Big Society Bank board announced

29 July 2011

This morning the Cabinet Office announced further developments in the Big Society Bank. Now to be named ‘Big Society Capital’ (BSC), two expert boards have been announced, one of which features our Chair Sir Stephen Bubb.  

The BSC will act as a wholesale investor for social investment and champion the sector to the public, stakeholders and investors. It will invest in intermediary organisations so that they are able to invest in frontline organisations.

Sir Ronald Cohen will serve as interim Chair of Big Society Capital Limited, the operating company of the group and Nick O’Donohoe, formerly Global Head of Research at JP Morgan, will take the helm as Big Society Capital’s first CEO.

The board working to lead Big Society Capital includes:

• Sir Ronald Cohen, Chair (the Portland Trust and Bridges Ventures)
• Nick O’ Donohoe, CEO (formerly JP Morgan)
• Dawn Austwick (Esmee Fairbairn Foundation)
• David Carrington (Independent Consultant)
• John Kingston (Association of Charitable Foundations)
• Geoff Mulgan (National Endowment for Science Technology and the Arts)
• Dai Powell (HCT Group)
• Lady Susan Rice (Lloyds Banking Group)
• Danielle Walker Palmour (Friends Provident Foundation)

The Board of the Big Society Trust, responsible for ensuring the group stays true to its mission, has also been appointed.

It’s members include:

• Sir Richard Lambert (University of Warwick)
• Ian Davis (formerly McKinsey & Co)
• Baroness Pitkeathley (House of Lords)
• David Robinson (Community Links)
• Sir Stephen Bubb (CEO of ACEVO) [ex officio in rotation every three years with NCVO]
• Peter Holbrook (CEO of Social Enterprise Coalition) ex officio
• Gareth Davies (Cabinet Office) ex officio
• Sir Ronald Cohen (Chair of BSC) ex officio

You can find out more about Big Society Capital, including how much money will be available and when it is due to open, on the Cabinet Office website