TRIBUTE
Lord Jim Wallace
(1954–2026)
A trusted leader defined by integrity and collaboration
TRIBUTE
Lord Jim Wallace
(1954–2026)
A trusted leader defined by integrity and collaboration
ICAS was deeply saddened by the passing last month of Lord “Jim” Wallace, a widely respected public servant whose influence stretched across Scottish and UK governance, legal reform and professional regulation.
During his time as Chair of the ICAS Regulation Board and as Public Interest Member on the Council (2018–2021), Jim brought clear, steady leadership in a period of significant regulatory change. He provided practical counsel on reforms relating to audit, insolvency and anti-money laundering. His oversight helped guide ICAS through complex and developing issues.
His guidance and leadership were especially important during the first year of the Covid-19 pandemic. At a time of real uncertainty, Jim offered valuable and reassuring support to everyone at ICAS, helping us maintain our regulatory functions during challenging circumstances.
He was always generous with his time and took his responsibilities incredibly seriously. He will be remembered for the important role he played in supporting ICAS through some difficult periods.
A life of service
A lawyer by training, Jim studied at Downing College, Cambridge, and the University of Edinburgh, later becoming a QC in 1997. His legal grounding informed a political career marked by constitutional expertise, sound judgement and a thoughtful, principled approach to governance.
Addressing a special service for members of Scotland’s Ukrainian community following Russia’s 2022 invasion
Addressing a special service for members of Scotland’s Ukrainian community following Russia’s 2022 invasion
Lord Jim and Lady Wallace with the Duke of Cambridge and Nicola Sturgeon on being made Moderator of the Church of Scotland
Lord Jim and Lady Wallace with the Duke of Cambridge and Nicola Sturgeon on being made Moderator of the Church of Scotland
At the Liberal Democrats 2005 Conference
At the Liberal Democrats 2005 Conference
Addressing a special service for members of Scotland’s Ukrainian community following Russia’s 2022 invasion
Addressing a special service for members of Scotland’s Ukrainian community following Russia’s 2022 invasion
Lord Jim and Lady Wallace with the Duke of Cambridge and Nicola Sturgeon on being made Moderator of the Church of Scotland
Lord Jim and Lady Wallace with the Duke of Cambridge and Nicola Sturgeon on being made Moderator of the Church of Scotland
At the Liberal Democrats 2005 Conference
At the Liberal Democrats 2005 Conference
He entered Parliament in 1983 as MP for Orkney and Shetland, quickly earning a reputation for diligence and reliability. As Liberal Chief Whip, he played a key role in navigating the party through negotiations leading to the merger with the SDP – early proof of his quiet but highly effective consensus‑building abilities.
With the arrival of devolution, he became Scotland’s first Deputy First Minister, serving from 1999 to 2005. He twice stepped in as Acting First Minister, guiding the new Parliament through pivotal, unpredictable moments following the death of Donald Dewar in 2000 and the resignation of Henry McLeish in 2001. His work with the Labour and Liberal Democrat coalition helped deliver major policy and legislation, including land reform, the abolition of Scottish tuition fees and the establishment of freedom of information legislation – reforms achieved through calm negotiation rather than political confrontation.
“His legacy – shaped by clarity and compassion – stands as a reminder that leadership grounded in humility and respect endures far beyond the moment”
After retiring from Holyrood, Jim was appointed a life peer in 2007 and later served as Advocate General for Scotland (2010–2015), advising the UK coalition government during a period of intense constitutional debate. His legal precision and instinct for fairness made him a trusted voice in the House of Lords and later Leader of the Liberal Democrats in the upper chamber (2013–2016).
Across political boundaries, the many tributes all emphasise how genuinely liked and respected Jim was. He was still incredibly active, still travelling regularly to London, singing in his local choir and deeply involved with his grandchildren. Political leaders have hailed him as “good and principled”, “a towering figure” and “one of the architects of modern Scotland”, citing his generosity of spirit and his collaborative, measured approach as a model for public life.
Beyond politics, Jim’s commitment to service continued in his role as Moderator of the General Assembly of the Church of Scotland (2021–2022), reflecting values of modesty, community and faith.
ICAS remembers him not only for his contributions to regulation and governance, but for the warmth, steadiness and integrity he brought to every role he held. His legacy – shaped by clarity and compassion – stands as a reminder that leadership grounded in humility and respect endures far beyond the moment. He is survived by his wife, Rosemary, and daughters, Helen and Clare, to whom we extend our deepest condolences.
He entered Parliament in 1983 as MP for Orkney and Shetland, quickly earning a reputation for diligence and reliability. As Liberal Chief Whip, he played a key role in navigating the party through negotiations leading to the merger with the SDP – early proof of his quiet but highly effective consensus‑building abilities.
With the arrival of devolution, he became Scotland’s first Deputy First Minister, serving from 1999 to 2005. He twice stepped in as Acting First Minister, guiding the new Parliament through pivotal, unpredictable moments following the death of Donald Dewar in 2000 and the resignation of Henry McLeish in 2001. His work with the Labour and Liberal Democrat coalition helped deliver major policy and legislation, including land reform, the abolition of Scottish tuition fees and the establishment of freedom of information legislation – reforms achieved through calm negotiation rather than political confrontation.
“His legacy – shaped by clarity and compassion – stands as a reminder that leadership grounded in humility and respect endures far beyond the moment”
After retiring from Holyrood, Jim was appointed a life peer in 2007 and later served as Advocate General for Scotland (2010–2015), advising the UK coalition government during a period of intense constitutional debate. His legal precision and instinct for fairness made him a trusted voice in the House of Lords and later Leader of the Liberal Democrats in the upper chamber (2013–2016).
Across political boundaries, the many tributes all emphasise how genuinely liked and respected Jim was. He was still incredibly active, still travelling regularly to London, singing in his local choir and deeply involved with his grandchildren. Political leaders have hailed him as “good and principled”, “a towering figure” and “one of the architects of modern Scotland”, citing his generosity of spirit and his collaborative, measured approach as a model for public life.
Beyond politics, Jim’s commitment to service continued in his role as Moderator of the General Assembly of the Church of Scotland (2021–2022), reflecting values of modesty, community and faith.
ICAS remembers him not only for his contributions to regulation and governance, but for the warmth, steadiness and integrity he brought to every role he held. His legacy – shaped by clarity and compassion – stands as a reminder that leadership grounded in humility and respect endures far beyond the moment. He is survived by his wife, Rosemary, and daughters, Helen and Clare, to whom we extend our deepest condolences.
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