Michael Wade (Trafalgar Park)

Michael John Wade, born May 22, 1954 is a British executive and politician. He currently serves as the Chairman of the Conservative Friends of Pakistan after serving as the treasurer for a number of years. He has a particular interest in South Asian affairs as he is of Parsi Zoroastrian descent.

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 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 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 an September 2008 trade sale.

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 in 1986 as Horace Clarkson plc.

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.

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.

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. Wade was also a member of the pre-2010 Election Conservative Party initiative called the Economic Competitiveness Policy Group.

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