Sir Richard Lambert announced as chairman of The Big Society Trust

By: 

Cheryl Chapman

Managing Editor, Philanthropy UK

Financial Times former editor Sir Richard Lambert has been announced as chair of the Big Society Trust, which will oversee Big Society Capital’s activities so as to ensure that it stays true to its mission.

Sir Richard brings experience of business, finance, policy and the media. As well editing the Financial Times (1991-2001) he was a member of the Monetary Policy Committee of the Bank of England (2003-2006), and between 2006 and 2011 was director deneral of the Confederation of British Industry. He is also Chancellor of the University of Warwick and is a Trustee of the British Museum.

Sir Ronald Cohen, Big Society Capital’s  (BSC) chair says Sir Richard’s “exceptional breadth of experience will be a huge asset in developing the social investment market in the UK.”

Sir Richard Lambert said he was pleased to be “in at the beginning” of Big Society Capital which “has the capacity to make a real difference”.

The Trust is intended to establish a charitable foundation which could receive donations from third parties and BSC from time to time, whose purpose would be to put charitable funds to work in direct support of BSC’s mission.

Other members of the Big Society Trust Board appointed this week are: Sir Stephen Bubb (ACEVO), Gareth Davies (Cabinet Office), Ian Davis (McKinsey and Co), Peter Holbrook (Social Enterprise UK), Baroness (Jill) Pitkeathley (House of Lords) and David Robinson (Community Links).  Sir Ronald Cohen is also a member in his position as chair of Big Society Capital.

The BSC group comprises a holding company the Big Society Trust (“BST”), a company limited by guarantee and its operating subsidiary Big Society Capital Limited (“BSC”), a private company limited by shares.

The purpose of the BSC group is to support the growth of a market for social investment in the UK - investments made for social as well as financial returns; to be able to attract greater levels of capital from a more diverse range of sources to address social issues; and to be able to allocate capital more effectively to achieve greater social impact. By supporting the growth of this market through investment in Social Investment Finance Intermediaries and investment in market infrastructure, BSC aims to improve very significantly the social sector’s ability to access capital and deliver positive benefits to society.