He became the managing director and eventual majority shareholder in Paterson, Laing & Bruce, one of Melbourne's leading softgoods firms.

[2] After his father's early death, Bruce was sent to Scotland to attend Madras College in St Andrews.

[1] He led the business through the depression associated with the Australian banking crisis of 1893, but lost much of his personal fortune.

He subsequently floated Paterson, Laing & Bruce as a limited liability company with himself as chairman of the board and majority shareholder.

Stanley remembered his father as aloof and stern with his children, although with a charming, genial, and urbane public persona.

[8] According to The Australasian in 1891, it was positioned "on the crown of the hill at Toorak, commanding one of the finest panoramas in the neighbourhood of Melbourne".

He had some interest in politics, supporting the government formed by Duncan Gillies and Alfred Deakin after the 1886 general election.

A police investigation concluded that he had committed suicide due to business difficulties and health problems.

[1] Bruce had been preceded in death by his second son William, who in 1899 jumped in front of a train while undergoing treatment at an asylum in Sydney.