The University of Manchester has received a £2.5m donation to boost the region’s capacity and FinTech capability.
The donation was made by Greensill, a British FinTech firm founded by Lex Greensill, who is also an Alliance Manchester Business School (AMBS) MBA alumnus (Class of 2006).
The firm offers working capital finance to its customers by combining tech and capital markets expertise.
The donation is hoped to enable the University to drive the FinTech agenda in the North West with a new Chair in FinTech, as well as other key academic posts and PhD scholarships over the next five years.
The Greensill Chair in FinTech investment sees the appointment of Markos Zachariadis as Professor of Financial Technology and Information Systems at AMBS.
Part of Professor Zachariadis’ role will involve managing projects which will build the University’s public profile in FinTech, as well as creating partnerships with businesses to work on projects.
The funding will also enable the collaboration of academics from across the University to promote multidisciplinary research and support student entrepreneurship in FinTech and related fields.
“This generous donation from Greensill is very forward looking and will enable the University to spearhead the understanding and sharing of FinTech expertise across business communities locally, nationally and globally,” said Professor Dame Nancy Rothwell, President and Vice Chancellor at The University of Manchester.
“As well as funding the Greensill Chair position, we will also develop our teaching capabilities by creating two lecturer posts, allowing us to plan for growth in undergraduate, postgraduate and executive education in this developing field.
“Two postdoctoral research fellows and four PhD scholarships will also enable us to carry out ground-breaking research and help us to create strong links with businesses, policy makers and authorities, positioning Manchester at the forefront of this evolving field.”
Lex Greensill added: “At Greensill we are passionate about how finance and technology can change for the better the way we live and work. To that end, we look forward to developing an ever-closer relationship with Alliance Manchester Business School. We are delighted to be able to give back to an institution that was so important to the foundation of our firm.”