Stanley Fink, Baron Fink Explained

Honorific Prefix:The Right Honourable
The Lord Fink
Birth Name:Stanley Fink
Office7:Member of the House of Lords
Lord Temporal
Term Start7:18 January 2011
Term End7:for life
Birth Place:Manchester, Lancashire, UK
Residence:London
Nationality:British
Known For:Financial services
Education:Manchester Grammar School,
Trinity Hall, Cambridge.
Occupation:Financier
Party:Conservative
Spouse:Barbara née Paskin
Children:Hon. Jordan Fink,
Hon. Alexander Fink,
Hon. Gabriella Fink

Stanley Fink, Baron Fink, (born 15 September 1957), is a British hedge fund manager and parliamentarian, who was formerly CEO of Man Group plc.

Created a Life Peer in 2011, Lord Fink sits on the Conservative Party benches in the House of Lords.[1]

Early life

The son of Louis Fink and Janet née Stone, he was born in 1957 at Crumpsall, Lancashire, where his father ran a grocery store.[2] Fink was educated at Manchester Grammar School before going up to read Law at Trinity Hall, Cambridge (graduating MA).[3]

Business career

Fink started his career at the accountancy firm, Arthur Andersen, qualifying as FCA before briefly working for Mars Inc, then joining Citibank.[3] He served as chief executive officer of Man Group, a hedge fund, from 2000 to 2007.[4] [5] Described as the "godfather" of the UK hedge fund industry, he is credited with building the Man Group up to its FTSE 100 public company status, the largest listed hedge fund company in the world.[6]

In September 2008, Fink came out of retirement to serve as chief executive of International Standard Asset Management (ISAM) in partnership with Lord Levy.[7] Appointed chairman of ISAM in 2015, he retired from its board in December 2018.

In 2013, Fink featured on web reality TV show HF Lions' Den, when Lord Fink interviewed three emerging hedge fund managers, and allocated $25 million in investment between the three funds.[8]

Fink served on the board of Marex until 2023 and was Chairman and the largest shareholder of Zenith Hygiene Group for 10 years, which was sold to Bain Capital in 2018.[9]

Fink is a seed investor in Ecometrica,[10] a leading environmental software business which, headquartered in Edinburgh, operates globally. An early investor in New Forests Company, among the largest sustainable forestry businesses in Africa operating in Uganda, Tanzania and Rwanda, the company has become a market leader in the provision of sustainable wood and FSC-certified transmission poles throughout East Africa.[11]

In July 2018, Fink was appointed as Global Special Advisor to eToro.[12] Later that year, the Fink family office was formed,[13] which invests predominantly in PropTech, FinTech and EdTech ventures, and includes:

Political career

In January 2009, Fink was appointed co-treasurer of the Conservative Party.[21] Created a life peer on 18 January 2011, he took the title of Baron Fink, of Northwood in the County of Middlesex; Lord and Lady Fink were regular guests of David Cameron at Chequers[22] and, after the resignation of Peter Cruddas over a cash-for-access controversy, Lord Fink returned as treasurer of the Conservative Party, to which he had previously given £2.62m:[23] he is among the top 20 biggest donors to the Conservative Party.[24]

In February 2015, Fink was erroneously accused by the Labour leader Ed Miliband of undertaking "tax evasion activities".[25] In reply, he stated simply that not only he avoided tax, but that "everyone does tax avoidance at some level".[26]

Philanthropy

Lord Fink is Chairman of Governors at Ark Burlington Danes Academy, President of Evelina Children's Hospital and serves on the Board of Trustees of the Oxford Centre for Hebrew and Jewish Studies.[27] In September 2009, he was appointed Chairman of Absolute Return for Kids.[28] In 2010, he and Cherie Blair attended a fundraiser for learning difficulties charity Norwood, of which he is a benefactor.[29]

Personal life

Interviewed by The Jewish Chronicle Fink said, "Being Jewish is part of what I am and it is an inheritance I am proud to pass on to my children" but also added, "I have accepted that, as we live in multi-cultural Britain, one of my children might not marry someone Jewish." According to the Sunday Times Rich List, Fink is worth an estimated £70 million.[30]

In 1981 Fink married Barbara Paskin,[29] by whom he has two sons, Jordan and Alex, and a daughter, Gabriella.[31]

Lord and Lady Fink live in north London as well as owning properties in France and Spain.[3]

Arms

Coronet: That of a Baron
Escutcheon:Azure a Pale between two Skis palewise Argent.
Crest:A Hedgehog Sable grasping with the dexter forefoot a Menorah of nine branches Or.
Supporters:On either side a Stag Or supporting a Golf Club head upwards Sable.
Motto:Faber est suæ quisque fortunæ (Latin)
(Eng.) Everyone is the maker of his own fortune

Notes and References

  1. https://debretts.com/peerage-and-baronetage/ www.debretts.com
  2. Candice Krieger, Interview: Stanley Fink, The Jewish Chronicle, 18 September 2009
  3. https://web.archive.org/web/20080619022052/http://www.independent.co.uk/news/business/analysis-and-features/finance-and-philanthropy-the-acceptable-face-of-capitalism-415097.html Finance and philanthropy: The acceptable face of Capitalism – Business Analysis & Features, Business
  4. http://www.ft.com/cms/s/0/4537f52e-7ecf-11dd-b1af-000077b07658.html Preservation 'a cheap option'
  5. https://archive.today/20120912091927/http://www.telegraph.co.uk/news/newstopics/politics/conservative/4271998/Stanley-Fink-the-new-Tory-Party-treasurer.html Stanley Fink: the new Tory Party treasurer
  6. http://www.cityam.com/index.php?news=14504 London City based Financial, Business and Stock Market News
  7. http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4753644.ece
  8. Web site: Hedge Fund Lions' den: Emerging managers learn their fate. 16 December 2013.
  9. https://www.thecaterer.com/articles/512963/terms-agreed-for-bain-capitals-acquisition-of-zenith-hygiene Terms agreed for Bain Capital’s acquisition of Zenith Hygiene
  10. https://ecometrica.com/solutions/measuring/ www.ecometrica.com
  11. http://newforests.net/ www.newforests.net
  12. https://www.institutionalassetmanager.co.uk/2018/07/16/266392/etoro-appoints-special-adviser Global investment platform eToro has appointed Stanley Fink as Special Advisor to the business globally.
  13. Web site: The Fink Family Foundation. 2020-06-24. The Fink Family Foundation. en.
  14. https://www.britishpearl.com/about British Pearl team
  15. https://www.uktech.news/news/investment-news/legal-tech-startup-farillio-nabs-650000-in-angel-funding-20180927 UK startup Bud raises $20 mn to advance its Open Banking capabilities
  16. https://ibsintelligence.com/ibs-journal/uk-startup-bud-raises-20-mn-to-advance-its-open-banking-capabilities/ Legal tech startup Farillio nabs £650,000 in Angel funding
  17. https://www.thetutortrust.org/news/tutor-trust-and-seneca-learning-an-exciting-new-partnership-29th-january-2019 Tutor Trust and Seneca Learning – an exciting new partnership – 29th January 2019
  18. https://www.parliament.uk/biographies/lords/lord-fink/4219/register-of-interests www.parliament.uk
  19. https://www.thetimes.co.uk/article/anyone-else-for-a-game-of-monopoly-jh9ttq0jf The Times
  20. https://www.independent.co.uk/news/people/lord-fink-how-the-godfather-of-the-hedge-fund-made-his-fortune-10042690.html Lord Fink: How the godfather of hedge funds made his fortune
  21. https://web.archive.org/web/20090122064432/http://www.telegraph.co.uk/news/newstopics/politics/conservative/4271961/New-Tory-Treasurer-Stanley-Fink-plans-to-blow-Labour-out-of-water.html New Tory Treasurer Stanley Fink plans to blow Labour out of water
  22. Web site: List of Chequers guests. Conservative Home.
  23. http://media.ft.com/cms/c3f0d088-2107-11e1-8a43-00144feabdc0.pdf FT Research: from little acorns...
  24. 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, pp. 1; 20
  25. News: Lord Fink: Miliband comments 'untrue'. BBC News.
  26. https://www.standard.co.uk/news/uk/everyone-avoids-tax-says-lord-fink-after-he-was-named-by-ed-miliband-in-commons-row-10041040.html Evening Standard article on Fink's response
  27. https://www.ochjs.ac.uk/people/board-of-governors/ www.ochjs.ac.uk
  28. 'Educashun News', Private Eye, No. 1245 (18 Sep – 1 October 2009), p. 15
  29. http://www.thejc.com/galleries/norwood/a-large-crowd-raises-%C2%A333m-norwoods-services?img=9 A large crowd raises £3.3m for Norwood's services
  30. Web site: Interview: Stanley Fink .
  31. https://www.burkespeerage.com/ www.burkespeerage.com