 Prior starting the fund, Paul Marshall was Head of European Equities at Mercury Asset Management, whilst Ian Wace was Head of Equities Trading at Deutsche Bank.In 1997, Marshall and Wace launched Marshall Wace; they were managing $50 million; $25 million from George Soros and $25 million sourced via family and friends.The firm manages more than $40 billion as of 2019 and operates from fund management offices in London, New York and Hong Kong.