A member of the Royal Vancouver Yacht Club, Hubert Wallace was selected, alongside Ernest Cribb, Peter Gordon, George Gyles, Harry Jones, and Ronald Maitland, to represent Canada in the 8 metre class at the 1932 Summer Olympics. Despite losing all four races, the Canadians brought home a silver medal from the Games because the only other nation to enter the 8 metre tournament was the United States. Outside of yacht racing he was involved in running his father’s business, the Burrard Dry Dock, in Vancouver, alongside his brother Clarence, who served as Lieutenant Governor of British Columbia from 1950 through 1955. Hubert was also interested in aviation and served as director for the Aero Club of British Columbia. He was made an honorary life member of the RVYC in 1972.