The Wallace Collection is a non-departmental public body of the Department for Digital, Culture, Media and Sport (DCMS), and a charity exempt from registration under the Charities Act of 2011.

The Director of the Museum is Dr Xavier Bray, who is supported by a Board of Trustees appointed by the Prime Minister.

The Trustees are an independent body who bring an invaluable depth and diversity of expertise to the governance of the Wallace Collection.

The current Trustees of the Wallace Collection are:

António Horta-Osório (Chairman), Marilyn Berk, Eric Ellul, Kate de Rothschild-Agius, Ashok Roy and Timothy Schroder.

Honorary Trustees:

Lord Hertford, Pierre Arizzoli-Clémentel, Jane Lewis