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