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Ian Wace to Replace Stanley Fink as Chairman of ARK Charity

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Oct. 1 (Bloomberg) -- Ian Wace, founder of London-based hedge fund firm Marshall Wace LLP, was named chairman of Absolute Return for Kids, the charity started by fellow money manager Arpad Busson.

Wace will replace Stanley Fink, chief executive officer of International Standard Asset Management and former head of London-based Man Group Plc, ARK said in an e-mailed statement today. Fink was named chairman in July 2009.

“Stanley has been an outstanding chairman, and I’m glad he will continue as a highly regarded trustee,” Wace said. “I understand why the huge demands on his time have necessitated this standing down.”

ARK aims to improve the lives of children across the world. It has set up programs including medical treatment for HIV/AIDS sufferers in sub-Saharan Africa, helping orphans in Romania, and offering education and training to U.K. kids.

To contact the reporter on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net