Annual Report 2018
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Annual Report
Contents 4
Dean’s welcome
6
School Strategy 2018 – 2028
8 Rankings 10
Advisory Board
12
Management Board
14
Faculty appointments
16
Research
24
Postgraduate programmes
30
Enhancing the student experience
32
Careers
34
Empowering entrepreneurs
36
Undergraduate programmes
38
Executive Education
42
External relations
46
Alumni connections
52
Scholarship awards
54
Industry partnerships
56
Key highlights of 2018
58
Personal recognitions
60
Financial report
62
Donor list
Cover 2018 saw the launch of our new School Strategy – Leadership in a technology-driven world. Read more about this on page 6–7.
Inside cover Over 160 alumni, students and faculty attended an exclusive event at the London Stock Exchange to celebrate the 20th anniversary of Imperial College Business School’s MSc Finance programme.
Imperial College Business School
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Dean’s welcome
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In 2018, Imperial College Business School launched its strategy for the next 10 years. Our cutting edge research and intellectual leadership are already shaping the business world. Our leading programmes have driven a multiple-fold growth in applications, and we are attracting top quality students, while being at the vanguard of innovation in educational technology. But this is only the start.
By 2028, we will be among the world’s leading business schools, with a diverse, engaged and supportive research and learning environment; one that leverages our strengths in technology and entrepreneurship to benefit business and improve society. We will strengthen our world-class capabilities in finance, digital transformation, entrepreneurship, health and sustainability. To achieve our goals and aspirations, over the next few years we will be developing a set of ambitious strategic initiatives based on four pillars: research and intellectual leadership; learning and teaching; people and resources; and collaborations with wider College and external partners. These will bring our strategy to life. Our new strategy has received fantastic support from our alumni community. Over the past few months we have been travelling the world, presenting our strategy to alumni groups as far apart as Beijing, Mumbai and Toronto. Closer to home, we have welcomed a new Associate Dean of Programmes (Leila Guerra) and Director of Executive Education (David Brown) to lead our ambitious growth and development efforts in these key areas. But we also need to reach beyond our own community, to engage the external partners who will help us to develop our
strategy. This year’s annual conference was our largest ever, with speakers including a Nobel laureate, a representative of the Bank of England, and the CEO of an international banking group. The launch of our hologram lecture technology in November, meanwhile, brought us the widest media coverage we have ever enjoyed for a single event. To provide further unity and guidance to such efforts, Professor Nelson Phillips has been appointed as our first Associate Dean of External Relations, building on the key role he played in developing our new strategy. This year was the start, but much work lies ahead. We are already looking at how to reorganise our academic departments to increase our academic impact and intellectual leadership in the world. Our objectives are ambitious, but I believe attainable. With the help of our valued partners and fantastic teams across academia and industries, we will show that Imperial means business.
Professor Francisco Veloso Dean of Imperial College Business School
Imperial College Business School
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School Strategy 2018 – 2028 Leadership in a technology-driven world We are delighted to introduce the new Imperial College Business School strategy for 2018 – 2028.
We’re excited about our new strategy because it builds on our strengths, increases our impact on society and business, and has a clear development path involving the wider College. The strategy builds on our past successes and projects our vision for the future. It will frame important decisions for the Business School and help identify the expertise and collaborations we need to drive global business and social transformation. We’re confident that, as a result of the strategy, we will be more resilient and agile in responding to the ongoing changes within the wider worlds of business and higher education.
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Furthermore, our new strategy will fuel our mission to inspire brilliant minds to be the world’s future leaders of business and society. Here, we introduce the four strategic pillars against which we will measure our progress. In future annual reports, we look forward to providing you with updates as we reach our goals.
Our four strategic pillars
Research and intellectual leadership We will grow and deepen academic capabilities –– Increase our world-class research faculty to 100-110, across academic areas.
Learning and teaching We will achieve focused growth and digital innovation –– Grow our portfolio of programmes.
–– Hire professors of practice and teaching fellows to complement the research faculty.
–– Create a world-class interdisciplinary undergraduate programme.
–– Grow our PhD programme, together with the College.
–– Achieve five-fold growth in Executive Education.
–– Balance and strengthen academic areas, and develop our key strategic engagement themes in the areas of: economics and finance of climate change; digital transformation; financial and institutional resilience; healthcare management and policy; and sustainable growth and social responsibility. We will affirm our intellectual leadership –– Become an even stronger voice in key public policy issues. –– Develop a leading-edge digital presence. –– Build engagement with key communities.
–– Organise our programmes into suites, focused on strategic engagement themes. We will improve the student experience –– Further emphasise leadership and entrepreneurial drive. We will further focus our learning and teaching approach –– Strengthen our user-centric, innovative, end-to-end student experience, using digital and smart tools. –– Develop our blend of learning approaches, including experiential and co-curricular learning. –– Nurture skills fit for the future; both analytical and soft. –– Provide global career support both on-campus and online, for students and alumni.
People and resources We will strengthen our values and culture
College collaboration and external relations
–– Rediscover and affirm our core values.
We will undertake an ambitious fundraising campaign
–– Embed gender equity as a key pillar of our culture.
–– Support the delivery of our growth ambitions in facilities and space, and academic reach.
–– Develop initiatives to support open and informal communication.
We will deepen links with our close community
We will enact a future-orientated structure and matching processes –– Grow and reorganise to better support strategic goals. –– Streamline our core processes and invest in smart digital solutions to support them. –– Bolster processes for evaluation, recognition and progression. We will create a new world-class facility in Imperial @ White City –– Become a key anchor in the new campus for translation, innovation and entrepreneurship.
–– Amplify College collaborations, while working as a lead innovator in teaching and student engagement. –– Significantly increase our alumni engagement. We will foster a set of critical partnerships –– Become the focal point for the London entrepreneurial ecosystem. –– Continue building relationships with leading corporations to support our strategic themes. –– Partner with the top international schools in key regions.
–– Maintain a presence and contribution in South Kensington.
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Rankings Rankings are a useful indicator of how well we are performing against other business schools: they are a valuable channel for sector and alumni feedback; they can offer insights into particular areas of study, and highlight key strengths of individual schools; and they are obviously a key tool when students decide where to study.
Business School
MBA programmes
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39
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Financial Times Executive MBA World
QS Online MBA World
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2
2
Financial Times European Business Schools Europe
Financial Times Full-Time MBA World
3
MSc programmes
9
Financial Times MSc Finance World
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Financial Times MSc Management World
QS Business Analytics World
QS Marketing World
In 2018, we were delighted to be ranked first in the world for gender parity and the international mix of our faculty in the Financial Times MSc Finance and MSc Management rankings.
Gender (students)
1
Financial Times MSc Finance World
1
Financial Times MSc Management World
International faculty
1
Financial Times MSc Finance World
1
Financial Times MSc Management World
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Advisory Board The Business School’s Advisory Board provides strategic advice, communicates the School’s goals, and reviews its progress against its objectives. The Board comprises high-level external representatives of business as well as members of the Management Board*. The external members are:
Iain Conn (Chair) Chief Executive, Centrica
Zein Abdalla Former President, PepsiCo
Ian Coleman Chairman, Vixcroft
Iain joined Centrica in 2015, before which he was a member of BP’s Board of Directors and Executive Management Team. He was the Chief Executive of the BP Group’s refining and marketing business, and also held regional responsibility for Europe, Southern Africa and Asia-Pacific. Iain studied Chemical Engineering and Management at Imperial College London.
Zein was President of PepsiCo from 2012 to 2014. In his 19 years at the company, he held a number of senior executive positions and led a number of large-scale acquisitions and transformations. Before PepsiCo, he was at the Mars Group, starting as an engineer and eventually becoming General Manager of their Middle East and North Africa business.
In addition to his role with Vixcroft, a well-established property company, Ian consults privately through Chiddingstone Consulting. From 1987 to 2012, he worked for PricewaterhouseCoopers, leaving the company as Senior Chief Relationship Partner. While there, he managed a number of key client accounts, consulting for senior executives on corporate value issues.
Mary Meaney Senior Partner, McKinsey
Catherine Moukheibir Chair, MedDay Pharmaceuticals
Mary leads McKinsey’s work in Organization across Europe. She was previously the Global People Leader and Global Learning Leader for McKinsey’s Organization practice. She is co-founder of the McKinsey Women’s Initiative, which aims to promote women leaders in business. She regularly participates in McKinsey research, evaluating the progress of women in leadership in the corporate world, and recommending means of fostering it.
Catherine is an experienced finance executive who has held senior positions in big, small, public and private companies. She holds positions at MedDay Pharmaceuticals (as Chairman of the Board), Zealand Pharma (as a Non-Executive Director and Chair of the Audit Committee), Innate Pharma (as a Member of the Executive Board) and Ablynx (as a Non-Executive Director and Member of the Audit Committee).
Mike Shepherd Managing Director, Growth Point Technology Partners
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Mike is a software engineer and entrepreneur based in Silicon Valley and advises technology companies on investments and exits. He has closed transactions with companies such as BMC Software, Cavium, Fair Isaac, HP, IBM, Intel, Microsoft, Oracle, Symantec, F5 and VMware. Before co-founding Growth Point Technology Partners, Mike was a principal at SVB Alliant, conducting software mergers and acquisitions.
Bronwyn Curtis Chairman, JP Morgan AIT Bronwyn is a financial economist who has held senior executive positions in various financial and media organisations. In addition to her position at JP Morgan AIT, she is a Non-Executive Director at Scottish American Investment Trust, a Director at Mercator Media, and a Governor of the London School of Economics. From 2008 to 2013, she was Head of Global Research for HSBC.
Rolf Stahel Chairman, Chesyl Pharma Rolf registered Chesyl Pharma in 2003, offering consultancy services to portfolio companies. He is also NonExecutive Chairman of Connexios Life Sciences, Ergomed and Midatech Pharma. He was previously CEO of Shire Pharmaceuticals Group. As Regional Director at Wellcome, Rolf was responsible for 18 Pacific Rim countries; his last position with the company was Director of Group Marketing, reporting to the Chief Executive.
Sunil Kappagoda Advisor and Board Member, fintech, banking and financial services companies Sunil has a 27-year track record of delivering high impact results in the financial services sector, with a particular focus on fintech. His experience spans the Boston Consulting Group, Oliver Wyman, Booz Allen, Verifone Systems, Citibank and the World Bank. As well as various postgraduate qualifications, he has an undergraduate degree from Imperial College London.
Joanne Linder Owner, SmartPitch Joanne is Co-Chair of the School’s Alumni Advisory Board (see page 48) and an active member of the alumni community. She started her career at BAE Systems, initially on airborne systems and then in the military aircraft division. She had a largely blue-chip career until her MBA, after which she set up her first business and became a pioneer in personalised web content.
Advisory Board Scholarships Through generous donations from our Advisory Board, a series of scholarships have been made available to provide exceptional students with the means to join the Full-Time MBA programme. Scholarships were made available to two Full-Time MBA students in the 2018-19 academic year (read more on page 53). Two more will be available in 2019-20, and one during 2020-21.
* The internal members of the Advisory Board are Leila Guerra, Professor Carol Propper and Professor Francisco Veloso, all three of whom are also members of the Management Board. You can find out more about them on pages 12–13. Imperial College Business School
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Management Board The Management Board is responsible for the strategic direction of the Business School.
Professor Francisco Veloso (Chair) Dean
David Brown Director of Executive Education
Hannah Edwards Strategy and Planning Manager
Professor Richard Green Head of Department, Management
Professor Veloso is a leading authority in innovation and entrepreneurship; his work has included studies into the development of Silicon Valley, and the innovation and scientific impact of developing nations. He was previously Dean of Católica Lisbon School of Business & Economics and retains an adjunct professorship at Carnegie Mellon University.
David joined the School in March, having previously been Executive Director of Client Solutions at London Business School. His appointment to the new role of Director of Executive Education is part of a wider initiative to accelerate, expand and further strengthen Executive Education at Imperial College Business School.
Hannah is responsible for the strategic planning process and implementation of strategy through the School Advisory Board, Management Board and Rankings Committee. This involves supporting strategic projects, performance information reporting, and communication. She joined the School in 2016 from Imperial College London’s Graduate Management Training Scheme.
Professor Green is an economist and Professor of Sustainable Energy Business. He was previously Professor of Energy Economics and Director of the Institute for Energy Research and Policy at the University of Birmingham, and Professor of Economics at the University of Hull.
Professor Alex Michaelides Head of Department, Finance
Professor Markus Perkmann Head of Department, Innovation & Entrepreneurship
Professor Nelson Phillips Associate Dean of External Relations
Professor Carol Propper Associate Dean of Faculty and Research
Professor Michaelides joined the Business School in 2013. He is also a Research Fellow at the Centre for Economic Policy Research (International Macroeconomics and Financial Economics Programmes), the Center for Financial Studies in Frankfurt, and the Network for Studies on Pensions, Aging and Retirement in the Netherlands.
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As well as heading the Department of Innovation & Entrepreneurship, Professor Perkmann is the Academic Director of the Imperial Enterprise Lab and directs the MBA Entrepreneurial Journey. He is Co-Editor in Chief of the journal Innovation: Organization & Management.
Acting Dean of the School from 2016 to 2017, Professor Phillips continues to hold the Abu Dhabi Chamber Chair in Innovation and Strategy. He this year took up the newly created position of Associate Dean of External Relations, helping to create an integrated approach to communications across a number of internal teams.
In April, Professor Propper was awarded a €1.5 million European Research Council Advanced Grant, and in October was made an International Fellow of the National Academy of Medicine. Previous accolades include a CBE, a fellowship of the British Academy, and the International Health Economics Association’s Arrow Award.
Leila Guerra Associate Dean of Programmes
Dr Renáta Kosová Diversity Committee Chair
Bernadette Kuforiji* Faculty Finance Officer
Leila joined Imperial College Business School in March. She specialises in business and strategy development, and product innovation. She previously redesigned the structure of IE Business School’s master’s programmes (which now feature highly across international rankings) and oversaw the launch of London Business School’s Master’s in Financial Analysis.
Dr Kosová is an Associate Professor of Economics in the Department of Management, and until January 2018 was Programme Director of the MSc Economics & Strategy for Business. She joined the Business School in 2013 and has been Chair of the Diversity Committee since 2016.
Bernadette joined the School in 2011. She is responsible for the provision of a comprehensive suite of professional financial and management accounting services at both strategic and operational levels. Before joining the Business School, she was the Estates Finance Manager for Imperial College London.
Jon Tucker Faculty Operating Officer
Professor George Yip* Associate Dean of Executive Programmes
Amelia Jedynak Executive Assistant to the Dean’s Office (secretary to the Board)
Professor Yip joined the School in 2016. He previously held positions as: Professor of Strategy and Co-Director of the Centre on China Innovation at China Europe International Business School; Vice President and Director of Research and Innovation at Capgemini Consulting; and Dean of Rotterdam School of Management, Erasmus University.
Amelia’s role as EA to the Dean’s Office means she supports both the Dean and the Faculty Operating Officer, facilitating meetings, travel and events; she also provides strategic reporting information to the Management and Provost’s Boards. She previously worked in Imperial College London’s Department of Chemical Engineering.
Jon joined Imperial College Business School in 2009. Before that he was Director of Corporate Services for the Science Museum Group. His background includes a period directing executive development for Lloyds TSB and extensive experience in commercial and retail banking. He studied Natural Sciences at the University of Cambridge.
Dr Edgar Meyer Associate Dean of Undergraduate Programmes and Education Quality Dr Meyer looks after programmes that support the development of business and management knowledge in undergraduate students across Imperial College London and beyond. He is an academic member of the Chartered Institute for Personnel and Development, where he also acts as a membership assessor.
*Will be leaving Imperial College Business School in 2019. Imperial College Business School
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Faculty appointments We welcomed the following academics to the Business School in 2018:
Department of Finance Dr Kieran Arasaratnam Professor of Practice and Associate Director, Gandhi Centre for Inclusive Innovation An Imperial PhD alumnus, Dr Arasaratnam spent 15 years in the banking sector where he worked for Barclays Capital, Morgan Stanley and HSBC across Europe, the US and Asia. Over the course of his career, he has worked on various financial innovation initiatives that have had a transformative impact on his industry. His work at the Gandhi Centre is focused on harnessing his various disciplines across science, technology and finance. Dr Deeph Chana Professor of Practice Dr Chana has extensive experience of working on world-leading STEM projects in academia, industry and government. He is the founder of a STEM consultancy specialising in enterprise technology and critical-infrastructure applications, and has previously worked as a senior science and technology official within the UK Government. In that role he: led international STEM diplomacy initiatives; directed and funded national security research programmes; and set national technology policy, standards and regulation. Professor José-Luis Peydró Professor of Finance Joins from Barcelona Graduate School of Economics, where he held the position of Research Professor. Professor Peydró’s areas of interest is in banking and systemic risk. Dr Michael Wells Professor of Practice Dr Wells is a World Bank consultant working to deepen understanding of international financial reporting requirements. For over a decade, he led the International Accounting Standards Board’s International Financial Report Standards Education Initiative. He also serves on the American Accounting Association Membership Advisory Committee.
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Dr Ansgar Walther Assistant Professor of Finance Joins from the University of Warwick where he was Assistant Professor of Finance.
Department of Management Dr Esma Koca Senior Teaching Fellow Prior to joining the faculty, Dr Koca completed her PhD in Operations Management at the Business School. She also hold a Master’s degree in Industrial Engineering. Dr Alex Ribeiro-Castro Data Scientist and Senior Teaching Fellow Joins from Imperial College London’s Department of Mathematics, where he was a Research Associate. Dr Reza Skandari Assistant Professor of Health Operations Management Joins from the Center for Translational and Policy Research of Chronic Diseases at the University of Chicago School of Medicine, where he was a Senior Research Analyst. He obtained his PhD in Management Science from the Sauder School of Business, University of British Columbia.
Department of Innovation & Entrepreneurship Dr Ying-Ying Hsieh Assistant Professor of Innovation and Entrepreneurship Prior to joining the Business School, Dr Hsieh completed her PhD in General Management at Ivey Business School. She was also a PhD Research Fellow at the Scotiabank Digital Banking Lab at Ivey.
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Research Imperial College Business School is renowned for its strong commitment to world-class research in innovation and entrepreneurship, management, finance, and healthcare economics.
The vision of Imperial College Business School is to benefit business and improve society through the power of innovative thinking, and our research activity over 2018 reflects this. In June, the STOP (Science and Technology in Childhood Obesity Policy) project, led by Professor Franco Sassi, Director of the Centre for Health Economics & Policy Innovation, was awarded a €10 million research grant to tackle the issue of childhood obesity in Europe. The project (which comprises a team from the Business School, Imperial’s School of Public Health and Department of Medicine, as well as members from international bodies including the World Health Organization) will examine the biological changes and behaviours that lead to obesity and how these are caused by the environments in which children live. It will also include a study in Sweden, Spain and Romania to test whether digital technologies can help very young obese children and their families (especially those from disadvantaged backgrounds) to achieve sustainable improvements in body weight. We were also delighted to be awarded €1.5 million of funding from the European Research Council for a four-year project (led by myself) researching the effect of the labour market on healthcare production. The research will inform the development of policies to increase the uptake and spread of medical innovations, increase the quality of the medical labour force, understand the 16
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substitution between different kinds of skilled workers, and improve the design of healthcare systems. As the School seeks to increase and deepen its academic capabilities, the Department of Finance was pleased to welcome three visiting professors: Professor Ailsa Röell, Professor Patrick Bolton, and Professor Paul Asquith. Professor Röell’s academic specialty is financial economics and the regulation of financial markets. Her research and teaching spans securities markets, corporate finance, and corporate governance. She is also the coauthor of Market Liquidity, a textbook on stock market microstructure. Professor Bolton’s areas of interest lie in contract theory and contracting issues in corporate finance and industrial organisation. A central focus of his work is the allocation of control and decision rights to contracting parties when long-term contracts are incomplete. Professor Asquith is a specialist in corporate finance and a media source for the field of corporate finance and control, including mergers, dividend policy, financial distress, and market efficiency. His recent research focuses on the impact of regulation on market volume and market volatility. Our newest research centre, the Centre for Health Economics & Policy Innovation expanded considerably over 2018, tripling its number of postdoctoral researchers. This illustrates our wider strategy at the Business School of increasing the research faculty across our academic areas. Another strand
“ We were also delighted to be awarded €1.5 million of funding from the European Research Council for a four-year project.” of the School strategy, which the Centre wholly supports, is to become an even stronger voice in key public policy areas. As an example of this, Dr Marisa Miraldo, Associate Professor in Health Economics, presented her research into the links between personality and eating habits at the World Economic Forum in Davos (pictured above). Interventions to make people eat better have generally been unsuccessful so far, and Dr Miraldo’s research investigated the relationship between a person’s behaviour type: for example, risk takers have poorer nutritional balance, while the more risk averse eat better. The research findings could lead to dietary interventions linked more closely to a person’s personality and behaviours, and help fight the rising tide of obesity. Our commitment to influencing business and society is further evidenced by two major policy roles that members of our faculty have undertaken. Professor Jonathan Haskel, Chair in Economics, was appointed as an external member of the Bank of England’s Monetary Policy Committee, which is responsible for setting the UK’s interest rates, and Professor Tomasso Valetti continues in his role as Chief
Research statistics
Faculty 40 Department of Management 32 Department of Finance 17 Department of Innovation & Entrepreneurship Total
Economist at the European Commission, where he provides independent guidance on economic issues in the application of EU competition rules. Fostering critical partnerships is another key area of strategy for the Business School, and the Centre for Climate Finance & Investment this year set out to do just that. In November, the Centre launched the 100% Disclosure Club in collaboration with the University of Dublin. The 100% Club aims to increase investor awareness of the inadequacy of current corporate reporting on greenhouse gas emissions. At the launch event, an award was presented to Aviva for its achievement in disclosing completely under the 100% Club methodology. We are proud of what we have achieved so far in support of the School strategy and we look forward to continuing to deliver world-class research and strengthening our commitment to working across academic boundaries to solve pressing world problems.
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Active grants 11 Department of Management 1 Department of Finance 1 Department of Innovation & Entrepreneurship Total
Total value
13 ÂŁ3.5m
Research outputs 155 Journal articles 8 Chapters 3 Conferences 2 Books 3 All other output types Total
171
Professor Carol Propper Associate Dean of Faculty and Research Imperial College Business School
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Research highlights
Tackling childhood obesity The STOP project (Science and Technology in Childhood Obesity Policy), led by Professor Sassi, along with researchers and policy makers from 16 countries is the largest research project funded to tackle obesity in children. Over the next four years, this European Commission-funded collaboration will propose alternative policy options to address this important societal issue. The project will also look at methods to make the food industry and other commercial players accountable for the products children consume and encourage them to produce innovative solutions to make children’s consumption healthier.
“This is a significant investment by the European Union to find the most successful and effective approaches to reduce the incidence of childhood obesity while helping children already suffering the disease to get the best support. I n the United Kingdom, one in 10 children is obese, one of the highest childhood obesity rates in Europe. If no effective action is taken, this wave of childhood obesity will lead to more than one in three adults aged 20 and over being obese in the UK by 2025. Projects like STOP can prevent this by identifying and promoting effective solutions to make children more resilient to the influences of an obesogenic environment.” Professor Franco Sassi Director of the Centre for Health Economic and Policy Innovation and Professor of International Health Policy and Economics
Professor Franco Sassi STOP project conference
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Department of Innovation & Entrepreneurship
Imperial College Learning and Teaching Strategy Fund
Dr Paola Criscuolo and Dr Anne ter Wal: Driving innovation in large companies
Innovation & Entrepreneurship Conversation 2018
Dr Harveen Chugh and Professor Markus Perkmann were awarded £94,000 for a project on pedagogic transformation of entrepreneurship coaching. The project will include a series of activities, over a two-year period, to transform the quality of effectiveness and entrepreneurship coaching within the Business School, Imperial’s Enterprise Lab and entrepreneurship teaching across the College.
Dr Paola Criscuolo and Dr Anne ter Wal continued their projects with a range of fast-moving consumer goods companies on the design of their innovation processes, and the training of their technical and managerial R&D staff. This work goes back to 2010 and includes over 70 interviews and large scale surveys. Findings from the research have been deployed widely throughout the organisations and the researchers continue to work with their partners to shape managerial and technological leadership using the research insights.
The fourth Innovation & Entrepreneurship Conversation was held on 9-10 July at the British Academy, with the theme “New Organizational Forms as Enablers of Innovation and Entrepreneurship”. This year the event was organised by the Department of Innovation & Entrepreneurship’s Dr Christian Hampel, Dr Jaemin Lee and Professor Mike Wright. The event showcased the Department’s research in this area and welcomed scholars from across Europe and the US for cutting edge debate, discussion and knowledge-sharing.
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Department of Finance
Department of Management
Dr Emiliano Pagnotta: Competing on speed
Dr Esther Bøler: Exporters and the gender wage gap
In their paper “Competing on Speed”, published in Econometrica (May 2018), Dr Emiliano Pagnotta (Assistant Professor of Finance, Imperial College Business School) and Professor Thomas Philippon (Professor of Finance, Stern School of Business) analysed speed and fragmentation in asset markets. According to the research, competition among venues increases investor participation, trading volume, and allocative efficiency, but entry and fragmentation can be excessive, and speeds are generically inefficient. Regulations that protect transaction prices lead to greater fragmentation.
In their paper “Working across time zones: Exporters and the gender wage gap”, published in the Journal of International Economics (March 2018), Dr Esther Bøler (Assistant Professor of Economics) and her co-authors argued that there is a systematic difference in the gender wage gap between exporting firms and non-exporters. Exporters may require greater commitment from their employees (such as working particular hours to communicate with partners in different time zones, or travelling at short notice) and may therefore disproportionately reward employee flexibility. If women are less flexible, or perceived as such, exporters will exhibit a higher gender wage gap than non-exporters.
Professor Franklin Allen: Government guarantees and financial stability Dr Paola Criscuolo and Dr Anne ter Wal
In their paper published in the Journal of Economic Theory (September 2018), Professor Franklin Allen (Professor of Finance and Economics and Executive Director of the Brevan Howard Centre for Financial Analysis) and his co-authors analysed the effect of government guarantees on the interconnection between banks’ liquidity creation and likelihood of runs in a globalgame model, where banks’ and depositors’ behaviour were endogenous and affected by the amount and form of guarantee.
Professor Tarun Ramadorai: Endowment Effects in the Field: Evidence from India’s IPO Lotteries In their paper for The Review of Economic Studies, Professor Tarun Ramadorai and his co-authors found evidence of an “endowment effect” for risky gambles which persists in samples of highly active stock investors. The evidence was found through a study of a unique field experiment in India in which 1.5 million stock investors faced lotteries for the random allocation of initial public offering shares.
Professor Carol Propper elected to the National Academy of Medicine Professor Carol Propper (Associate Dean of Faculty and Research) was made an International Fellow of the National Academy of Medicine (NAM). The NAM, a prestigious US body, recognises individuals who have made major contributions to the advancement of the medical sciences, healthcare, and public health. Membership of the NAM is considered one of the highest honours for professionals working in the fields of health and medicine. New members are elected through a process that recognises individuals who have made major contributions to the advancement of the medical sciences, healthcare, and public health.
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Doctoral awards
Being a part of the Business School’s research community is a crucial experience for our doctoral students; they are expected to make a positive contribution to our research ethos and take advantage of the wealth of development opportunities on offer.
Yu Zheng Department of Finance Machine Learning and Option Implied Information Supervised by Professor Alexander Michaelides Doctorate awarded February 2018 Ruxandra Luca Department of Management The Role of Visual Attention in Product Selection Supervised by Dr Mirjam Tuk and Professor Andreas B. Eisingerich Doctorate awarded February 2018 Darcie Dixon Departments of Management and Innovation & Entrepreneurship Self-Signalling in Consumer Choice: Conceptual Underpinnings and Empirical Evidence Supervised by Dr Sven Mikolon, Dr Johannes Hattula and Professor Erkko Autio Doctorate awarded March 2018 Edward Golosov Department of Finance The Term Structure of Risk Premia with Heterogeneous Preferences and Beliefs Supervised by Dr Harjoat Bhamra and Professor Walter Distaso Doctorate awarded May 2018 Armando Martins Brelaz de Castro Department of Management Essays on the Oil and Gas Industry in Brazil: Institutional Deviances in Petrobras Supervised by Dr Namrata Malhotra and Professor Nelson Phillips Doctorate awarded May 2018
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Tianyu Wang Department of Finance Essays in Empirical Asset Pricing
Daren Wei Department of Finance Macro-Prudential Policy and Asset Pricing
Supervised by Dr Robert Kosowski, Dr Pasquale Della Corte and Professor Marcin Kacperczyk Doctorate awarded May 2018
Supervised by Dr Harjoat Bhamra, Professor Paolo Zaffaroni and Dr Enrico Biffis Doctorate awarded September 2018
Maria Gradillas Department of Innovation & Entrepreneurship The Role of Collaboration in Emerging Industries: The Case of Smart Grids in the UK Supervised by Dr Aija Leiponen, Dr Ilze Kivleniece and Professor Markus Perkmann Doctorate awarded August 2018
Davide Benedetti Department of Finance Essays on Corporate Risk Management and Insurance
Lin Dong Department of Management Organizing Processes in a Shadow Institutional Field Supervised by Professor Andreas B. Eisingerich and Dr Omar Merlo Doctorate awarded December 2018 Esma Koca Department of Management Product Release Strategies in the Digital Economy
Supervised by Dr Enrico Biffis and Dr Mario Ghossoub Doctorate awarded November 2018
Supervised by Professor Tommaso Valletti and Dr Wolfram Wiesemann Doctorate awarded December 2018
Yuting Lin Department of Management The Effects of Hope and Anxiety in Driving Consumer Intentions to Adopt New Product Solutions
Sophia Lu Department of Innovation & Entrepreneurship Audience Recognition: The Determinants of Academics – Media Impact
Supervised by Professor Andreas B. Eisingerich and Dr Mirjam Tuk Doctorate awarded November 2018
Supervised by Dr Anne ter Wal and Professor Markus Perkmann Doctorate awarded December 2018
Surya Singh Department of Management Integrating Motherhood and Employment: The Role of Breastfeeding Legislation
Paola Boscolo Chio Bisto Department of Management Revisiting the Innovation Journey. Organisational, Technology and Policy Perspectives on Complex Innovations
Xuchang Zheng Department of Management Intention and Competence for Trust Development and Deterioration
Supervised by Dr Marisa Miraldo and Dr Katharina Hauck Doctorate awarded August 2018
Supervised by Professor James Barlow and Professor Nelson Phillips Doctorate awarded December 2018
Gender
Student nationality by region
Rossella Salandra Department of Innovation & Entrepreneurship The Firms’ Strategic Behaviour in Shaping Science in the Context of Evidence Creation and Dissemination in Pharma Supervised by Dr Paola Criscuolo and Professor Ammon Salter Doctorate awarded by August 2018
42% Male
Supervised by Dr Sankalp Chaturvedi and Dr Jonathan Pinto Doctorate awarded December 2018
4
5
26
8
29
Americas
UK
Europe (excl. UK)
Africa/ Middle East
Asia/ Pacific
58% Female
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Postgraduate programmes As part of a world-leading STEM university, we are uniquely positioned to shape the future of business education in a technology-driven world. Our students embody our commitment to leadership, technology and innovation. Our academic and professional teams bring the diversity of perspectives and skills required to deliver this transformational experience.
This has been an extremely exciting year for us. As part of our commitment to leading in a technology-driven world, we are developing a new marketing, recruitment and admissions strategy. We attract top candidates from all over the world, and want to continue to deliver an innovative, digitally shaped and studentcentric experience that showcases our strengths and increases our global impact. We have organised our broad programme portfolio into four major suites: MBA, Management, Finance and Specialised. We have begun to expand our preexperience and online offering, with the very successful launch of our MSc in Business Analytics (Online) and the launch of two new, cutting-edge programmes (MSc Financial Technology and MSc International Management), which will welcome their first cohorts in September 2019. Our programmes embody the School’s strategic engagement themes: the economics and finance of climate change; digital transformation; financial and institutional resilience; healthcare management and policy; and sustainable growth and social responsibility. Our multidisciplinary, cross-generational offering will foster today’s entrepreneurs and executives, providing them with future-fit leadership skills.
Our award-winning, pioneering Edtech Lab keeps breaking barriers and defining the future of management education. AI-led projects, holograms in global masterclasses, and the Future of Management Education Alliance with 10 other international business schools (which aims to define the “blended learning” market and create an online-based exchange programme) were just some of our initiatives this year. Our leadership in digital programmes will become an even stronger anchor for our programme suites, as we expand in purpose and continue to push innovation across the board. Diversity, leadership and global impact have been, once again, high on our list this year. Over the next 10 pages you will read about our new leadership framework, a new international careers strategy, and our various initiatives to support diversity. Our ambitious goals and commitment to innovation bring exciting changes. It is thanks to our outstanding teams that we can make all of this happen.
Leila Guerra Associate Dean of Programmes
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Admissions Studying at Imperial College Business School is a transformational experience that shapes graduates and professionals into confident business leaders in a technology-driven world.
In 2018 we welcomed 2,016 students representing 114 nationalities to the School – once more breaking our existing record for the highest level of international diversity we have ever seen in our student community. As a global business school, it’s vital for us to keep expanding our reach to bring new perspectives into our classroom to enrich the learning experience. We’re delighted with the continued success and growth of our online programmes, with our first class of MSc Business Analytics (online delivery, part-time) students commencing in October. Since the launch of our Global Online MBA in 2015, our innovative online learning platform and delivery has helped us to reach even more of the brightest and best candidates across the world, and we are proud to have been ranked third in the world in the QS Distance Online MBA 2018 rankings. Once again, our Full-Time MBA has achieved impressive gender diversity, with 45 per cent women in this year’s class – placing us in the top five for female representation among topranked schools. We are pleased to reaffirm our commitment to gender parity and support
of women in leadership across all of our programmes, and will continue this important work through various diversity initiatives both within the School and with external partnerships with Forté and the 30% Club. As the School grows its programme portfolio to prepare students for the future needs of employers, we are excited to launch MSc Financial Technology and MSc International Management, which are both now recruiting for students to commence in September 2019. Our cutting-edge new content and international opportunities will differentiate our students as they kick-start dynamic careers in business, finance and innovation.
Crystal Grant Director of Admissions
“ For me, the Full-Time MBA is not the typical MBA. It is focused on experiential learning, and at Imperial they have this out-of-the-box thinking criteria: be different, take chances. This is the only programme I saw that offers design thinking and innovative problem solving as core subjects. I love it because I come from a very creative environment and I want to keep being creative. I believe this university is the perfect platform for me to learn all those things.” Michael Stewart Full-Time MBA 2019 26
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Programmes at a glance
2,016 114
Total number of students
Nationalities represented
Number of students on each programme MBA programmes 314 Global MBA (first and second year students) 162 Weekend MBA (first and second year students) 73
Full-Time MBA
73 Executive MBA (first and second year students)
Finance Masters’ 175 MSc Finance & Accounting 159 MSc Risk Management & Financial Engineering 88 MSc Investment & Wealth Management 77 MSc Finance
Management Masters’ 194 MSc Strategic Marketing 166 MSc Economics & Strategy for Business 149 MSc Management
Specialised Masters’ 149 MSc Business Analytics (on-campus and online formats) 96 MSc Innovation, Entrepreneurship & Management 72 MSc International Health Management 69 MSc Climate Change, Management & Finance
“I chose Imperial because of its focus on innovation and a demonstrated philosophy that business can and should be about doing well and doing good. As a social sector professional, profit isn’t the focus, however there is still a strong argument to employ strong business principles. Imperial understands that and made someone outside the traditional business sectors feel welcome and valued.” Amy Callis Global Online MBA 2020
Imperial College Business School
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Leadership Framework As part of our strategy to strengthen our learning and teaching, we have created a new leadership framework that further develops the much-sought skills and attributes graduates require to be futureready and accelerate their professional success.
For success as a leader in today’s technologydriven world, the knowledge developed through a postgraduate business degree is a critically important. However, to maximise that success, it is equally important to invest in the development of a series of soft skills that will enable graduates to increase their impact on their teams and their respective organisations. Our framework reflects the three main career stages our programmes cater to: 1
2
3
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The skills our pre-experience master’s graduates should be able to demonstrate as they prepare for their first job and go on to lead a team.
Each framework divides skills into: Individual Those skills relating to the individual graduate. Team The skills necessary to deliver through others. Organisation The skills that will enable our graduates to be most effective in their workplace. Skills for a technology-driven world To enable our graduates to deliver on our mission and future-proof their careers.
Successful candidates to our programmes not only have an excellent academic record and strong work experience (if applicable), but have demonstrated the required leadership skills and can further develop them during their programmes via this framework, as well as through other extracurricular opportunities. The impact of this initiative expands to our online programmes. The first set of modules (Team Skills, Storytelling, and Skills for a TechnologyDriven Age) will be delivered to our Executive MBA students later this academic year, and will be integrated with other programmes, and through our alumni network.
An advanced level of skills for our MBA graduates as they go from team leader to leading multiple teams across functions. The highly developed skills we expect our most senior graduates – our Executive MBAs – to exhibit as they prepare for the C-suite.
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Fiona Sandford Director of Strategic Projects
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Enhancing the student experience We work with our students to develop a range of opportunities through which they can create the type of experience they want at the Business School.
This was a highly successful year for student experience in the Business School. In the summer, we were proud to reach our goal of securing long-term funding from the School for What the Tech?!, our award-winning volunteer programme initiated by the Dean’s Student Advisory Council in 2017. What the Tech?! offers weekly drop-in sessions at Edward Woods Community Centre (located near our White City campus) for elderly residents in the community to help them with their technology needs and reduce isolation levels within their age group.
A College-wide rollout of the model is currently being piloted and we look forward to seeing it grow in the future. In October, we opened the new academic year with our third annual Welcome Event held at the Natural History Museum. The reception was attended by a record 1,403 students, who were enthused by the opportunity to mingle with each other. During their first month on campus, students also got to take part in a startup weekend delivered in collaboration with Imperial’s Enterprise Lab – a new addition to our calendar of events that we hope to continue running in the future. Honouring our legacy as a business school renowned for its expertise in innovation, attendees of the Women in Tech event were among the first university students in the world to receive a lecture via hologram, with speakers beamed in from Los Angeles and New York (see page 45). We had a fantastic turnout at our student leadership day, held in November. The event provided our student leaders (a group that comprises ambassadors, club presidents,
276
Student leadership positions filled
300
Volunteer hours for What the Tech?! in 2018
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and members of each programme’s Student-Staff Committee) a chance to plan and present their activities for the academic year, and to focus on their own professional development during specialised workshops in the afternoon. We plan to offer more workshops every term with different themes, to thank the leaders in our student community for their hard work and commitment. The implementation of unified and regular training sessions also led to great progress in the strategic alignment of student clubs, while our Clubs Fair (held for the first time in 2018) gave each of them an opportunity to introduce their work and recruit new members.
Julia McShane Student Experience Manager
“ Imperial College Business School is a diverse and thriving student community, shaped by students and staff together. Working and learning alongside world-class educators, students can explore and develop a variety of skills through the amazing array of opportunities available. These skills support our students in having a positive impact on the world around them.” Alex Compton Chair of the Dean’s Student Advisory Council
Diversity initiatives We aim to be a world-leading business school with a diverse, engaged and supportive research and learning environment. Our diversity framework outlines the initiatives we have taken in support of our aim.
Gender equality
Staff engagement
Global initiatives
The School is a formal sponsor of the Forté Foundation, which aims to attract the best female candidates to graduate management education and future leadership roles.
The Diversity Committee is embedded in the staff community and contributes to diversityrelated awareness events across the College.
Global Experiences Weeks, Global Skills Development programmes, and “Glocal” Electives offer students first-hand experience of international business.
Women in Finance initiatives, such as speaker events and informational sessions, are offered across the School. I n our commitment to gender and equality, our Diversity Committee Chair sits on our Management Board. The School has a partnership with the 30% Club and is monitoring boards and committees to ensure at least 30 per cent of members are female.
Gender across all programmes
48% Female
In 2018, 146 Business School staff members attended Active Bystander and Unconscious Bias training. We work closely with College HR to identify and address any pay inequalities.
Student clubs We have Business School Career Clubs encompassing students from Africa, Asia, India, and North and Latin America. In 2018, the LGBTQ+ Student and Alumni Careers Club was formed.
Intensive study-abroad programmes and accredited workshops develop our students’ overall cultural intelligence and educational skills. We have partnerships with Abu Dhabi School of Management and BML Munjal University, which diversify and strengthen our global business network.
Awards The School was awarded the Athena SWAN Bronze award in 2016, recognising our continuing support for women.
Student nationality by region
168 354
573
139
782
Americas
Europe (excl. UK)
Africa/ Middle East
Asia/ Pacific
UK
52% Male
Imperial College Business School
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Careers Over 2018, following significant changes to Careers, including the introduction of industry sector specialist teams, we delivered over 350 sector workshops and events.
We have widened engagement activities with international employers, both on campus and via virtual events, and we continue to see our students gain employment at a range of top companies (see opposite). The introduction of an online Careers onboarding process, including an online careers module and CV writing support, enabled us to focus on more practical careers support in the autumn term: we saw a 14 per cent increase in one-to-one appointments in the first two months of the academic year. We were delighted to see these initiatives contribute to an 11 per cent increase in the number of Full-Time MBA students employed at three months postprogramme in 2018. We have reviewed our Careers Clubs and aligned them to our industry sectors, helping employers to engage with the most suitable students. Our new annual Clubs Fair held early in the autumn term is a great opportunity for the Clubs to communicate the substantial programmes of activity they have planned for students across the academic year and to attract members. The Technology Media & Telecoms Club, for example, have hosted a CEO speaker series and welcomed several influential speakers to campus. Building on our consolidated Careers offering, we are now focusing on two key areas: our Alumni Careers support and International Careers Strategy. We are keen to assist our students not just to get a job upon graduation but also to continue to progress successfully in their chosen career. We have therefore reviewed our offering to alumni who are now entitled to five one-to-one appointments per year for their first five years post-graduation, and two per year after that. We are also trialling an online group executive coaching offering to support alumni career development.
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Many of our students are interested in an international career, whether that be in their home country or a location outside the UK, and a substantial proportion of our alumni are based internationally. We are therefore rolling out an International Careers Strategy to support their interests. A number of priority regions have been identified, including areas of Asia Pacific (APAC) and Europe, where we are focusing on building our employer networks. We have made a good start: in APAC we have increased attendance at our China Careers Fairs (Mainland & Hong Kong) and have made visits to China and Singapore to both engage with alumni and increase our employer relations in the region. Companies we visited in the area last year included Google, DBS Bank, Baidu, China Construction Bank, and Alibaba. We have already seen an increase in our on-campus engagement with APAC-based companies including HSBC Asia, KPMG China, and Citibank Asia Pacific. Finally, we have engaged a new China-based Careers Consultant to meet the needs of both incoming students and alumni in the region, and to support our employer relations initiatives. Our focus is on increasing the careers success of our students and alumni. If you are an alumnus who would like to benefit from our enhanced Careers offering, or if you would like to support our International Careers Strategy, please do get in touch with me.
Lisa Umenyiora Executive Director of Careers l.umenyiora@imperial.ac.uk WeChat: LisaUmenyiora
Our students have gone on to work for some of the world’s top employers:
Employer relations Our Employer Relations team work with businesses to increase the profile and employability of students. At the same time, they work with corporate partners to support their needs, tailoring their recruitment strategy towards the relevant programmes, facilitating recruitment activities, both on and off campus, and filling employers, skills gaps. We’re delighted to work with international companies, particularly those in China, looking to recruit exceptional students from the Business School to join their graduate programmes. Mars China runs campus recruitment events to target Chinese graduates at Imperial College Business School because of the impressive reputation the School has gained internationally. In 2018, four graduates were offered places on the Mars Leadership Experience Programme. In addition, we have forged a strong relationship with KPMG China, supporting their campaigns each year to recruit students to their graduate programme across three service lines: audit, tax and advisory. We look forward to continuing our relationship with these two organisations in 2019.
“ It’s our great pleasure to collaborate with Careers at Imperial College Business School. I am very impressed by the quality of the students at our promotion events and campus recruitment. We do look forward to a closer relationship with Imperial College in 2019.” Joyce Wan Mars China Employer Reputation Lead
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Empowering entrepreneurs A particular strength of Imperial College Business School is our support for entrepreneurs. The Financial Times ranked our Full-Time MBA seventh in Europe for those looking to pursue an entrepreneurial career. What’s more, we encourage successful entrepreneurship: of companies set up by our alumni, 90 per cent of those surveyed were still operating after at least three years.
Rankings
12
Financial Times Full-Time MBA for Entrepreneurship World
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7
Financial Times Full-Time MBA for Entrepreneurship Europe
5
Financial Times Full-Time MBA for Entrepreneurship UK
To further strengthen our culture of empowering and supporting entrepreneurs, we have provided a wide spectrum of opportunities to prepare our students for their journeys towards successful entrepreneurial and innovative careers.
Preparing your journey
Innovation and entrepreneurship at Imperial
Entrepreneurial alumni
Events –– Admission days: entrepreneurship taster lecture –– Startup Saturday: showcase of innovation at Imperial
Enterprise Lab –– Pitch’n’mix –– Idea Challenge & Marketplace –– Innovation Pitch –– Imperial Venture Mentor Service
White City –– I-HUB –– Invention Rooms –– Scale Space with Blenheim Chalcot
Networks and contacts –– Recruitment team –– Alumni –– Student ambassadors
Internal competitions –– WE Innovate –– Venture Catalyst Challenge –– Imperial Business Pitch –– Ideas to Impact Challenge
London networks linked to Imperial –– Rocketspace: coworking accelerator with Natwest –– Founders of the Future: community of future founders More information –– Website: Imperial College Business School and Imperial Enterprise Lab –– Materials: brochures and booklets Student programme suites –– MBA –– Management Master’s –– Finance Master’s –– Specialised Master’s
External competitions –– Natwest Innovator Programme at White City –– Nespresso Sustainability Challenge: a case study competition
IB Alumni Founders’ Gathering Enterprise Lab Workspace Investor Network –– Access to Imperial’s angel network
LaunchPad Weekend
Humanising Autonomy Founders: Maya Pindeus, Leslie Nooteboom and Raunaw Bose Human-centred AI: developing natural interactions between autonomous systems and people.
Student-led initiatives –– MBA Connect –– Innovation & Entrepreneurship Club –– Student Investment Fund
Trik Founder: Pae Natwilai Drone mapping and 3D reporting software for structural inspection.
White City –– Advanced Hackspace
TRACK Founders: Byron McCaughey and Henry Oakes A free app improving the way homeowners experience the finances related to their properties.
Startup internships
50
Startups founded at Imperial in 2018
£100m Raised by Imperial startups in 2018
81%
Three-year survival rate, compared with 50 per cent London average Figures refer to Imperial College London as a whole.
Imperial College Business School
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Undergraduate programmes Imperial College Business School offers internationally recognised undergraduate programmes for students from Imperial College London and other institutions.
We continue to build on our success in delivering high-quality management and business education to engineers and scientists across Imperial College London. Our Business for Professionals of Engineering and Science programme saw us deliver seven subjects to nearly 2,000 Imperial students from 14 departments. We engaged over 900 of these students in our online programmes, which were launched three years ago with fewer than 100 students. In recognition of our work, the programme was shortlisted for the QS Reimagine Education prize in the e-learning category. Outside the UK, institutions are recognising our expertise and innovative delivery of immersion programmes. The Universidad de Navarra, a leading university in Spain, held its first two-week Entrepreneurship Immersion programme at the Business School. Students
from their Economics & Leadership and Governance programme gained valuable insights into entrepreneurship and innovation from experts at the School and entrepreneurs from the wider entrepreneurial ecosystem. The success of the immersion programme has resulted in it becoming a permanent fixture on the Universidad de Navarra’s Economics & Leadership and Governance degree programme.
Undergraduate student numbers
80
Students on the Intercalated BSc, a challenging and innovative oneyear programme in management for UK medical students.
34
Joint Honours students: a one-year programme that offers Imperial’s science students the opportunity to graduate with a qualification in management.
Dr Edgar Meyer Associate Dean of Undergraduate Programmes and Education Quality
259
Students on the Summer School programme. With five courses spread over two sessions and a varied social programme, this is a fantastic taster of life at Imperial.
1,863
Students on the Business for Professionals of Engineering and Science programme, drawn from 14 departments across the College. We offer seven modules, some of which are delivered online.
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Our students get noticed In 2018, many of our undergraduate students made their mark both nationally and internationally. Seven students from our Joint Honours and Intercalated BSc programmes organised and ran a student-led conference entitled Delivering Healthcare in the 21st Century: Innovation, Entrepreneurship and the NHS. With speakers including National Health Service (NHS) policymakers, venture capital investors, and health consultants, the benefits and challenges of encouraging entrepreneurship in the NHS were explored in open and unbiased panel discussions. A resounding success, the conference resulted in the students winning the Dean’s Community Award for Inspiring Brilliant Minds.
We were also delighted and proud when our students took the opportunity to represent us and carry our mission across the world. Two medical students, Louis Agha-Mir-Salim and Marta Lewandowska, represented the Business School at the MIT Hacking Medicine Grand Hack in Boston, one of the largest healthcare hackathons in the world. There, participants attacked healthcare challenges using diverse and interdisciplinary approaches. Another of our Intercalated BSc students, Fatima Ali, represented us at the inaugural 2018 United Nations Emerging Leaders’ Peace Summit in Bangkok. The summit featured talks, networking sessions, and opportunities to formulate and share innovative ideas concerning the promotion of peace and justice.
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Executive Education This has been a year of new programmes, new people and the start of a new strategy.
In 2018, Executive Education launched the open programme AI and Machine Learning in Financial Services, and delivered an array of programmes spanning industries including finance, innovation, health, management and leadership. In custom programmes, we delivered a large-scale programme to help one of the great cities of the world introduce and plan for a transformed future. This drew on expertise from all College faculties and several of our institutes. Clients often want scale, speed, low cost and high quality. For one leading global services company, we partnered with the School’s Edtech Lab to deliver a wholly online programme that still felt deeply personal and collaborative. We envisage delivering more programmes like this for companies going forward. We’ve had several new joiners (I was delighted to join Imperial from another business school across the park) and over 75 per cent of the team is either new or in new roles. This has enabled us to pursue a new strategy with speed and some early successes.
Our focus for 2019 and beyond will be: –– Client or business problems (or opportunities) that are often related to technology, and require multiple inputs –– Becoming a learning partner that can integrate different disciplines –– World-class thought leadership and a culture of innovation and entrepreneurship, and intrapreneurship –– Experiential learning, leveraging our unique offering of business education coupled with multiple other world-leading museums, institutions and societies right on our doorstep –– Expanding our leading edtech capability –– Delivering solutions with impact This strategy is an opportunity to work with partners and participants in new ways. The early signs are that this is something many organisations and participants are looking for and we are well placed to deliver.
Executive Education is well positioned for success when we focus on the right projects with the right clients and participants.
David Brown Director of Executive Education
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Imperial Business in the City As part of our Imperial Business in the City series, we ran three events that saw Business School faculty speak alongside industry leaders. They gave holistic analysis of burning topics in the corporate world, including artificial intelligence, robo-financial advising, connected health, innovation and corporate culture. The events were met with great enthusiasm from middle and senior-level managers, with an average of 180 registrants for each. With each event held in a central City location, we attracted a diverse and high-profile audience that allowed us to foster and grow exciting partnerships. Due to the success of these events, we will be expanding our event portfolio in 2019. Over the coming months, we will work with other areas of the School to supplement these with Imperial Business Breakfasts. These will be an opportunity for executives to explore topics in more depth with faculty, practitioners and peers.
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Clients by sector and region
Open programmes The open programme portfolio is continuing to expand to meet market demand for innovative short courses for working professionals, while also showcasing the unique expertise Imperial College London can offer learning organisations. After three years of course programme development and marketing activity, 2018 saw us run 16 programmes across innovation, finance, marketing, technology, leadership and health. A key success of 2018 was developing the AI and Machine Learning in Financial Services programme, which ran in February 2019. The programme builds a strong foundation in AI, big data and machine learning, and explores their applications in financial services and risk management.
Programme topics
Open clients by region
AI and machine learning Cybersecurity Digital transformation Finance Fintech Health Innovation and intrapreneurship Leadership and technology Marketing Risk management Strategy
To raise the profile of Executive Education and our faculty expertise, we launched a series of events and webinars, and distributed unique thought leadership content. These allowed us to engage with over 6,000 business leaders as well as HR executives in the learning and development sector.
“ Twelve months have passed since I engaged in the course and I still feel the benefits. The programme provided in-depth insight, knowledge and discussions around a diverse set of 21st century leadership challenges and opportunities we face – whatever our business or sector. The quality of input was superb and the knowledge exchange with peers also very beneficial.”
49% UK 20% Europe 13% Middle East 7% Asia-Pacific 6% Americas 5% Africa
Open clients by sector
Kirstie Donnelly MBE City & Guilds
“ This professionally run course for executives provided the perfect combination of two critical services: ‘leadership’ (emotional intelligence) and ‘technology’ (digital intelligence). For me the value-add was the course examples and techniques I have used within my company. The course provides the perfect balance between industry knowledge and academia.” Russell Pilgrim Jacobs 40
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37% Professional services 17% Marketing/consulting 11% IT/telecommunications 10% Healthcare 9% Engineering/construction 8% Public sector 8% Other
Custom programmes This year saw a shift in strategic direction to focus on custom programmes at scale. This was evidenced by two significant wins. The first, a large global bank for whom we were appointed to design and deliver a programme to build the bank’s succession pipeline for enterprise leadership roles. Delivery is global with modules in the UK and Hong Kong for a population of several hundred. The second is one of the UK’s largest energy suppliers, for whom we have designed a digital and face-to-face programme for 200 senior leaders.
Custom client industries
Custom clients by region
Consulting Electronics Engineering/construction Finance Healthcare Hospitality Industry associations Public sector
Our geographical focus has expanded to include Asia, specifically China, where we increased our delivery in the region and won several new clients in the construction industry. Our reputation as leaders in digital transformation has grown from strength to strength, specifically with clients needing help understanding how the fourth industrial revolution is disrupting markets, strategies and business models.
60% UK 15% Europe 10% Asia 10% Middle East 5% Americas
“The Imperial College Executive Education programme delivers tangible improvements in individuals’ performance, clearly contributing to improving organisational effectiveness. This has been outstanding.” Dorothy Griffiths National Health Service
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External relations The strategic goal of Imperial College Business School, to be a leader in a technology-driven world, is bold and ambitious, but achievable.
My appointment as Associate Dean of External Relations builds on the role I undertook in developing the School strategy and also oversees and aligns Institutional Marketing & Communications, Advancement and Corporate Partnerships to form a more unified approach to external communications. We have already invested in campaigns to raise the profile of the School and establish a strong, recognisable brand as a unique and innovative institution in a crowded market. However, to further align with our new strategy we have begun to invest more in the way we communicate and engage with our audiences. As digital is the primary channel for communication, whether web or social media, it made sense to incorporate our web team into our Institutional Marketing & Communications function. This change led to the launch of a project to improve the user experience of the Business School’s website, as well as improve communication with our audiences around the world. This project (outlined further on page 45) will also serve as a pilot for Imperial College London as it considers the future development of the College website. Alignment with other teams across the School has been key to strengthening how we work. We have developed stronger links with Careers and Executive Education, establishing the former as a distinct subbrand of Imperial College Business School. This not only streamlines communications across the School, but also supports both teams in communicating their activities and initiatives to their main stakeholders.
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Our third annual conference – our largest to date and a huge success – helped to establish new corporate partnerships (see page opposite), while we strengthened relations with the UK’s central bank when we welcomed Monetary Policy Committee member Dr Gertjan Vlieghe as the keynote speaker at an exclusive event in August. Also supporting our wider PR and communications efforts is our thought leadership platform, IB Knowledge. Designed to host and promote articles from our faculty on topics from voter turnout to the Spanish Flu, IB Knowledge has proved to be an ideal channel to reach, inform and challenge business leaders. Over 2018, the platform attracted over 136,000 views, demonstrating the appetite for this type of content among our network and beyond. We are pleased with the direction our external relations strategy is taking, and we are working hard to continue to establish our brand in a way that positions Imperial College Business School’s faculty not only as leaders in a technology-driven world, but also as people who know what the future holds for business.
Professor Nelson Phillips Associate Dean of External Relations
Annual Conference 2018: The Future of Finance “The Future of Finance” was the theme of the third annual Imperial College Business School conference. An exclusive invitation-only event, the conference, led by the Department of Finance’s Professor Franklin Allen and Professor Andrea Buraschi, brought together an impressive array of business heads, policy planners and senior finance academics to explore future global challenges and opportunities in the finance sector, and their likely effect on policy and practice. Also in attendance were journalists from Bloomberg, Business Insider, Channel 4 News and City AM. The conference featured our most highprofile guest speakers to date, including keynote speakers Professor Muhammad Yunus (Nobel laureate and microfinance pioneer) and António Horta-Osório (CEO of Lloyds Banking Group). Through an engaging series of panel discussions and talks, major themes affecting and influencing the financial services industry (such as cryptocurrencies, inequality and development) were covered.
Mr Horta-Osório spoke of how technology was transforming the ways in which banks meet the needs of individuals and businesses. He also talked about the need for banks of the future to be inclusive and “always look after the needs of the vulnerable”. Professor Yunus challenged financial institutions to pursue social objectives as well as shareholder value to improve access to credit and catalyse entrepreneurship: “Credit should be accepted as a human right... if you connect people with finance, they become alive and productive”. In his closing remarks, Professor Francisco Veloso, Dean of Imperial College Business School, said: “From cryptocurrencies and social business to digital transformation and regulation, the financial industry is undergoing fundamental change. Our conference was a unique opportunity to learn, reflect and reimagine a fundamental area of business and society, while showcasing Imperial’s intellectual leadership.”
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Imperial Business Attracting and engaging new audiences is an important aspect of external relations, but the importance of engagement with our current audience cannot be underestimated. With a view to building a stronger community and reinforcing our brand, we took the decision to send the 2017/18 edition of the School magazine, Imperial Business, to our entire alumni network – over 14,000 people. In addition, we ensured copies were made available at recruitment fairs, alumni events, conferences, board meetings and around the School. This provided us with a great opportunity to showcase the success of our alumni, faculty, staff and students to a much wider audience. The decision paid off as the magazine received an overwhelmingly positive reception and the virtual edition was read over 2,000 times – a 165 per cent increase on the 2016 issue.
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World’s first hologram lecture
Website redevelopment
One of our proudest achievements this year was the coverage for the world’s first lecture delivered via hologram, at the Women in Tech event in October. The use of pioneering hologram technology to deliver lectures is part of the School’s strategy to create a “new approach to programme design and delivery”.
We are set to launch a brand new website for an improved user experience.
The event generated over 200 pieces of coverage – the highest volume of coverage ever seen at the Business School. The coverage led to new relationships with leading broadcast and tech media, and raised the profile of the Dean, as well as the work of the Edtech Lab.
The website will undergo a complete redesign, with a new contemporary look and feel that truly reflects our brand positioning – a fusion of business and technology – as well as fresh areas of content to create an improved user experience. The redesign represents an increased investment in digital technology and collaboration with ICT to address legacy issues within the old site, and enhance our digital presence. Running alongside this is a web roadmap project to deliver exciting new features and functions to tie in with our digital strategy. This web project follows a technical review that established a solid foundation from which to launch future developments. The most significant is the change in infrastructure from WordPress to Drupal: this will enable improved security and scalability, with lighter and better optimised code and better systems integration.
136,611
200+
Total IB Knowledge page views in 2018
Items of press coverage for the School’s hologram launch event
14,000 Print run of Imperial Business
Imperial College Business School
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Alumni connections This was an exciting year for the Alumni Relations team. We launched our global outreach tour to share the Business School’s new 2018 – 2028 Strategy and develop stronger relationships with our alumni around the world.
Led by Dean Francisco Veloso, we visited over 10 countries and met alumni from across the College and Business School to celebrate their successes and connections to Imperial. The MSc Finance programme marked its 20th anniversary with an event at the London Stock Exchange, with Governor of the Bank of England Dr Mark Carney in attendance. We welcomed back a record number of alumni for reunions and held our most successful Annual Alumni Celebration at the Science Museum in South Kensington. Our team has increased its engagement with students to identify the next generation of alumni leaders. We recognise the need to build an alumni community as part of the student experience and encourage lifelong relationships while students are studying here. Next year we plan to launch an Alumni Ambassador programme to transition our student leaders to alumni leaders. These ambassadors will volunteer their time and support our initiatives in the UK and internationally. Imperial College London’s launch of its new online alumni community, Plexus, allows alumni to connect with each other anywhere in the world. Alumni can post jobs, share their professional expertise, and keep up to date with the College’s and Business School’s news, events and research. Over 9,700 alumni have already joined. Our Professional Interest Networks continue to thrive and give like-minded alumni a place to discuss the issues that are most important to them. The Imperial Women’s Network committee expanded to include College alumni and has held a range of topical events in partnership with Oracle and Deloitte.
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Professional Interest Networks were also set up on the topics of fintech, entrepreneurship and health. As in every year, the Business School’s alumni volunteers contributed significant time to ensuring our success. Over 650 volunteers gave 3,000 hours to support activities like student recruitment, student employability, serving as Alumni Advisory Board members, and leading regional groups. We continue to grow our volunteer community and welcome alumni from all programmes, years, and levels of experience. Our team is committed to ensuring alumni have the best possible experience and to providing them with the most relevant opportunities. We have made it a priority to work with both the College and the Business School to give alumni access to the best benefits, the most accomplished and diverse networks, and to support them throughout their lifetime. We want to hear from any alumni who have suggestions to improve our programming and outreach efforts. Alumni are the School’s best advocates and champions. I look forward to more successes in 2019.
Erin Hallett Head of Alumni Relations alumni-business@imperial.ac.uk
18,514
124
Total number of alumni
Total number of countries with alumni living/working
659
3,036
Number of alumni who volunteered in 2018
Number of hours alumni volunteers contributed in 2018
Number and percentage of alumni on each continent UK
9,111 alumni 49% Americas
Europe excl. UK
Asia
796 alumni 4%
2,153 alumni 12%
5,262 alumni 28%
Africa/Middle East
1,027 alumni 6%
Australia and New Zealand
165 alumni 1%
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Alumni Advisory Board Established in 2004, the Alumni Advisory Board communicates alumni views and interests to the Business School. The Board advises on and supports the creation of services for alumni and champions the School and its goals. The Board is made up of 20 alumni from across programmes, graduating years and professions. Over the last year, the Board has been involved in discussions on the Business School’s new 2018 – 2028 Strategy, the “What the Future” marketing campaign, and Careers. Many of the Board have also given their time to student career panels, writing alumni blog posts, attending student and alumni networking events, and supporting our drive to engage our alumni community.
Joanne Linder (Co-Chair)* Owner, SmartPitch and Worksite Technology Full-Time MBA 1996
Yann Helle Managing Director, 2H Offshore Weekend Executive MBA 2010
Heather Mack Management Consultant, KPMG Weekend Executive MBA 2017
Haris Sitzoglou Director, Credit Agricole CIB MSc Risk Management & Financial Engineering 2008
* Professor Francisco Veloso, Dean of Imperial College Business School is the fellow Co-Chair of the Alumni Advisory Board.
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Troy Ballesteros Senior Product Manager, Oracle Cloud Infrastructure Weekend Executive MBA 2015
Anjalika Bardalai Chief Economist and Head of Research, TheCityUK Weekend Executive MBA 2014
Elynor Chiu Managing Director, EC Consulting Full-Time MBA 2011
Andrew Fernando Senior Manager, EY MSc Finance 2007
Vibin Joseph Executive Director, BiOZEEN MSc Management 2008
Omer Khan Head of Fixed Income & Currencies Cross Border Solutions, Deutsche Bank MSc Finance 2001
Johnny Kwan Founder and Chairman, Bee Associates Management Science 1979
Josh Liu Founder, Honor Cycles Full-Time MBA 2005
Mathilda Nathan Director, Global Sales Strategy, Deliveroo MSc Management 2011
Bianca Rangecroft Financial Analyst, Goldman Sachs MSc Management 2015
Victoria Reanney Independent Legal and Compliance Consultant Executive MBA 2005
Andrea Scarabello Principal Negotiator, Statoil Weekend Executive MBA 2012
Davide Turi Venture builder, entrepreneur and intrapreneur Weekend Executive MBA 2012
Melanie York Owner and Director, My Marketing Communications Full-Time MBA 1993
Eric Yu Lead Principal, Real World Evidence Solutions and HEOR, IQVIA MSc International Health Management 2007
Sivan Zohar-Abenson Portfolio career including Management Consultant, Programme Manager, Senior Executive and Agile Coach Weekend Executive MBA 2015
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Giving back, staying connected Imperial College Business School’s alumni community is an accomplished, inspiring and diverse one. We are very proud of the achievements of our alumni, and they are our greatest advocates and supporters.
As well as providing dedicated assistance with our events and activities, many of our alumni also volunteer their time to support and mentor current students. This not only helps us realise the School’s strategic goals, but also helps alumni to strength their links with the Business School community and provides ample opportunities for them to continuously develop their professional and personal skills. Here we share the experiences of two of our alumni.
“ I think it’s important for women to feel like they can achieve tangible growth as they go through their career.”
Anna Morgan 30% Club Mentor Anna Morgan is European Finance Director of a brand within the insight, information and consultancy group Kantar. She completed the Executive MBA programme in 2009. After gaining a broader knowledge of business, as well as skills from the Innovation and Leadership modules of the programme, Anna wanted to do something to give back to the School and to share the insights from what she had learned. “I approached Imperial College Business School to volunteer. I don’t have a lot of time, but I inquired if there was something I could do to give about an hour a month. Imperial came back to me and asked if I was interested in doing the 30% Club mentoring. I jumped at the opportunity.” The 30% Club is an organisation whose aim is to achieve gender parity in business. Launched as a campaign in the UK in 2010, the organisation has since expanded to 11 other countries. As part of its own commitment to gender parity, the Business School, in conjunction with the 30% Club, offers two Inspiring Women Scholarships of £25,000 to outstanding female students on the Executive MBA programme. In addition to the scholarship award, the School also provides mentors to the organisation to support the scholarship recipients.
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Anna began meeting with her assigned mentee regularly in the first six weeks to establish a relationship before going on to meet every six weeks. Over the course of her mentorship, during which Anna supported her mentee through a job change and the resulting transition, she began to understand the mutual benefit mentoring brings to mentee and mentor. “I am a mentee myself in my [place of work], but I actually prefer being a mentor. With the 30% Club in particular I think you learn more from the programme: because you’re mentoring people from other industries, you obtain a different perspective.” Anna has found the network that comes with being an Imperial alumna particularly useful. “The content of an MBA is of course important, but it’s the network and the people you meet on that journey through your MBA that are really significant in terms of connection. Particularly when you first finish your MBA, using your connections at that point is really vital. “When I was choosing where to do an MBA, it was important to me that I would be in a cohort of students at a similar stage of life and career: it was useful to meet other people at the same career point, having similar career decisions. It was a good comparator.” Asked whether the MBA was an important asset for women in business, Anna said: “Yes, it’s really important at particular moments of your career to do things differently in a way that complements your career; an MBA course enables you to continue to grow and learn. I think it’s important for women to feel like they can achieve tangible growth as they go through their career, rather than the emphasis being on just your job and expanding your family.”
Davide Turi Alumni Advisory Board Member and Business Coach Entrepreneur and lean-venture builder Davide Turi has over 15 years of experience working within the tech industry: he has led on the evolution of the media industry for multinational companies while also working on his own entrepreneurial projects. He is now a founding partner of Studio Zao, an agency that helps individuals and organisations be more entrepreneurial by designing and delivering immersive acceleration sprints, innovation programmes and community events.
In his capacity as Business Coach, Davide meets with students regularly in one-to-one sessions. He and the students work together to identify practical next steps to build up their venture and to solve problems as they come up. Davide said: “There are two things that make Enterprise Lab probably the best place at Imperial, and my job as Resident Business Coach a joy. The first one is having the opportunity to interact with incredibly skilled, brilliant, ambitious and resilient people. The impact of their ideas, and the technical skills they bring to the table, often leave me speechless.
“When I see my mentees coming back with real market evidence, traction, revenue – well, that’s the key highlight for me.”
“On the other hand, being able to encourage and guide them through a path to succeed really makes my day. But when I see my mentees coming back with real market evidence, traction, revenue – well, that’s the key highlight for me.”
Davide completed the Weekend Executive MBA in 2012, citing it as an “incredibly powerful rocket launch” for his career as it helped him make his plans a reality and gave him the tools to succeed. Afterwards, out of a desire to give back to the School, he joined the Alumni Advisory Board, where he provides much valued support in championing the vision of the School. As an innovation professional, Davide is passionate about using his experience to support other entrepreneurs, guiding them from the early stages of their initial idea or technology to a product validated on the market, ready to raise seed funds. It was this that led him to join Imperial’s Enterprise Lab as a resident business coach, where he would have opportunities to mentor emerging entrepreneurs and help them have a positive impact on the world.
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Scholarship awards
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Imperial College Business School inspires brilliant minds to be innovative thinkers and the world’s future leaders of business and society. But even the brightest business students can face barriers to completing their degrees. We believe that helping these students complete their programmes is the most important thing we can do. That’s why we’re delighted to offer an array of scholarship options to the most talented applicants to our Master’s programmes.
This year, two scholarships of £51,000 each were awarded to two students on the Full-Time MBA programme: Ayoub Abi Rafeh and Anirudh Dastidar. The provision of these scholarships was made possible through generous donations from our Advisory Board with the aim of providing the means and opportunity for exceptional candidates to pursue their educational and professional aspirations. Similarly, the support of the Amjad and Suha Bseisu Foundation has funded the BseisuImperial College Business School Scholarship. Aimed at high-achieving students from Palestine, Syria, Lebanon and Jordan, the scholarship is a relatively new addition to the Business School scholarship suite. This year, it was awarded to Christina Mikhael, a Lebanese student on the MSc Management programme. Christina graduated with distinction from the American University of Beirut with a bachelor’s degree in Business Administration specialising in Finance. She was consistently placed on the Dean’s Honour List of the university’s business school and during her undergraduate studies completed two internships: at Impact BBDO as an Account Management intern and the Bank of Beirut in the Risk Management department. Her long-term career goal is to make “consulting services more accessible to startups in the MENA region” and create an accelerator into employment for graduates in Lebanon.
“Being recognised with a scholarship that acknowledges all the hard work during my undergraduate studies feels like a huge achievement for me as a woman from Lebanon and as an aspiring entrepreneur. It affirmed to me that I was on the right track and gave me even more motivation to do my best not only in my degree at Imperial but also after it. Being a female recipient this year, I hope it will somehow encourage more girls from my region to consider higher education, work hard for it and know that they all have what it takes to succeed.” Christina Mikhael MSc Management 2019
If you would be interested in funding a scholarship or making a donation to other areas of Imperial College Business School, please get in touch with:
Paul Mburu Head of Development
Paul Mburu Head of Development p.mburu@imperial.ac.uk +44 (0)20 7594 0738
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Industry partnerships Over its long history of collaboration in research, consultancy, technology transfer and educational support, Imperial College Business School has worked alongside some of the world’s leading organisations.
Our world-class research in the areas of finance, management, and innovation and entrepreneurship offer exciting opportunities to make a difference to society, in partnership with key firms, institutions and entrepreneurs. Over 2018, we collaborated with DLA Piper on Data Spark (several data science projects covering areas such as litigation and financial markets) as well as other data science initiatives within the firm. Our work continues with the Plato Partnership in leading the European Market Structure Research Network, and we hosted the CEPR-Imperial-Plato Market Innovator (MI3) Annual Conference for the second year running. We marked the fifth anniversary of our partnership with Citi with a complete redesign of the Citi Digital Money Index as well as running time series analytics to better highlight trends in digital money readiness. In addition, the Centre for Climate Finance & Investment established the Quinbrook Fellowship to bridge the gap between business and academia. Going forward we will grow our partnerships in corporate sustainability, technology for social good, and digital transformation.
Julian Sikondari Director of Industry Partnerships and Commercialisation j.sikondari@imperial.ac.uk +44 (0)20 7594 5940 54
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DLA Piper The Business School and law firm DLA Piper partnered to develop, test and apply several data science initiatives within the firm. This began with Data Spark, a scheme that brings students closer to the real-world data-related problems faced by industry. This year’s student projects looked at areas including litigation and financial markets, while a postdoctoral fellowship has also been set up with the company to help Imperial academics understand the unfolding impact of automation on the world of work. As DLA Piper is the legal advisor on more merger and acquisition deals than any other law firm in the world, one Data Spark project involved studying the wealth of in-house data on transactions to understand the impact of deal characteristics and combinations on outcomes. Another project involved two of the Business School’s MSc Business Analytics students, who as part of their studies developed a tool for analysing billing data that helped the firm optimise the staffing profiles it applied to different kinds of work. The tool’s effectiveness prompted DLA Piper to establish its first in-house data science team by offering the students roles as data scientists after they graduated.
“Working with DLA Piper is a privilege. With their global platform and scope, they have the data required to use new techniques in data science to reveal insights that will improve not only the quality of legal services, but also the experience of doing legal work. Working together, we are gaining a deep understanding of the tasks and interdependencies that are essential to excellent legal work.” Dr Mark Kennedy Associate Professor, Director of Imperial Business Analytics and Deputy Director of Imperial’s Data Science Institute
Plato Partnership
Citi
Quinbrook Infrastructure Partners
The School’s Centre for Global Finance & Technology entered into a strategic partnership agreement with Plato Partnership (a not-for-profit company comprising the largest global asset managers and broker dealers) to study patterns in European equities trading post-MiFID II, using detailed daily data on trading activity in European equities. This research project uses trading data to study the impact MiFID II legislation has had on European equity trading since implementation in January 2018. This is the first time data such as this has been made available to academics and is a direct result of our research partnership with Plato. It is of tremendous relevance to the academic study of market structure, as well as to future policy and regulation in Europe.
In 2018, the Centre for Global Finance & Technology’s research partnership with Citi led to the redesign of the Citi Digital Money Index. The research gave insights into how both the public and private sectors can improve their state of digital money readiness and – more importantly – benefit from digital money. The research is a reminder that the gains in making the shift to digital money are hard won and depend on action across all four pillars of the Citi Digital Money Index: a supportive institutional environment; financial and ICT infrastructure; digital money solutions from government and private sector; and enthusiasm from consumers and businesses.
The Centre for Climate Finance & Investment was delighted to receive an additional £525,000 from its benefactors Quinbrook Infrastructure Partners to establish the Quinbrook Fellowship. This new academic post will allow the holder to look at the business models, financial instruments and investment strategies that can help the global economy adapt to climate change. The post will also bridge the gap between the business and academic worlds, allowing the Centre to have an immediate real-world impact.
In June, the Centre organised the second CEPR-Imperial-Plato Market Innovator (MI3) Conference. Held at Imperial College Business School, we welcomed 125 academics, practitioners and regulators from around the world and all parts of the network to discuss market structure for European equity trading post-MiFID II. A keynote presentation was given by Tilman Lueder, Head of Securities Markets at the European Commission, and a panel discussion (moderated by the Centre’s Director, Dr Andrei Kirilenko) was held with regulators from the UK’s Financial Conduct Authority, and the EU, as well as practitioners from Barclays, UBS, Union Investments and Merrill Lynch.
Our digital identity project looks into how best to identity and minimise identity fraud, using blockchain technology. On this, we are working closely with Citi’s Global Treasury and Trade Solutions practitioners, whose insight into these issues has proven invaluable to our researchers. Separately, we are studying how the application of AI can help solve common pain points within the wealth management business; this is particularly interesting as it resulted from an internal entrepreneurship initiative we launched in conjunction with Citi’s Global Private Bank.
“Citi has been a model strategic partner for our centre. We are honoured by the continued collaboration with Citi and are really excited that, in addition to the Digital Money Index, we are also working with Citi on AI and digital identity projects.” Dr Andrei Kirilenko Director of the Centre for Global Finance & Technology
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Key highlights of 2018 The Business School and College organise events throughout the year so academics, students, alumni and our wider community can meet and discuss key issues affecting business. 9 February
19 April
30 April
Imperial Women’s Network event: Health and Well-Being The Imperial Women’s Network kicked off their “personal growth” 2018 programme with an inspiring presentation from Dr Victoria Harmer, Macmillan Consultant Nurse at Imperial College Healthcare NHS Trust.
The Future of Finance: Annual Conference Nobel laureate Muhammed Yunus, Lloyds CEO António Horta-Osório and the Bank of England’s Alex Brazier joined business heads, policy planners and senior finance academics at the Business School’s third annual conference. Cryptocurrencies, inequality and development were among the topics covered, with the emphasis on financial inclusion and the effects of emerging technologies. For more about the conference see page 43.
The Future of Organisations: GCII-AIMA Second Annual Conference The Business School hosted the second annual joint conference of the All India Management Association and the Gandhi Centre for Inclusive Innovation. Leaders from business, politics and academia debated the future of organisations, with privacy, the impact of automation on labour, and protectionism proving hot topics. Speakers included: G.P. Hinduja, Co-Chairman of Hinduja Group; India’s High Commissioner to the UK, Y.K. Sinha; Lord Bilimoria, Chairman of Cobra Beer Partnership; and Baroness Verma.
21 February Dr Marisa Miraldo at the World Economic Forum Dr Miraldo, Associate Professor in Health Economics, was among the Imperial academics who attended the 2018 World Economic Forum in Davos. She presented her research into the links between personality and eating habits, explaining that interventions aimed at making people eat more healthily have generally been unsuccessful. She argued that a better understanding of individual behaviours could improve our health and the economy, and that, to make this happen, we need to measure risk and self-control (read more on page 16).
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1 May
26 April MSc Finance 20th anniversary Over 160 alumni, students and faculty attended an exclusive party at the London Stock Exchange to celebrate the 20th anniversary of Imperial College Business School’s MSc Finance programme. The highlight of the night was an on-stage conversation between Bank of England Governor Dr Mark Carney and David Miles, Professor of Financial Economics and former member of the Bank’s Monetary Policy Committee.
Dean’s Graduation event: Institute of Directors This special drinks reception hosted by Dean Francisco Veloso was to thank those who had made a significant impact during their time at the Business School, as well as prize winners and those on the Dean’s List. Held at the Institute of Directors in London, we celebrated with over 200 alumni at this exclusive event.
21 May Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State – book launch A launch event organised by the Brevan Howard Centre for Financial Analysis was held for Sir Paul Tucker’s book Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State. Sir Paul was formerly the Deputy Governor of the Bank of England, responsible for financial stability. He also served on the Bank’s Monetary Policy Committee. Unelected Power lays out the principles needed to ensure central bankers, technocrats, regulators, and other agents of the administrative state remain stewards of the common good and do not become overmighty citizens.
12-13 June
25 September
31 October
MaKi London Business Media Conference Founded in 2005, the MaKi Network organises the leading international business-education media conferences in Europe, Asia, the GCC and Latin America. This was the Business School’s second year hosting the London event, which brought together representatives of top business schools with journalists from various sectors and international news outlets. The BBC, The Wall Street Journal, Forbes, The Economist and the Associated Press were among those represented.
Imperial College Business School 2018 – 2028 Strategy launch Dean Francisco Veloso formally launched the new 10-year strategy for the Business School at a small event on Imperial’s South Kensington Campus. He outlined the strategic vision to be a world-leading business school with a diverse, engaged and supportive research learning environment that leverages technology and entrepreneurship to improve business and society. Following the launch event, the Dean shared the vision with our alumni community around the world including visits to groups in Beijing, Singapore, New York and Kuala Lumpur.
The Playful Entrepreneur – book launch A major new book about the future of work by Professors David Gann and Mark Dodgson – both affiliated with the Business School – was launched with a showcase of student entrepreneurship. Among the Imperial startups giving demonstrations were: BlakBear, which develops air and water quality sensors; Mitt, a firm developing comfy, easy-to-use and affordable artificial limbs; and ThinAir, which uses biomembranes to collect and clean water.
11 October
2 July Climate Change and the Cost of Capital in Developing Countries – report launch Academics and business leaders gathered at the School for the launch of a new study commissioned by the United Nations Environment Programme. With financial support from MAVA Foundation, the report was prepared by the School’s Centre for Climate Finance & Investment, and SOAS University of London. The report found developing countries face debt payments of up to $168 billion over the next 10 years as a result of their vulnerability to man-made climate change.
Annual Business School Alumni Celebration Over 150 alumni, guests and staff gathered at the Business School at our annual celebration, this year held in the Energy Hall of London’s Science Museum. The evening was a celebration of the lifelong connection alumni have with the Business School and Imperial College London, with alumni from 1976 to 2018 and from across all programmes represented.
1 November Women in Tech: The Inside Story The School hosted the world’s first holographic university lecture. Guest speakers were beamed into the College atrium from Los Angeles, New York and London to give their accounts of the challenges and opportunities they had experienced in their careers. The hologram technology will be used to teach students during the current academic year. The event garnered more media coverage than any previously held by the Business School. For more on the event see page 45.
12 October Student Welcome Reception The Business School welcomed students from all 17 programmes to the Natural History Museum for a special event to kickstart the academic year. Over 1,400 students from 103 nationalities were joined by faculty and staff in the famous Hintze Hall, which features “Hope”, a 25.2 metre long blue whale skeleton suspended from the ceiling.
5 December 2018 Annual Hedge Fund Conference The Brevan Howard Centre for Financial Analysis organised and hosted the 13th Annual Hedge Fund conference at The Berkeley Hotel, with the Centre for Economic Research. Bryan Kelly, Professor of Finance at Yale School of Management delivered his keynote speech: Empirical Asset Pricing Via Machine Learning.
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Personal recognitions Teaching Excellence Awards and the Students’ Excellence Award for Professional Staff These awards are voted for by our student community and celebrate those faculty who have excelled in their teaching or in ensuring our students make the most of their time at Imperial College Business School. Innovation in Teaching Dr Andre Veiga Assistant Professor of Economics Inclusive Teaching Dr Pedro Rosa Dias Associate Professor of Health Economics MBA Core Module Teaching Professor David Shepherd Visiting Professor in Global Macroeconomics MSc and MRes Core Module Teaching Dr Wolfram Wiesemann Associate Professor of Management Undergraduate Teaching Dr Laure de Preux Assistant Professor of Economics PhD Supervision Dr Marisa Miraldo Associate Professor in Health Economics Students’ Excellence Award for Professional Staff Julia McShane Student Experience Manager
Professional Staff Awards Run by the Business School’s Professional Staff Council, these awards recognise staff members who have gone above and beyond to support their colleagues and our students. Unsung Heroes Christopher Skinsley Learning Technologist, Media Specialist Mikhaela Gray Client Relationship Manager Executive Education Rachel van der Toorn Programme Manager Executive Education Exceptional Team Member Jointly awarded to Hannah Edwards Strategy and Planning Manager Dean’s Office Katie Leung Pah Hang Programme Manager Undergraduate programmes Rising Star Megan Taylor-Silva Marketing Coordinator Institutional Marketing & Communications Dean’s Award for Good Citizenship Admissions team Best Collaboration Exams & Assessment team
Nazila Noorkhan MBA Programme Manager
Outstanding Leadership Bernadette Kuforiji Faculty Finance Officer
Student Support as Teaching Assistant Quentin Coutellier Research Postgraduate
Exceptional Contribution to Impacting the Student Experience Working Professional Careers team
Imperial College Union Student Academic Choice Awards for Best Supervision Dr Marisa Miraldo Associate Professor in Health Economics Imperial College Union Student Academic Choice Awards for Best Graduate Teaching Assistant Hormmoz Ramian Research Postgraduate
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Academic recognitions
Professor Carol Propper Associate Dean of Faculty and Research, Chair in Economics Awarded a €1.5 million European Research Council Advanced Grant; it will fund her work on the impact of the labour market on the production of healthcare and health. Also made an International Fellow of the National Academy of Medicine. The US-based body provides guidance to the American and international communities; membership is considered one of the highest honours for professionals working in the fields of health and medicine.
Professor James Barlow Chair in Technology and Innovation Management Professor James Barlow was appointed Bennet Visiting Professor at Halmstad University in Sweden for a three-year term. The purpose of the professorship is to help strengthen Halmstad’s capacity in health technology and innovation, providing guidance and advice; Professor Barlow will work with faculty predominantly in the University’s Centre for Innovation, Entrepreneurship and Learning Research.
Professor Marcin Kacperczyk Professor of Finance Professor Kacperczyk was appointed President of the European Finance Association (EFA) in August. He was also conference chair at the EFA’s 45th Annual Meeting in Warsaw, co-hosted by the Business School and the SGH Warsaw School of Economics.
President’s Awards for Excellence Annual awards that recognise staff members across Imperial College London who have made outstanding contributions in teaching, research supervision, or supporting the student experience.
Other recognitions
Professor Jonathan Haskel Chair in Economics Appointed as an external member of the Bank of England’s Monetary Policy Committee. Professor Haskel’s three-year term, which started in September, saw him join the ninemember committee responsible for setting UK interest rates. Also made a Commander of the British Empire in the Queen’s Birthday Honours. He was commended for his public service to economics, including his research on productivity, innovation, intangible investment, and growth.
2018 Best 40 Under 40 Professors Dr Ileana Stigliani, Assistant Professor of Design and Innovation, and Dr Paolo Taticchi, Principal Teaching Fellow, were named among the world’s top 40 business academics under the age of 40 by Poets & Quants. The “Top 40 Under 40”, which is published annually, is a list of the world’s best MBA lecturers under the age of 40 from business schools around the world, as nominated by students, faculty and alumni. Dr Stigliani and Dr Taticchi were recognised for their outstanding teaching, and passion about using business as a force for good.
Dr Mirabelle Muûls Assistant Professor in Economics Awarded the President’s Medal for Outstanding Contribution to Teaching Excellence. Dr Muûls’ award recognised her work in launching the MSc Climate Change, Management & Finance programme, having started with a blank sheet of paper just 18 months before the first students arrived. The Dean’s Student Advisory Panel Awarded the Student Award for Excellence in Societal Engagement. This award is given to undergraduate or postgraduate students who have taken the initiative to deliver highquality engagement activities with the public, schools, community groups and/or patients.
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Financial report Actual 2017/18 ÂŁmillion
Income 54.7 Tuition fees 3.6 Executive Education 2.8 Research grants 2.3 Endowment income 2.2 HEFCE grants 2.5 Other income
68.1 Total income
Expenditure 45.9 School expenditure 8.9 Central College services
13.3 Contribution to College infrastructure costs
54.8 Total expenditure
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Actual 2016/17 ÂŁmillion
Income 45.4 Tuition fees 2.9 Endowment income 2.6 Research grants 2.5 Executive Education 2.5 HEFCE grants 2.8 Other income
58.4 Total income
Expenditure 40.1 School expenditure 8.7 Central College services 0.3 Restricted funds
9.3 Contribution to College infrastructure costs
49.1 Total expenditure
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Donor list Thank you to the graduates and friends who have supported the Business School and College in the last year:
Mr Abdul A. Abdul Rasheed MBA Imperial College Business School 2005
Mr Denys G. Bennett Electrical Engineering 1968, MSc Management Science 1972
Ms Sam L. Campbell MBA Imperial College Business School 2014
Mr Nicolas Dard MSc Electrical and Electronic Engineering 2008
Abu Dhabi School of Management
Dr Robert D. Benson MSc Management Science 1987, Management School 1989, PhD 1993
Mr Robert W.N. Cattell MSc Management Science 1981
Ms Salwa Darraj MSc Imperial College Business School 2014
Mr Anees Ahmad MBA Imperial College Business School 2008 Mr William O.W. Ajala* MBA Imperial College Business School 2009 Mr Arho Akpe MBA Imperial College Business School 2010 Mr Vinay Achar A. Alevoor MBA Imperial College Business School 2011 Mr David J. Alexander MBA Management School 1992 Mr Sanar Alserdare Mathematics 2007, MSc Imperial College Business School 2008 Ms Violeta M. Alvarez MEng Civil Engineering 1998 The Amjad & Suha Bseisu Foundation Miss Sandhya Anand MBA Imperial College Business School 2005 Arete Investments Limited Professor Alan Armstrong* Chemistry 1987, PhD 1990, MBA Imperial College Business School 2016 Dr Alessandro Asciutto MSc Imperial College Business School 2016 Mr John M. Avis* MSc Management Science 1977 Mr John F. Barnes MSc Management Science 1985 Ms Anthimia-Ekater Batrinou MSc Management School 1990 Mr Andrew O. Bayode MBA Management School 2002 Miss Anne E. Benjamin Management Science 1977, Management School 1987
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Mr Aimone Beretta* MBA Imperial College Business School 2008 Ms Henrike Berg MSc Imperial College Business School 2017 Mr Simon O. Berkeley DIC Management School 1989 and Mrs Helen Gaffney-Berkeley Mr Anant Berlia MSc Imperial College Business School 2013
Mr Gregory C. Chadbourne MBA Imperial College Business School 2016 Dr Stefanos Chandakas MBA Imperial College Business School 2004 Dr Kian Chuan Chang MBA Imperial College Business School 2017 Mr Supa Chantschool MSc Imperial College Business School 2015
Mr Robert C. Beverley MSc Management School 1988
Mr Vincent Chen Imperial College Business School 2014, MSc 2015
Mr Oleg Bezumov MSc Imperial College Business School 2013
Miss Xia Chen MSc Imperial College Business School 2015
Professor Adam J. Bock DIC Imperial College Business School 2010
Mr Matthew D. Cheng MBA Imperial College Business School 2014
Mr Paul A. Bonsor* MSc Management Science 1980
Mr Hock C. Chong* MBA Management School 2002
Mr Martin E. Bradley MBA Management School 1995
Mr Jean F. Chung Shui MBA Imperial College Business School 2009
Brevan Howard Asset Management and Brevan Howard Partnership Services*† Mr David H.C. Brigstocke MSc Management Science 1975 Mr Colin C. Brown MBA Management School 1998 Mr Amjad A.N. Bseisu and Mrs Suha Bseisu Ms Michaela Burckard MSc Imperial College Business School 2013 Mr Andrew L. Butt MBA Imperial College Business School 2003 Ms Valerie J. Cain MBA Management School 1998
Mr Tony Clinch* Aeronautics 1969, MSc Management Science 1972 Mr Nigel J. Collier Mathematics 1989, MBA Imperial College Business School 2003 Ms Ann Collins Chemistry 1985, MSc Management Science 1986 Mr Robert F. Cooke* MBA Management School 1993 Dr Chris Corbishley MSc Imperial College Business School 2012, PhD 2016 Mr Adrian J.C. Cowderoy MSc Management Science 1986, Management School 1989
Mr William T.J. Davies* Mechanical Engineering and Motive Power 1947, DIC Mechanical Engineering 1948, DIC Chemical Engineering and Applied Chemistry 1952 Ms Tamsin Defriez née Todd MBA Imperial College Business School 2006 Miss Hannah Deppenkemper MSc Imperial College Business School 2014 Mr Alexander I. Dergunov MBA Imperial College Business School 2004 Mr Michael Devereux MSc Imperial College Business School 2012 Ms Ann M. Diamant MSc Management Science 1982 Mr Alex Dietrich* MBA Imperial College Business School 2010 Dr Jie Ding MSc Management School 2001, PhD Imperial College Business School 2004 Ms Elise Do MBA Imperial College Business School 2014 Dr Amir Eilon PhD Management Science 1975 Emeritus Professor Samuel Eilon† and Mrs Hannah Eilon Dr Mark J. Ellyne MSc Management Science 1972 Dr Angela Fairney* Westminster Hospital Medical School 1962, Management School 1994 Miss Anushae Fecto MSc Imperial College Business School 2017
Ms Marianne N. Fekene MSc Imperial College Business School 2015
Mr Boris Gulevich MSc Imperial College Business School 2017
Miss Yagmur S. Fellahoglu* MSc Imperial College Business School 2011
Mr Ankur Gupta MBA Imperial College Business School 2009
Mr Jonathan Fewtrell* MSc Management Science 1984
Ms Sarah L. Gurney MSc Management School 1988
Mr Gareth A. Fielding MBA Management School 1991
Mr Francisco Gutierrez MBA Imperial College Business School 2011
Mr Nicholas P. Fletcher MBA Imperial College Business School 2004 Mr Jonathan C. Fluss MBA Management School 1996 Mr James C.K. Fok MEng Mechanical Engineering 2006, MSc Imperial College Business School 2007
Mr James A. Hares Mechanical Engineering 1979 Mr David J. Hasso* MBA Imperial College Business School 2007 Mr Yann Helle* MBA Imperial College Business School 2010
Mr Leong Kin Foong* Civil Engineering 1986, MSc Management School 1988
Mr Mike Hills MSc Imperial College Business School 2016
Professor Arthur A.S. Francis* Mechanical Engineering 1967, Management Science 1970, 1973
Mr Tetsu Hirata MBA Imperial College Business School 2015
Mrs Lee H. Fulton née Tay MSc Management Science 1986 and Mr Paul R. Fulton
Mr Chi Chun Ho MBA Management School 1992
Mr Tharidu K. Gamwara MSc Imperial College Business School 2010 Mr Patrick B. Gaunt MSc Management Science 1985 Gems Gallery Group Co (Bangkok, Thailand) Mr Peter B. Glass Physics 1975, DIC Management School 1989 Dr Rodney J. Gochin* MBA Management School 1998 and Mrs Jane Gochin* Miss Madalena Godinho MSc Imperial College Business School 2013 Google – Benevity Mr James H. Grove MBA Management School 1996
M. Samy Hocini MSc Imperial College Business School 2011 Mr Peter J. Hoddinott* MBA Management School 1993 and Mrs Rebecca Hoddinott* Ms Barbara Hollinger MSc Imperial College Business School 2014 Mr Ben P. Hollins MBA Management School 1993 Dr Ian V. Howell MSc Management Science 1976 Mr James M. Howitt MSc Earth Resources Engineering 1996 Dr Catherine S.F. Hubbard* Management School 1997
Mr Luis Hui MEng Electrical and Electronic Engineering 2004, MSc Imperial College Business School 2006
Dr Nicholas M. Leon Mechanical Engineering 1973, DIC Imperial College Business School 2008
Imperial College Foundation*†
Mr Terrence T. Leung MSc Imperial College Business School 2017
Mr Nicholas W. Jackson* MSc Management Science 1975 Dr Nawooroonne W.N. Jayasiri* MSc Mechanical Engineering 1968, PhD Management Science 1977 Mr Jack A. Jones* MSc Management Science 1984 Mr Branimir Jovanovic MSc Imperial College Business School 2007 Mr Panayotis P. Kallieros MSc Management Science 1984 Mr Kandiah Kandeepan MSc Imperial College Business School 2008 Mr Sasha A.N. Karakusevic* MBA Management School 1996 Mr Nicolas I. Katsikis MBA Management School 1991 Dr Christodoulos Keliris MSc Imperial College Business School 2008
Mr Gavin Kelly MSc Management Science 1982 Ms Anna K. Kennedy Management School 2001
Mr Shabbab S. Khan* MBA Management School 1996
Ms Nina Konstantinidou MSc Imperial College Business School 2015
Mr Jun Liu MBA Management School 2000 Mr Xavier A. Llerena Schiffmacher MSc Imperial College Business School 2012 Mr Huoi S. Low MSc Management Science 1979 Miss Katharina A. Maier MSc Imperial College Business School 2017 Mr Adekunle Majiyagbe MSc Imperial College Business School 2010
Mr Dimitris Mandiliotis Mr William A. Marshall MSc Mechanical Engineering 1970 Mr Iraj J. Matthews Management Science 1982
Mr Omer Khan MSc Finance 2001
Mr Johannes M. Kolb Management School 2000
Mr Niklas P.P. Lilius MSc Imperial College Business School 2010
Miss Joyce Mak MSc Imperial College Business School 2012
Mr Paul D. Kellett MBA Imperial College Business School 2003
Miss Nike N. Kojakovic MSc Imperial College Business School 2010
Mr Tianzhou Li Computing 2014, MSc 2015, MSc Imperial College Business School 2017
Mr Konstantinos Mavros MSc Management School 1999 Ms Kate L. McAleenan MBA Imperial College Business School 2010 Mr Paul R. Mcentire MBA Management School 1991 Miss Kelly McGrail MBA Imperial College Business School 2014 Dr Mary Meaney
Professor Dr. Frank Lefley Management School 2000
Imperial College Business School
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Mr Andrew Methven MBA Imperial College Business School 2013
Mr Hugo E.L. Peurois MSc Imperial College Business School 2015
Mr Elias Sakellis* MEng Mechanical Engineering 1998, MSc Management School 1999
Mr Maxim Spivak MBA Imperial College Business School 2006
Mr Chadwick C.H. Mok MBA Management School 1992
Mr Eugene P. Philalithis* Electrical Engineering 1990, MBA Management School 1991
Mr Adnan Salkic MBA Imperial College Business School 2011
Mr Sam Kye Sum Ping MSc Management Science 1975
Professor Emeritus George Phocas-Cosmetatos PhD Management Science 1975
Lord Baldota Sanjay Zumberlal
Dr Hiroki Mori MBA Imperial College Business School 2015 Mr Kanji Morotome MSc Management Science 1982 Dr Vizes Nakornchai Mechanical Engineering 1975, PhD Management Science 1981 Mr Vincent Niu MSc Imperial College Business School 2012 Mr Cyprian Njamma MSc Imperial College Business School 2008 Dr Masanao Nomura MBA Imperial College Business School 2007 Mr Terence A. Noone MBA Management School 1993 Mr Matthew Norgate* MBA Imperial College Business School 2007 Ms Marianne Odfjell MBA Management School 1999 Mr Tim G. O’Hanlon MSc Mineral Resources Engineering 1986 Mr Joseph P. O’Hara* Management Science 1982 Mr Abimbola Oladapo MBA Imperial College Business School 2005 Ms Ify Onugha MBA Imperial College Business School 2008 Mrs Mediha Orucevic Mr Michael J. Osmond* MSc Management Science 1972 Mr Oladipo O. Oye-Somefun* MBA Imperial College Business School 2006 Dr Ioanna Papanikolaou Physics 1992, PhD Mathematics 1997 Mr Jason Parmar Chemistry 2013
Mr Nigel G. Piper* MSc Management Science 1979 Mr Michael L. Prew* Mechanical Engineering 1980, MSc Management Science 1981 Natalie Pullin MBA Imperial College Business School 2018 Mr Ahraz Qayyum Sheikh MEng Chemical Engineering and Chemical Technology 1998, Management School 2001, Imperial College Business School 2010 Quinbrook Infrastructure Partners Mr Mark E. Randall MBA Imperial College Business School 2004 Mr Radoslaw P. Rasala MBA Management School 1998 Miss Lathaporn Ratanavararak MSc Imperial College Business School 2009 Mr Kamal Raza* MBA Imperial College Business School 2004 Miss Isella Rigoulet MSc Imperial College Business School 2013 Mr Stuart Riley MSc Physics 2000 and Mrs Joanna Riley Mr Marc O. Roberts* MBA Management School 1991 Mr Alexander Rodriguez Melo MBA Imperial College Business School 2016 Mr Howard J. Rosen MSc Management Science 1976 and Ms Susan Rosen Mr Alan J. Rossi* MSc Management Science 1975
Dr Dimitrios E. Patrikios MSc Management Science 1985
Mr Ole Ruch MSc Imperial College Business School 2009
Mr Michael Pawlicki MSc Imperial College Business School 2012
Mr Mo Saffarini MBA Imperial College Business School 2008
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Annual Report
Mr Shahab Saremi MBA Imperial College Business School 2017 Ms Diana M. Scarrott *† MBA Management School 1998 Mr David Scaysbrook Dr Dimitris Scotiniadis Electrical Engineering 1993, MSc Electrical and Electronic Engineering 1994, MBA Management School 1995, 1999 Mr Gregory Scotiniadis* MBA Management School 1998 Mr Iain G. Segall* Civil Engineering 1992 Dr Sera Senturk MSc Imperial College Business School 2017 Mr Vik Sharma Physics 1994, MBA Management School 1995, MBA Imperial College Business School 2010 Dr David W.N. Sharp PhD Computing 1989, MBA Management School 1996 Mr Ian R. Shaw MBA Imperial College Business School 2013 Mr Wai Kit K. Shum MSc Imperial College Business School 2014 Mr Zbigniew M. Sikora MSc Management Science 1975 Mr Ayush Sinha MBA Imperial College Business School 2013 Mr Haris Sitzoglou MSc Imperial College Business School 2008 Mr Richard Smith MBA Imperial College Business School 2004 Mr Hidetoshi Soga MSc Management School 1988 Ms Andrea Solana MBA Imperial College Business School 2014 Mr Michael S. Spencer Civil Engineering 1975, MSc Management Science 1977
Mr Khalid K.R. Talukder MEng Chemical Engineering and Chemical Technology 1997, MBA Imperial College Business School 2004 and Ms Salome S. Talukder Mr Yang Tang MEng Mechanical Engineering 2013, MSc Imperial College Business School 2014 Mr Philip A. Taylor MBA Management School 2001 Mr Norman S.Y. Teo MBA Imperial College Business School 2003 Dr Kenneth G. Thomas MSc Mechanical Engineering 1971 Miss Melis Tigrak MSc Imperial College Business School 2008 Mr George R. Tilley* MBA Management School 1992 Unigestion Unilever Mrs Sangita Vashi née Naik Electrical and Electronic Engineering 1996, MBA Management School 1999 Mr Mohit K. Verma MEng Chemical Engineering and Chemical Technology 2009, MBA Imperial College Business School 2016 Mr Jan R.J.W. Verstraete MSc Imperial College Business School 2012 Mr Vladan Vignjevic MSc Imperial College Business School 2017 Mr Leonard D. Vinville MBA Management School 1996 Mr James Waddington MBA Imperial College Business School 2011 Mrs Judith Wainwright MSc Social and Economic Studies 1982 Miss Aimee Walton Ms Grace Wang Imperial College Business School 2014
Mr Yang Wang MSc Imperial College Business School 2008 Mrs Jane C. Warby née Lavers Biochemistry 1982, Management Science 1983 Mr Shingo Watanabe* MSc Imperial College Business School 2009 Mr Stephen L. Wood MSc Management Science 1974 Dr Ross W. Wright PhD Mathematics 1995 Miss Carrie Wu MBA Imperial College Business School 2017 Mr Matthew Xuereb MSc Imperial College Business School 2011
If you would like to donate or learn more, please visit: imprl.biz/DonatetoIB Donors who make gifts totalling £1,000 or more during the College’s financial year (1 August to 31 July) are offered annual membership of one of our three exclusive giving circles: the Imperial 1851 Circle, the Imperial 1907 Circle and the President’s Circle. Benefits include invitations to special events, lapel pins and special recognition in the College’s Annual Fundraising Report. Learn more at: imperial.ac.uk/giving/thank-you/
Mr Sakae Yoshida MBA Management School 1991 Dr Alexander G. Ypsilanti Electrical and Electronic Engineering 1994, MSc 1995, PhD Management School 1998 Mr Hengwen Yu MBA Imperial College Business School 2015 Mr Genghan Yue Mathematics 2010, MSc Imperial College Business School 2012 Miss Ingrid Zhang MSc Imperial College Business School 2011 Miss Mengxin Zhao Imperial College Business School 2013, MSc 2014 Mr Bert Zhou MSc Imperial College Business School 2017 Mr Siyi Zhou PhD Imperial College Business School 2005 And one anonymous donor
* Given every year for the last five financial years (cash income) † Given to an endowed fund in either 2017–18 or a previous year Imperial College Business School
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Imperial College Business School Imperial College London South Kensington Campus London SW7 2AZ United Kingdom T: +44 (0)20 7589 5111 F: +44 (0)20 7823 7685 W: imperial.ac.uk/business-school @ImperialBiz imperial-college-business-school imperialbusiness @imperialbiz Editors: imperial-business@imperial.ac.uk
Disclaimer: While all reasonable efforts have been made to ensure the information in this publication is correct, matters covered by this publication are subject to change. Imperial College Business School accepts no liability for any loss or damage caused by errors or omissions, howsoever caused. Published May 2019. Cover Artwork by Jonathan Lindgren Designed by opx.studio Š Imperial College Business School