Investment bank UBS Warburg is to give £2m to sponsor a maths and music
academy in one of the most deprived areas of England.
UBS is the first bank to make a donation under the Government’s scheme to
create state-of-the-art ‘city academies’.
The school will teach under-privileged 11 to 18-year-olds in Hackney, east
London, where more than half of children speak English as a second language.
Nick Wright, executive director of corporate responsibility and community
affairs, said that maths and music minimised language barriers to learning,
while combining academic rigour with teamwork and self-expression.
"The project is underpinned by a philosophy of enlightened
self-interest," he said. "It will benefit the community, as well as
allowing the company to put its values into practice."
Wright hopes the scheme will also impact on recruitment and retention at the
bank, with employees reacting positively to the news of the donation.