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Supporting excellence 36
Finances 38
Treasurer’s report 40
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London Business School’s international We have also varied our output to great
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Our faculty are renowned for influencing Corporate Governance’. Leverhulme from The Alfred P Sloan Foundation
the intellectual and strategic agenda of
business leaders, policy-makers and
Fellowships are awarded for original
research to “individuals of exceptional
for ‘Industry Change through Vertical
Disintegration: How and Why Markets Fostering rigorous, influential research
by world-class faculty
scholars worldwide. Their rigorous research energy and talent”. Emerged in Mortgage Banking’.
attracts international acclaim. Our diverse Dr Bert De Reyck (Management Professor Sir Andrew Likierman
faculty win numerous awards for their Science and Operations), Professor (Accounting) received an honorary
scholarship. Last year we recruited 13 Zeger Degraeve (Management Science doctorate (DBA) from Oxford
new faculty, bringing our faculty roster and Operations) and Pascale Crama Brookes University.
to 93 from 26 countries. (PhD2002) were joint winners of the Professor Hélène Rey (Economics)
Seventh Annual Case Competition for won the Centre for Economic Policy
Faculty accomplishments over the past ‘Phytopharm plc’. The competition is Research’s 2006 Germán Bernácer
year include: organised by the Institute for Operations Prize for top European economists.
Research and Management Science. Professor Eli Talmor (Accounting)
he Centre for Corporate Governance
T The Journal of Financial Intermediation gave evidence at the UK Treasury
was awarded £1.4 million by the bestowed a Best Paper Award on Select Committee in July. His address
Economic and Social Research Council Professor Julian Franks (Finance) was the leading testimony and was
(ESRC) in 2006. Specifically, finance for ‘Finance innovations and part of a panel of experts giving
Professors Julian Franks, Henri Servaes, corporate insolvency’. evidence on private equity.
Viral Acharya and Drs Paolo Volpin, Professor Lynda Gratton (Organisational Professor Chris Voss (Management
Joao Cocco and Denis Gromb were Behaviour) received the AESC Annual Science and Operations), along with
awarded the grant, which goes towards Award for her co-authored article, Stephanie Robertson (MBA99), Adrian
the costs of a three-year research ‘Reflections on Change’. The award Clarke (MBA2002) and Josephine
programme entitled ‘Corporate Governance, honours the best-published research on Brennan (JEMBA2002) won the
Capital Markets and Performance’. leadership and corporate governance. Ethics and Social Responsibility
Professor Viral Acharya (Finance) gained Dr Michael Jacobides (Strategic and category at the European Case Awards
a Leverhulme Research Fellowship to International Management) won the 2007 for ‘The Co-operative Group:
conduct research on ‘Private Equity and 2006 Industry Studies Best Paper Prize Fairtrade Chocolate’.
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Events on campus and various social and professional events, 15 European countries spent a weekend
The past year saw more than 100 events trips and conferences. Regional events, at our inaugural European Club Leaders
on campus. We were privileged to host hosted by student clubs with support from Conference in Zurich. The event helped
Chancellor of the Exchequer, the Rt Hon members of the School’s seven Regional to further strengthen our club network.
Alistair Darling MP, for his first-ever policy Advisory Boards, included the Latin America
speech in July. We also hosted former Business Forum, Africa Day, India Business The launch of our online Alumni CV
Presidents, including Carlos Salinas of Forum, and Middle East Day. Last year, Database and Job Board helped to
Mexico plus Andrés Pastrana Arango of our students received dozens of awards enhance our range of Alumni Career
Colombia, and India’s Finance Minister, and external recognition for their work. The Services. Since its launch in 2007,
P. Chidambaram. The School’s fifth annual following is a selection of global competitions more than 2,500 alumni have registered
Our aim is to produce graduates who possess An increasing number of students – now
Creating world-class programmes MBA the ability to lead others and implement
change on a global scale. We do this by
one-third – wish to complete the course
in 15 and 18 months. Our challenge is to
Employers agree. In 2006, 99% of our The programme continues to change so that Class profile:
full-time MiF graduates accepted full-time it is as relevant to participants as possible. Part-time Masters in Finance 2009
jobs within three months of graduation. This past year, we added a new elective, Total students 76
And employers fully or partially support Credit Risk, which attracted 98 students. Years of relevant experience (range) 2 - 20
69% of our part-time students. We take great pride in our continuing high Women 14%
student satisfaction results. In fact, our full- Primary nationalities 24
time MiF students gave the programme a Average GMAT 677
4.4 out of 5 rating for their overall satisfaction. Duration 21 months, evenings
26 27
Executive Education enjoyed a successful, Successful launch of a new Hedge Funds by 20% compared with the previous year.
yet challenging year. Faculty and staff
contributed to our client companies’
programme developed in collaboration
with the CFA Institute
Our flagship four-week General Management
programmes and Finance Executive
Executive Education
achievements, working closely with more Launch of the School’s Dubai initiative programmes experienced record participation
than 5,500 participants from 100 countries. that included running Dubai-based rates and customer satisfaction levels.
Executive Education delivered financial Open Programmes in Hedge Funds
growth despite staff turnover and increased and Leadership Our world-renowned finance academics and
global competition. £2.8 million refurbishment of the our location in the world’s leading financial
School’s on-campus accommodation centre have supported the development
We continued our commitment to Following seven extremely successful of a rigorous portfolio of Finance Executive
programme innovation and portfolio years at the helm of Executive Education, programmes. These programmes, like our
diversification, while meeting evolving client Professor Rob Goffee stepped down Masters in Finance degree, are closely
needs. Through a high-performance team, from the role of Faculty Director. aligned with professional practice.
which includes the recently-appointed Professor Nirmalya Kumar assumed
Associate Dean of Executive Education, the role in January 2007. In 2007-08, we will expand our market
and Director of the Centre for Management Appointment of Rory Simpson as depth in the Middle East and Asia through Custom Programmes: The Centre for
Development, Executive Education is Associate Dean, Executive Education the delivery of more programmes in Dubai. Management Development (CMD)
well positioned to further strengthen Appointment of Mark Malcomson,
client relationships and deliver continued Director, Centre for Management Our relationships with world-class new clients and to deliver phenomenal awarded to our custom programme for
growth in 2007-08. Development (CMD) companies such as Nestlé, Roche, PwC, custom programmes. PricewaterhouseCoopers.
Appointment of JoEllyn Prouty-McLaren, Barclays, RBS and SABIC both deepened
Highlights include: Director, Open Programmes. Executive Education and broadened. Our programmes continued The School was commended for its Despite such successes and many years of
Strong financial performance with increased Open Programmes profile: to be innovative and we endeavoured to innovative combination of education strong growth, CMD did experience a drop
Executive Education revenue to £30 million Open Programmes Total participants 1,947 respond to customer needs in the most and work-based learning at the 2006 in revenue during the year. In 2007 we
A 20% growth in Open Programmes’ The School enjoyed significant growth in its Women 23% creative ways, drawing on many more of the Managing Partners’ Forum (MPF) welcomed new leadership and our ambitious
revenue and record attendance on all Open Programmes. Participant numbers Primary nationalities 98 School’s resources. Our evolving relationship Management Practice Awards. The team has built a strong pipeline which bodes
Finance programmes across the portfolio of programmes rose Non-UK 74% with the finance faculty helped us to attract Best Learning Programme prize was well for the coming year.
30 31
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Encouragingly strong, record-breaking Second, support for faculty came in many 2006-07 saw record numbers of alumni
2007 expenditure
Staff costs 49%
External teaching and teaching support 22%
Research support 3%
Marketing 5%
Technology 2%
Premises and utilities 5%
Residences, catering and conferences 2%
Depreciation 5%
Other overheads (including tax) 7%
INCOME 2007 2006 EXPENDITURE 2007 2006 BALANCE SHEET 2007 2006
Finances
£’000 £’000 £’000 £’000 £’000 £’000
Academic fees Staff costs 43,129 38,571 Tangible assets 71,794 68,797
MBA 14,336 13,890 Other costs Investments 32,166 29,561
Sloan Fellowship MSc 1,798 1,719 External teaching Current assets 15,475 15,099
Executive MBA 6,255 7,026 and teaching support 19,490 17,542 Current liabilities (36,202) (30,491)
EMBA - Global 2,378 2,027 Research support 2,431 2,439 Long-term liabilities
Finance Programmes 9,322 8,623 Marketing 4,363 4,102 and provisions (2,917) (4,812)
PhD Programme 766 920 Technology 1,823 2,235 Net assets 80,316 78,154
Executive Education Premises and utilities 3,925 3,932
Open Programmes 11,848 10,299 Residences, catering
Executive Education and conferences 1,431 1,632 Represented by
Custom Programmes 13,787 14,846 Depreciation 4,691 4,115 Specific and
Total academic fees 60,490 59,350 Other overheads permanent endowments 12,002 9,899
(including tax) 6,300 5,423 General reserves 14,842 16,850
Other income Total expenditure 87,583 79,991 Pension reserve (2,917) (4,812)
Funding Council grants 7,298 7,464 Revaluation reserve 32,753 32,753
Research grants (Deficit) / surplus on operations Deferred capital grants 23,636 23,464
and contracts 6,472 5,257 (1,838) 3,771 80,316 78,154
Residences, catering
and conferences 2,674 3,061
Donations 4,114 2,408 OTHER KEY STATISTICS
Investment income 924 2,848 Net cash (outflow) /
Other (including share inflow for the year (1,894) 784
of joint venture) 3,773 3,374
Capital expenditure
Total other income 25,255 24,412 during the year 7,688 6,417
Total income 85,745 83,762
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Capital projects
continue into 2008 as we continue to
maintain class sizes and to grow our
Executive Education Open Programmes
in the Financial Statements. The School continues to require investment portfolio, our Finance Programmes
in its estate and facilities. During the year portfolio and our Executive Education
The other key movement year-on-year to 31 July 2007 the School spent £8 million Custom Programmes.
was the inclusion of a realised gain against a planned spend of £8 million
on investments of £1.9 million within on capital projects. Student and faculty These increases in academic fees will,
the surplus on operations in 2006. No numbers are increasing. The School’s however, be matched by continuing
investments were sold in 2007. Rather, physical capacity needs to be continually investment in faculty and in the
an unrealised gain of £1.9 million has expanded and the quality improved to School’s estate.
Results for the year been included in the total recognised meet demand.
gains for the year in 2007. Investments in External Relations and
Specifically, the School invested in fundraising will continue as we strengthen
A summary of the School’s results for the year to 31 July 2007 is as follows: Elsewhere, Degree Programme revenues upgrading the Executive Education relationships with alumni, global business
continue to grow. Executive Education Open bedrooms (£2.8 million); in adding partners and other similar institutions to
2007 2006 Programmes revenue continues to grow research facilities (£2.2 million funded by build global partnerships. Our endowment
£’000 £’000 significantly. Revenues from the School’s capital grants of £1.2 million); in general is key to greater success and we will
Income 85,745 83,762 Custom Programmes dipped slightly in the improvement of the estate (£1.8 million); continue to reach out to our community
Expenditure (87,583) (79,991) year but are now growing again. and in ISD (£0.9 million funded by capital to build this.
(Deficit) / surplus on operations (1,838) 3,771 grants of £0.5 million). This resulted in net
Staff and faculty costs continue to rise. capital expenditure of £6 million in the year.
Pension fund actuarial gain / (loss) 1,961 (4,907) The School has, however, managed to Depreciation of £5 million was charged
Revaluation of investments 1,866 (7) maintain or reduce overhead costs due to resulting in a year-on-year growth in fixed Catherine Webster
Total recognised gains / better procurement. This remains a priority assets of £3 million. Treasurer
(losses) for the year 1,989 (1,143)
for 2007/2008. 21 November 2007
42 43
Body, School
Professor Malcolm Grant CBE MA LLD
Provost and President
Julian Ha (CFE2003)
Senior Associate, Heidrick & Struggles
Africa Regional Asia Regional Advisory Europe Regional Latin America Regional Middle East Regional
Advisory Board Board Advisory Board Advisory Board Advisory Board
as at 1 November 2007 as at 1 November 2007 as at 1 November 2007 as at 1 November 2007 as at 1 November 2007
Mr David Hampshire (Chair) Mr Johann Nel The Hon Apurv Bagri (Chair) 1 Mr Rakesh Mathur Mr Paul-André Wenger (IEMP96) (Chair) Dr Jos Peeters Michael Perlman (MSc03) (Chair) Mr Saeb Eigner (IEMP97) (Chair) 1
UK Director, Human Resources, SABMiller plc Managing Director, Metdist Group Chief Executive Officer, Webaroo Inc Partner, BridgeLink AG Managing Partner, Capricorn Venture Partners President, Pancostura S/A Chair & Chief Executive Officer, Lonworld Group
UK UK USA Switzerland Belgium Brazil UK
Ms Eileen Carr (SLN97)
Non-Executive Director, Cluff Gold PLC Mr Osaze Osifo (MiFPT99) Mr Babar Ali Mr Nandan Nilekani Dr Daniela Battisti Mr John Rothenberg (MSc03) Mr Fernando Abrantes (SEP49) Mr Ahmed Al Araimi
UK Chief Executive Officer, Travant Capital Partners Advisor, Packages Ltd Chief Executive Officer, President and Managing Senior Programme Manager, Public Agency Senior Vice President, Investor Relations and Managing Director, Ipiranga Comercial Quimica SA Chairman, Qurum Investment Projects LLC
Nigeria Pakistan Director, Infosys Technologies Ltd for Economic Development Head of M&A, Unilever Brazil Sultanate of Oman
Mr Arnold Ekpe India Italy UK
UK Mr Oba Otudeko Mr Kumar Birla (MBA33) Mr Enrique Duhau (IEMP98) HE Mr Amr Al Dabbagh
Chairman, Honeywell Group Chairman, Aditya Birla Management Dr Gita Piramal Mr Jean-Christophe Bedos (SLN2000) Mr Waldemar Schmidt Chairman, Administracion E Duhau S.A.AG Governor, Saudi Arabian General
Mr Ebenezer N. Essoka UK Corporation Ltd Managing Editor, The Smart Manager Chief Executive Officer, Boucheron Chairman, Superfos A/S Argentina Investment Authority
Chief Executive Officer, Central & West Africa, India India France Denmark Kingdom of Saudi Arabia
Standard Chartered Bank Professor Winston Fritsch
UK Mr Charles Chau (MBA96) Mr Vijay Uttarwar (SLN98) Mr Marcial Campos Calvo-Sotelo Mr Gilbert Shaw (MBA98) Head of Investment Banking, HRH Prince Feisal Al-Hussein (IEMP98)
Chief Strategist and Managing Partner, President and Chief Executive Officer, Board Member, Banco Pastor, Puig Beauty, Managing Director - Europe, Middle East & Africa, Lehman Brothers Brazil Special Assistant to the Chairman, Joint Chiefs
Dr Gunther L. Faber IF Asia Strategist Limited Naturell (India) Pvt. Ltd Fashion and Agrolimen Itron Brazil of Staff, Jordan Armed Forces
Vice President, Sub Saharan Africa, China India Spain The Netherlands Hashemite Kingdom of Jordan
GlaxoSmithKline Mr Carlos Hellmund Jr. (IEMP98)
UK Dr Gus Chow (IEMP95) Mr Ramesh Vangal (MSc12) Mr Hasan Çolakoglu
˘ Mr Roberto Vedovotto (IMP94) Managing Director, Casa Hellmund Group Mr Zaid Al-Sulaiman (IEMP98)
Chief Executive Officer, Harmony Asset Ltd Chairman, Katra Group Chairman, TEB Financial Investments Chairman, European Luxury Goods Investment Venezuela Chief Executive Officer, Zaid Fahd Al-Sulaiman
Mr Keith Gubbin (SLN2000) China India Turkey Banking, Lehman Brothers International Group of Companies
Director, Africa Asset Management Ltd Italy Juan Pablo Hernandez de Alba (SEP39) Kingdom of Saudi Arabia
UK Mr Ho Kwon Ping The Hon Wong Kan Seng (MSc12) Ms Cecilia Kragsterman (ADP15) Director General, UK EasyFairs Colombia
Executive Chairman, Banyan Tree Deputy Prime Minister & Minister for Home Principal, CK Capital & Consulting Colombia HE Sheikh Mohamed Althani (SEP50)
Dr Mo Ibrahim Holdings Pte Ltd Affairs, Government of Singapore UK Qatar
Chairman, Celtel International B.V. Singapore Singapore Mr Antonio Quintella (MBA33)
UK Mr Tony Marchak Managing Director, Credit Suisse Mr Amr Enany
Mr Marcus Kennedy (MBA94) 2 Tan Sri (Dr) Francis Yeoh Sock Ping Vice-President, Human Resources, Global Brazil Vice Chairman, Enany Group of Companies
Sir Sam Jonah Integration and Strategy, Suncorp Managing Director, YTL Corporation Berhad Operations, BP International Plc Kingdom of Saudi Arabia
Non-Executive Director, AngloGold Ashanti Ltd Australia Malaysia UK Mr Alvaro Trejos (IEMP96)
South Africa Chairman, Trejos Hermanos Sucesores HE Dr Anwar Gargash
Mrs Ingrid Kwok (MSc10) Dr Costas Mitropoulos (PhD82) Costa Rica Minister of State for Federal National Council
Mr Kamlesh Madhvani (MSc12) Executive Director, Sun Hung Kai Trading Co. Ltd Chairman and Chief Executive, KANTOR Affairs and Executive Director, Gargash Enterprises
Joint Managing Director, Kakira Sugar Works China Management Consultants S.A. United Arab Emirates
(1985) Ltd Greece
UK Dr Eric Li
Senior Partner, Li, Tang, Chen & Co Mr Idan Ofer (MSc15)
Dr Nokosana Moyo China Chairman, Israel Corp.
Managing Partner - Africa, Actis Capital LLP Israel
UK Tengku Tan Sri (Dr) Mahaleel Tengku Ariff
Malaysia
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Board
Francesca Cornelli BA (Bocconi) Assistant Professor of Marketing
(All UK Regional Advisory Board
PhD (Harvard)
members are based in the UK)
Professor of Finance Francisco Gomes BA (Universidade Nova de
as at 1 November 2007 as at 1 November 2007 as at 1 November 2007 as at 1 August 2007 Lisboa) MA PhD (Harvard)
Nicolas Coeurdacier BSc (Ecole Polytechnique, Associate Professor of Finance
Mr Nigel Andrews (MSc11) (Chair) 1 Mrs Peggy Czyzak-Dannenbaum (MSc09) (Chair) Mr Tim How (MSc12) Russell Altendorff Viral Acharya BTech (IIT, Bombay) PhD Paris) ME (PSE and ENSAE) PhD (PSE) Nirmalya Kumar BCom (Calcutta University)
Advisory Board member Zon Capital Partners Vice Chair and Trustee, Brogdale Horticultural Trust Chief Executive, Majestic Wine plc Director, Information Services Division (Stern School of Business, NYU) Assistant Professor of Economics Lynda Gratton BA PhD (Liverpool) MCom (Shivaji University) MBA (Illinois)
USA Paul Ellis Professor of Finance Professor of Management Practice in PhD (Northwestern)
Mr Jeremy Asher Mr Nicholas Jones (MSc08) Representative, Subject Area Administration Victor DeMiguel MSc (Madrid) MS PhD (Stanford) Organisational Behaviour Professor of Marketing, Faculy Director
Mr Philip Airey (MBA25) Chairman, Agile Energy Ltd Vice Chairman, Lazard Eli Amir BA (Tel Aviv) MSc PhD Assistant Professor of Decision Sciences for Executive Education
Managing Partner, Bluebird Partners, LLC Richard Frost (University of California, Berkeley) CPA (Israel) Denis Gromb PhD (Ecole Polytechnique, Paris)
USA Dr Paul Atherton (MBA26) Mr Oliver Jones (MBA26) Secretary and Planning Director Professor of Accounting Zeger Degraeve BSc (Ghent) MBA (Katholieke Associate Professor of Finance Margaret Kyle BS (Cornell) PhD (MIT)
Chairman, NanoVentures Chief Executive, The Asset Factor Graham Hastie Universiteit Leuven) PhD (Chicago) Assistant Professor of Strategic and International
Mr John Bowmer (MSc05) Strategist Suleyman Basak BSc (London) Professor of Decision Sciences; Faculty Director, Bruce Hardie BCom MCom (Auckland) Management and Economics
Non-Executive Co-Chairman, Berkeley Scott Mr Ranjan Banerji (MSc09) Mr Derek Lewis (MSc01) MS PhD (Carnegie Mellon) Dubai MA PhD (Pennsylvania)
Group plc Senior Vice President, European Supply, Chairman, Protocol Associates NV Lyn Hoffman Professor of Finance Associate Professor of Marketing ; PhD Chair Anja Lambrecht Diplom-Kauffrau MS (Goethe
UK Reckitt Benckiser plc Associate Dean, EMBA/Sloan Programmes Elroy Dimson BA (Newcastle) University & Universite Paris-Dauphine) PhD
Mr Brian Lynas Gareth Howells Jean-Pierre Benoit BA (Yale) PhD (Stanford) MCom (Birmingham) PhD (London) Michael Hay BA DPhil (York) (Goethe University)
Mr Federico Castellanos Mr Peter Bennett (SEP39) Non-Executive Director, Ocado Acting Associate Dean, MBA Programme Professor of Economics Professor of Finance Sloan Fellow (London Business School) Assistant Professor of Marketing
Vice President, Human Resources, Global Sales Professor of Management Practice in
and Distribution, IBM Mr Roger Carlsson (MSc17) Dr Philip Nolan (MBA30) Paul Humphries Marco Bertini BA BCom (Melbourne) MBA James Dow MA (Cambridge) PhD (Princeton) Entrepreneurship and Strategic and Brandon Lee MS PhD (Cornell)
Director, Facilities
USA Chairman, FCT Europe Ltd and Chairman, Irish Management Institute (IESE Business School, Navarra) DBA (Harvard) Professor of Finance International Management Assistant Professor of Strategic and International
Trustee, Carlsson Family Foundation Ireland Donald Kirkwood Assistant Professor of Marketing Management
Mr Don Cowan (SLN 97) Director, Development Chris Earley BA (Knox College) MA PhD (Illinois) Emeric Henry BA (Dauphine, Paris)
Chairman and CEO, Brompton Bancorp Ltd Mr Christopher Deacon (LEP41) Sir Chris O’Donnell (MSc05) David Lane Julian Birkinshaw BSc (Durham) Professor of Organisational Behaviour MA (ENSAE) MA PhD (Stanford) Andrew Likierman MA (Oxford) FCMA FCCA
Canada Director, Thames Water Utilities Limited Director, Marketing and Communications MBA PhD (Western Ontario) Assistant Professor of Economics Professor of Management Practice in Accounting
Mr John Ormerod Professor of Strategic and International David Faro MSc (London) PhD (Chicago)
Mr Francis Finlay 1 Mr Martin Deboo (MBA93) 1 Director, Computacentre plc Mark Malcomson Management; Deputy Dean (Programmes) Assistant Professor of Marketing Ena Inesi BSE (Duke) PhD (Stanford) Lars Lochstoer SivilingenØr, (Norwegian University
Chairman and Chief Executive Officer, Consumer Goods Analyst, Investec Bank (UK) Ltd Director, Centre for Management Development Assistant Professor of Organisational Behaviour of Science & Technology)
Clay Finlay Inc. Mr David Thorp (MSc04) Diane Morgan Simona Botti BBA (Bocconi) Isabel Fernandez-Mateo BA (Carlos III, Madrid), PhD (University of California, Berkeley)
USA Mr John Dembitz (MSc08) Partner, ISIS Partners EP LLP Director, Career Services MBA PhD (Chicago) MSc (UPF, Barcelona), PhD (MIT) Michael Jacobides BSc (Athens) Assistant Professor of Finance
Chairman, Coffee Point plc Assistant Professor of Marketing Assistant Professor of Strategic and International MA PhD (Wharton)
Mr Roger Miller (MSc02) Mr Jeff Warren (SEP40) JoEllyn Prouty-McLaren Management and Adecco Research Fellow Associate Professor of Strategic and International Babis Mainemelis BS (Thessaloniki)
Director, Open Programmes
Private Investor and Financial Consultant Mr Peter Dixon (MSc10) Non-Executive Director, Derek Bunn MA (Cambridge) MSc PhD (London) Management MBA (San Francisco)
USA Principal, Professional Services Consulting Oxford Genome Sciences Ltd Sarah Seedsman Professor of Decision Sciences Francesca Franco BS (Bocconi) PhD (Padova) PhD (Case Western Reserve)
Director, Alumni Relations Assistant Professor of Accounting Tim Johnson MS MBA (Columbia) Assistant Professor of Organisational Behaviour
Mr Nigel Morris (MSc19)1 Mrs Roshy Dwyer (SLN2001) Mr David Williams (MSc11) 1,2 Mikhail Chernov BS MS (Moscow State SB (MIT) PhD (Chicago)
Rory Simpson
President, Ffestiniog Company LLC Advisor, Butane Group Operating Partner, Duke Street Capital Associate Dean, Executive Education University) PhD (Pennsylvania State University) Julian Franks BA (Sheffield) MBA (Columbia) Associate Professor of Finance Igor Makarov MS (Moscow State University)
USA Associate Professor of Finance PhD (London) MA (New Economic School, Moscow) PhD (MIT)
Mr Tim Faithfull (SEP16) Sabine Vinck Professor of Finance Brandon Julio BA (Brigham) MS (South Carolina) Assistant Professor of Finance
Mr Fred Pakis (SLN12) Non-Executive Director, AMEC plc Associate Dean, Finance Programmes Office Joao Cocco BA (Universidade Catolica PhD (Illinois)
USA Rosemary Vipond Portuguesa, Lisbon) MA PhD (Harvard) Kristin Fridgeirsdottir MS PhD (Stanford) Assistant Professor of Finance Christopher Malloy BA (Yale) MBA PhD (Chicago)
Mr Philip Green (MSc10) Director, Academic Affairs Office Associate Professor of Finance Assistant Professor of Decision Sciences Assistant Professor of Finance
Chief Executive Officer, United Utilities plc Art Kraft BBA MAcc (Michigan) PhD (Chicago)
Catherine Webster Lisa Cohen MBA (Duke) PhD Vito D Gala BA (Bocconi) MBA PhD (Chicago) Assistant Professor of Accounting
1
indicates membership of the Governing Body Chief Financial Officer (University of California, Berkeley) Assistant Professor of Finance
2
indicates membership of the International Philip Willatt Assistant Professor of Organisational Behaviour Gillian Ku AB (Harvard) MS PhD (Northwestern)
Alumni Board Director, Human Resources Assistant Professor of Organisational Behaviour
70 71