The Journal
FROM THE BURSAR their way through the first chapter of the pandemic. It is clear to me that in tackling the impact of the pandemic we as a community have benefitted immensely from our transparent governance and strong culture.
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I am pleased to write my first set of Bursar’s notes, having succeeded Andrew Powell at the beginning of October 2020. I am immensely grateful to Andrew, not only for the skill and care in which he steered the College’s finances for some 11 years but also for the extensive handover I received. The warm and opening welcome I have had from all elements of the College community and the superb support from colleagues across the College have enabled me to settle in and left me with a sense that I have been here longer than just a few months. I come to the role of Bursar with over 30 years experience in finance and business. I have a background in corporate finance, working for a number of international banks, before founding a financial advisory company in the early 2000s. I have a good knowledge of Cambridge, having lived here since I was an undergraduate studying Architecture at St Catharine’s College in the mid 1980s. That knowledge is reinforced through my involvement in local politics and as a trustee of a local homeless charity. As a result, I have some visibility of the workings of the University and collegiate Cambridge (my wife is an academic) but I still have a lot to learn.
FIRST IMPRESSIONS Michaelmas Term 2020 has gone so quickly, just as terms tended to do when I was an undergraduate. Overlaid on the natural cycle of term activity has been the ongoing management of the pandemic. It has required us to be nimble and creative across all aspects of College life. I have been fortunate to benefit from the experience of a group of colleagues who had navigated
The challenges for the College in Michaelmas Term were similar but different from the ones we faced earlier in the year. Whilst in the first lockdown, the majority of students went home, in the lockdown in November the student population remained in residence. The Term saw the erection of a marquee on Fellows’ Court, to provide a much-needed outdoor space for all members of the community. New practices have also emerged, such as the weekly asymptomatic testing for students and the socially-distanced formal halls. Our students have enthusiastically embraced the different living environment the pandemic has forced upon us, such as making the most of our outdoor spaces for student events even when the weather was inclement. Our staff, who are the glue that ensure our community runs smoothly, have stepped up to the challenges the pandemic has caused. As they have in the past, they have gone the ‘extra mile’ during term to ensure that College life is as normal as can be for all members of our community.
FINANCE AND INVESTMENTS The year was one of two parts, with a clear divide when the COVID-19 pandemic broke in March. In November 2019, the Governing Body approved the adoption of new investment principles prioritising environmental, social and governance behaviour as part of its ongoing commitment to sustainability (ESG). The College had not invested directly in high impact fossil fuels, tobacco manufacturers, or weapons manufacturers since 2016, and the formal adoption of ESG principles at the heart of the College’s investment policy, marks an important consolidation. Indirect investments in these areas will now be minimised and kept under constant review. The adoption of these principles was the outcome of a College-wide consultation led by the Investment Committee over a number of months, but also including open meetings with students and the Fellowship.
