Joseph Paice was a Governor of Guy's Hospital from 1768–1811. His grandfather, also called Joseph Paice (c.1658–1735) was a Governor before him. He is shown half length wearing a blue, velvet coat, white, frill cravat and powered wig. His arm is over the back of a chair.

Paice was a merchant. He is listed in the Legacies of British Slavery as 'trustee of Thomas Lucas of Lee and legatee of Thomas Lucas Wheeler. He assigned a half-share of the St Kitts' property he inherited from the latter to John Beach.' The St Kitts' property was a plantation with enslaved Africans in St Kitts. Thomas Lucas of Lee was a sugar-factor and slave owner, he left the plantation in trust and Joseph Paice was a trustee. On Thomas Lucas Wheeler's death in 1792 he inherited the property in St Kitts and assigned half-share to his friend John Beach by 1796.