2002 and 2015, Marshall donated £200,000 to the Liberal Democrats.[6] He left the party in 2015 over its policies on the European Union and its support of continuing British membership.[6]

In July 2016, Marshall donated £3,250 to Michael Gove's Conservative Party leadership campaign.[21]

In 2017, Marshall gave funding to the political news website UnHerd.[6]

In 2019, Marshall gave £500,000 to the Conservative Party.[22]

In 2020/2021 Marshall invested, in a personal capacity, £10 million into the political news and opinion channel GB News.[23][24] Marshall temporarily replaced Andrew Neil as chairman of the channel following Neil's resignation in September 2021.[25][26] On 25 April 2022 Marshall was succeeded by Alan McCormick.[27] Marshall's ownership of UnHeard and GB News, as well as potential purchases of the Daily Telegraph and The Spectator led the New Statesman to name him as the seventeenth most powerful right-wing political figure in the UK in 2023.[28]

Working with Jordan Peterson and Baroness Stroud, Marshall helped create Alliance for Responsible Citizenship, giving a keynote address at its first conference in October-November 2023.[29]

2016 EU referendum campaign

Marshall was a public supporter of Brexit during the European Union membership referendum in 2016.[30] He gave a donation of £100,000 to the Leave campaign.[6]

Writing for BrexitCentral in April 2017 on the UK exiting the European Union, Marshall wrote: "This is a huge opportunity for the UK. Our ambition is that the UK should be a champion of free trade, open and outward looking to the world and built on strong institutions."[31]

In an interview with the Financial Times in 2017, Marshall said: "Most people in Britain do not want to become part of a very large country called Europe. They want to be part of a country called Britain."[6]

Philanthropy

Marshall was the founder, and chairs the board of trustees of the independent research institute the Education Policy Institute (EPI). For over a decade he was also chairman of the EPI's previous incarnation, think tank CentreForum.[32]

He is a founder trustee of ARK and chairman of ARK Schools, which is one of Britain’s leading providers of academies and has also played a pioneering role in developing new programmes for inner city education.[33] Other initiatives spun out of ARK include Future Leaders, Teaching Leaders, Maths Mastery, English Mastery, Science Mastery, Frontline and Now Teach. He is also a founding trustee of the charity Every Child a Chance.[34]

He was appointed lead non-executive director at the Department of Education in 2013.[35]

In April 2015, it was announced that Marshall would donate £30 million to the London School of Economics to establish The Marshall Institute for Philanthropy and Social Entrepreneurship, alongside Sir Thomas Hughes-Hallett.[36] The institute was launched in 2015, with a core aim "to improve the impact and effectiveness of private contributions to the public good".[37][38]

Marshall was knighted in the 2016 Birthday Honours for services to education and philanthropy.[39]

According to the Sunday Times Giving List in 2020, Marshall donated £106.8 million to charitable causes in 2019.[40]

Publications

Marshall has written widely about education. In 2012, he edited a book on improving the education system called The Tail: how England's schools fail one child in five – and what can be done. Contributors included Labour MP Frank Field, Professor Chris Husbands of the Institute of Education and Stephen Machin of the London School of Economics. He is also co-author of Aiming Higher: a better future for England's schools with Jennifer Moses (2006), and author of Tackling Educational Inequality (with Sumi Rabindrakumar and Lucy Wilkins, 2007).[41]

Marshall's other publications include: The Market Failures Review (Editor – 1999), Britain After Blair (co-editor with Julian Astle, David Laws, Alasdair Murray) and Football and the Big Society (with Sam Tomlin, 2011).[41]

In 2020 he published 10½ Lessons from Experience: Perspectives on Fund Management,[42] a personal reflection on lessons learned from a career in fund management. The Times described the book as "a bit of a gem"[43] and a Bloomberg review welcomed its examination of cognitive bias, the use of data and systematic strategies by successful fund managers.[44] Marshall wrote, "Machines have not won yet. Machines typically do not fare well in a crisis. They are not good at responding to a new paradigm until the rules of the new paradigm are plugged into them by a human."

Personal life

He is married to Sabina. His wife is French and owns an antique shop on the King's Road in Chelsea.[6] Marshall is father of former Mumford & Sons band member Winston Marshall and musician Giovanna Marshall.[45] He was father-in-law to the actress and dancer Dianna Agron for the duration of her marriage to Winston.[46]

In April 2017, he told the Financial Times in an interview that he had no intention of retiring.[6]

References

  1. ↑ Times, The Sunday (12 May 2019). "Rich List 2019: profiles 201-249=". The Times. ISSN 0140-0460. Retrieved 23 September 2019.
  2. ↑ Who's Who in Southern Africa, vol. 54, Ken Donaldson Ltd, 1959, p. 441
  3. ↑ Economic Review, vol. 19, Economic & Industrial Publications, 1988, p. 89
  4. ↑ "FamilySearch.org". FamilySearch.
  5. ↑ The International Who's Who of Women 2002, third edition, ed. Elizabeth Sleeman, Europa Publications, p. 364
  6. 1 2 3 4 5 6 7 8 9 10 Fortado, Lindsay (23 April 2017). "Sir Paul Marshall, co-founder Marshall Wace, backing Brexit". Financial Times. Retrieved 23 September 2019.
  7. ↑ "Every Child A Chance Trustees". 2 May 2009. Archived from the original on 2 May 2009. Retrieved 29 January 2018.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  8. ↑ Paul Marshall of Marshall Wace. Movers and Shakers, The Times. 28 December 2009. Retrieved on 8 September 2014.
  9. ↑ "Paul Roderick Clucas Marshall director information. Free company director check". www.cbetta.com. Retrieved 16 January 2020.
  10. ↑ Computer system gives fund a route to the top. Business.timesonline.co.uk. 15 October 2005. Retrieved on 28 April 2012.
  11. ↑ "HFM | Hedge fund data and intelligence". HFM | Hedge fund data and intelligence.
  12. ↑ "Rich List 2019: profiles 201-249=". The Times. 12 May 2019. ISSN 0140-0460. Retrieved 23 September 2019.
  13. ↑ Personal finance news, how to make money, how to save money. The Daily Telegraph. (31 May 2011). Retrieved on 28 April 2012.
  14. ↑ Transcript: Any Questions? 22 February 2008, Radio 4. BBC. Retrieved on 28 April 2012.
  15. ↑ Transcript: Any Questions? 10 February 2006 Archived 12 November 2012 at the Wayback Machine. Radio 4. BBC. Retrieved on 28 April 2012.
  16. ↑ Sanderson-Nash, Emma (2012). "THE ORANGE BOOK - TURNING RIGHT OR CHANGING GEARS?: iea economic afairs". Economic Affairs. 32 (2): 11–16. doi:10.1111/j.1468-0270.2012.02148.x. S2CID 154068780.
  17. ↑ "Lib Dem 'lurch to right' warning". BBC News. 21 September 2004. Retrieved 12 July 2012.
  18. ↑ "'Voters will turn to us next' says poll strategist". The Daily Telegraph. 22 September 2004. Retrieved 12 July 2012.
  19. ↑ Dunt, Ian (23 June 2010). "Clegg needs to ride the storm". Politics.co.uk.
  20. ↑ Callus, Greg (28 April 2010). "Could a minority government deal be done?". Channel 4 News.
  21. ↑ Hughes, Solomon (24 January 2018). "A Millionaire Who Funded Brexit Made a Killing as Carillion Crashed". Vice. Retrieved 23 September 2019.
  22. ↑ "Search - the Electoral Commission".
  23. ↑ Kleinman, Mark (31 December 2020). "City tycoon Marshall tunes into £60m GB News fundraising". Sky News. Retrieved 1 January 2021.
  24. ↑ Kleinman, Mark (6 January 2021). "GB News seals £60m funding ahead of 'boldly different' launch". Sky News. Retrieved 6 January 2021.
  25. ↑ Waterson, Jim (18 September 2021). "Behind the scenes of Andrew Neil's departure from GB News". The Guardian. Retrieved 26 December 2021.
  26. ↑ Butterworth, Benjamin (21 September 2021). "Andrew Neil will not appear again on GB News despite promised return as a 'regular contributor'". i. Retrieved 26 December 2021.
  27. ↑ Tobitt, Charlotte (25 April 2022). "New GB News chairman says channel should feel 'sincerely flattered' by TalkTV launch". Press Gazette. Retrieved 26 April 2022.
  28. ↑ Statesman, New (27 September 2023). "The New Statesman's right power list". New Statesman. Retrieved 14 December 2023.
  29. ↑ Earle, Samuel (28 October 2023). "Loud and uncowed: how UnHerd owner Paul Marshall became Britain's newest media mogul". The Guardian. ISSN 0261-3077. Retrieved 21 November 2023.
  30. ↑ "Hedge fund managers Crispin Odey and Paul Marshall say Brexit would help London". Reuters. 30 April 2016 – via www.reuters.com.
  31. ↑ "How Prosperity UK is grappling with the practical challenges and opportunities of Brexit". BrexitCentral. 19 April 2017. Retrieved 23 September 2019.
  32. ↑ "£1 million boost for Lib Dem think tank" – The Times, 28 June 2005
  33. ↑ Hedge fund star: My plan to turn round London schools Evening Standard. 7 March 2011. Retrieved 12 July 2012
  34. ↑ "Every Child a Chance Trust, registered charity no. 1122108". Charity Commission for England and Wales.
  35. ↑ Evening Standard 7 March 2011. Retrieved 12 September 2014
  36. ↑ "LSE announces The Marshall Institute for Philanthropy and Social Entrepreneurship". LSE. Archived from the original on 29 April 2015. Retrieved 27 April 2015.
  37. ↑ "Marshall Institute". LSE Marshall Institute. Retrieved 27 April 2015.
  38. ↑ Social entrepreneurship institute to open in London Financial Times, 25 April 2015
  39. ↑ "No. 61608". The London Gazette (Supplement). 11 June 2016. p. B2.
  40. ↑ Griffiths, Alastair McCall and Sian. "Sunday Times Giving List 2020: Stormzy breaks new ground". The Times. ISSN 0140-0460. Retrieved 9 October 2020.
  41. 1 2 Tackling educational inequality. CentreForum.org. Retrieved on 28 April 2012.
  42. ↑ Marshall, Paul (2020). 10½ Lessons from Experience: Perspectives on Fund Management (Mainition ed.). Profile Editions.
  43. ↑ Hosking, Patrick. "'Buffett isn't Sharpe enough for City job'". The Times. Retrieved 3 August 2020.
  44. ↑ Gilbert, Mark (16 July 2020). "Hedge Fund Titan Sees a Quantamental Future". Bloomberg.com. Retrieved 3 August 2020.
  45. ↑ "M meets... Giovanna - M Magazine". m-magazine.co.uk. 29 November 2011. Retrieved 29 January 2018.
  46. ↑ "Dianna Agron Marries Mumford and Sons' Winston Marshall". 16 October 2016. Archived from the original on 21 August 2020. Retrieved 11 August 2022.
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