Goldman Partner to Help Raise Funds for Crick Institute
Charles Manby, a senior partner at Goldman Sachs Group Inc., will lead a 100 million-pound ($152 million) fundraising campaign for the Francis Crick Institute, which will be Europe’s largest biomedical research center.
Manby will be chairman of the 16-member board collecting the money for Cancer Research UK, which is contributing to the institute’s 650 million-pound construction cost and its 120 million-pound annual budget. The board includes the chief executive officers of International Standard Asset Management, Ted Baker Plc (TED), Ingenious, Newton Investment Management, New York Times Co. (NYT), and WPP Plc (WPP), Cancer Research UK said today in an e- mailed statement.
The institute will open in London in 2015. Paul Nurse, a 2001 Nobel Prize winner in physiology or medicine for work on cell cycle regulation, is leading a four-year effort to build the facility. At 1 million square feet and with as many as 1,500 employees, including 1,250 scientists, he said the Crick Institute will become Europe’s biggest science research center in one building.
“The institute will take new approaches in carrying out biomedical research aimed at speeding up scientific discovery and the application of those discoveries,” Nurse said in the statement. “We need the funds to make this a reality.”
International Standard Asset Management CEO Stanley Fink, Ted Baker CEO Ray Kelvin, Ingenious CEO Patrick McKenna, Newton Investment CEO Helena Morrissey, WPP CEO Martin Sorrell and New York Times CEO Mark Thompson will work with Manby to raise money for the institute, according to the cancer charity.
Other members of the Cancer Research UK fundraising board are Sherry Coutu, an investor who serves on the finance board of Cambridge University; former HSBC Holdings Plc CEO Michael Geoghegan; David Harding, founder and president of Winton Capital Management LLC; Richard Hayden, chairman of Haymarket Financial; Autonomy Corp. co-founder Mike Lynch; Hayat Palumbo, chairman of the Walbrook Club; Andrew Pisker, co-founder of Richmond Park Partners LLP and former CEO of Dresdner Kleinwort Wasserstein; Lee Portnoi, former chairman of TIS Group Ltd; and Mark Yallop, U.K. group country CEO at UBS AG.
The U.K. government-funded Medical Research Council is paying 300 million pounds of the Crick’s construction costs, the Wellcome Trust is providing 120 million pounds and London-based Cancer Research UK is contributing 160 million pounds. Imperial College London, King’s College London and University College London are pitching in 40 million pounds each. The total includes contingency funds.
The expected 120 million-pound annual budget will come from the same sources. Cancer Research will fund 40 million pounds to 50 million pounds a year and the Wellcome Trust will give an undetermined amount, the heads of both groups said. The remainder will come from the government and the universities.
To contact the reporter on this story: Kristen Hallam in London at email@example.com
To contact the editor responsible for this story: Kristen Hallam at firstname.lastname@example.org