Michael Wade (Trafalgar Park)
Michael John Wade, born 22 May 1954, is a British executive and politician. He has a particular interest in South Asian affairs as he is of Parsi Zoroastrian descent.[1]
Wade has experience in listed PLCs, most notably at Lloyd's of London. Throughout his career Wade has worked within the Lloyd's insurance market where he has been Chairman or CEO of many firms as well as creating a number of programmes through various types of pro-bono work. Michael Wade was appointed the Crown Representative for Insurance at the Cabinet office in 2013 before becoming a senior advisor to the Cabinet Office in 2015. In 2018 he was awarded an OBE for Services to Government and the Economy. Currently he is a senior advisor to Swiss Re, Senior Non-executive Director of Neon Underwriting Ltd and Chairman of TigerRisk Capital Markets. In 2011 Wade was appointed chairman of Besso Insurance Group in order to restructure it and set on a new financial course which he completed by November 2012 and sold out.
Before his position with Besso, Wade was the Chairman of Optex Group Ltd from 2006[2] before it was acquired by Besso Limited in 2011. Wade also spent several years at the non-executive Chairman Lloyd's broker Bowood Holdings before a September2008 trade sale.[3]
Wade partnered with John Holman & Sons in 1980 to form Holman Wade Ltd specialising in reinsurance. This firm was merged into Horace Clarkson in 1984 and then floated on the London Stock Exchange in 1986 as Horace Clarkson plc.[4]
He resigned from Clarksons with Sir Peter Parker in 1993 to work on forming the CLM Insurance Fund plc which was one of the first ‘corporate capital’ vehicles at Lloyd's which Wade had pioneered during the Lloyd's crisis leading up to 1992.[2]
During his time with CLM, Wade was Chief Executive Officer before merging the group with a rival firm in 1999. In 2000 he stepped down and focused on the Rostrum Group Ltd. Wade worked with Lord Hodgson in creating the investment management firm Rostrum Partnerships which invested in specialist Lloyd's underwriting companies on behalf of major UK pension funds on a five-year contract to 2005.[2]
Over the course of his career, Wade also served in several committees including the Council of Lloyd's – then the regulator of the market – and the Committee of Lloyd's. Also, the Parliamentary Liaison Committee and the Lloyd's Taskforce chaired by Sir David Rowland.[5] Wade was also a member of the pre-2010 Election Conservative Party initiative called the Economic Competitiveness Policy Group.[6]
During Wade's working years, he also focused much interest on his pro-bono work. One of his most notable ventures from early on was the creation of the Lloyd's Community Programme.[7] Wade chaired the programme for five years before stepping down and it has been running successfully for 25 years.[7]
In addition, Wade founded Opera Interludes in 1989 which became London Festival Opera[8] of which he is honorary Chairman.[9] Wade founded the Trafalgar Park Trust in 1996[8] of which he is honorary Chairman.[9] This trust was founded based on Wade's interest in Trafalgar Park, acquired by Wade in 1995 and now a venue for the arts and cultural events.[10] Wade is still deeply involved in Trafalgar Park supporting many local charity events like Horatio's Garden and the plan to complete its restoration. He is a Trustee of Salisbury Cathedral Girl Chorister's Fund.
In 1997 Wade married Dr Caroline Dashwood, the daughter of Sir Francis Dashwood Bt at the family home of West Wycombe Park in Buckinghamshire, England. They have a son, Alexander Francis Neville Wade, born in 1998.[11][12]
Wade has written a number of newspaper articles comparing the Lloyd's reinsurance ‘spiral’ crisis of the 1980s to that of the financial markets crisis of 2007 – these were published by the Financial Times[13] and also the Daily Telegraph during 2008.[14]
In May 2012 Michael Wade became Chairman of the Conservative Friends of Pakistan and has written and delivered speeches on the need to help integrate the British Pakistani community in the UK.[15] He stepped down as chairman after the May 2015 General Election.
Michael Wade conducted the Saint-Saens Symphony No. 3 in C minor, Op. 78, popularly known as the Organ Symphony, at St John's Smith Square in May 2014 in support of his Appeal for Moorfields Eye Hospital and the LCA4 research work to develop an effective treatment for LCA4 – a rare, but particularly severe, form of congenital blindness, that affects children who have not inherited the required complement of genes required for normal sight.[16][17]
References[edit]
- ↑ "Nick Viner: An introduction to Conservative Friends of Pakistan | Conservative Home". Conservative Home. Retrieved 2017-05-27.
- ↑ 2.0 2.1 2.2 Michael, Wade. "Optex Group - Michael Wade". Optex Group.
- ↑ Wade, Michael. "Michael has over 30 years' experience at Lloyd's". Insurance Day Summit.
- ↑ Wade, Michael. "- Chairman". Besso Insurance.
- ↑ Felsted, Andrea. "Lloyd's recovers from Lutine bell's reverb". Financial Times.
- ↑ Wade, Michael. "Lloyd's of London's collapse". Telegraph.
- ↑ 7.0 7.1 Lake, Howard. "Lloyd's Community Programme celebrates its 20th year". FundRaising.co.uk.
- ↑ 8.0 8.1 Wade, Michael. "Michael J Wade, Esq's Biography". Debretts.
- ↑ 9.0 9.1 "London Festival Opera". TrafalgarPark.com. Archived from the original on 2008-06-28. Unknown parameter
|url-status=ignored (help) - ↑ "Arts and Cultural Events". TrafalgarPark.com. Archived from the original on 2008-06-28. Unknown parameter
|url-status=ignored (help) - ↑ http://thepeerage.com/p34495.htm#i344947
- ↑ "South West Events". CLA.
- ↑ Wade, Michael. "Lloyd's and the parallels with the banking crisis". Financial Times.
- ↑ Wade, Michael. "Lloyd's of London's collapse has lessons for today's crisis".
- ↑ "Conservative Friends of Pakistan". CFoP.
- ↑ "An ambition to give sight to blind children - Moorfields Eye Hospital". www.moorfields.nhs.uk. Retrieved 2017-02-08.
- ↑ "Michael Wade conducts Saint-Saens Organ Symphony". www.youtube.com. Retrieved 2017-02-08.
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