Lace, whose two-year stint begins in October when he takes over from Carol Reay, wants to increase the financial contributions from agencies to sustain the organisation's work.
"There's a big mismatch between those using Nabs and those who fund it," he said. "TBWA makes a £20,000 annual donation. Most of the industry spends ten times that amount each year on corporate entertainment."
Lace's appointment comes as the charity strives to ease the strain on its welfare fund caused by the recession within the industry and to clear the £300,000 deficit that it accumulated last year.
It has already extended its fundraising activity with May Day Pay Day, which raised £180,000 in its first year, and is to stage a celebrity football night at the end of October.
Lace hopes to launch his own fundraising initiative during his presidency, but said his main task would be to back up the work of Kate Harris, its director.
"Kate has a tough job, he added. "She has to deal with a lot of difficult cases and a lot of knock-backs."
Harris said: "Having the chief executive of a top-ten agency as our chairman will be a very powerful advantage for us. Although Garry hasn't been directly involved with Nabs before he cares passionately about it. Like any other brand Nabs must keep people talking about it."