4. Ian Buss, Former Lloyds Banking Group Head of Education, now Director of Education Banking Consultancy

Reading Time: 2 minutes

This week Tim is in central London to talk to Ian Buss, Former Lloyds Banking Group Head of Education and now Director of Education Banking Consultancy about the success of Lloyds in their supports of MATS and academies and Ian’s aims to help further maximise MATs and academies funding.

 

On this episode we cover:

 

How the sector can work together better

How the constantly changing sector needs support

Lloyds popularity in the industry

Ian’s task of setting up the education team

How schools want to be with someone who understands them

Michael Gove’s academy growth from 2010

Investment of CPD and training in the team

Banks being relatively similar on pricing

An academy being able to speak to a relationship manager

Supporting the academy as best as possible so the academy can concentrate on pupils

How no two academy trusts are the same

Constant challenges from the ESFA and Department of Education

Lloyds looking after around 70% of academies

Ian’s own change in career – going it alone

Lloyds moving towards a more local banking structure

Wanting to work directly with MATs with his own business

Opportunity for MATs to earn significantly higher amounts of interest on GAG funding

How the sector can achieve £10-20 million per year in efficiencies and banking interest

How MATs grew slowly from single academy trusts

MATs and academies struggling to take advantage of the opportunities

Lloyds being successful because the relationship managers knew the sector inside out

The sector’s natural aversion to risk

Only wanting to work with an academy when can help them generate significant return

How the ideal time for schools to consult a bank is when they’re considering converting

Leaving the education sector in a more financially healthy and knowledgeable state

So much academies can do to get greater efficiency on finances and greater returns

Aiming to help academies and MATS maximise limited funding so they can plough this into catering for the children’s needs