Grace, William Russell (1832-1904)

Irish-born US businessman and politician. He established W R Grace & Company in New York City in 1865, conducting a vastly successful trade with Peru, where he had previously been based. From 1890 he profited from concessions received for funding Peru's national debt. By 1895 his company had expanded throughout Latin America and he had moved into mining, mills, international banking, and trading. He also founded two steamship companies. Although known as ‘the pirate of Peru’, he served two terms as mayor of New York City (1880-88).

Grace was born in Queenstown, Ireland. Prevented by his father from joining the Royal Navy, he ran away to sea and then to Peru where he and his brother, Michael Grace eventually formed Grace Brothers & Company, a trading company. His health forced him to leave Peru in 1860, and after travelling around, he settled in New York City in 1865.