BANKING FOR CHARITABLE GAIN
Experts in banking and finance came in to inspire our Economics and Business pupils and to share their experiences in the sector. Meanwhile the Stock Market Club have been busy making investments for the William Smith Fund.
The queue of eager pupils waiting to ask questions after the talk on the banking sector is clearly a testament to how relevant this topic is to our pupils in school and for their future careers.
Economics & Business Sixth Form pupils were treated to a session on banking with Professor Stephen Millard, OP, Senior Economist at The Bank of England and Frank McKirgan former Head of Global Equities at RBS, who had a ring-side seat to the financial crash of 2008. Pupils were able to contrast the 4 pillars of Financial Stability from the point of view of the Bank of England, with the first-hand experiences of a banker involved in the bailout of RBS following the financial crash.
Financial stability is a key topic in the A Level Economics specification, with the viewpoint of a banker bringing this topic alive for pupils. Business A Level pupils also study the role of the Bank of England in the external environment of business, and this was an excellent introduction to this topic for them. Pupils were also given practical step-by-step advice on how to get a job in banking, an area that certainly interests some of them. Our thanks to Stephen and Frank for sharing their time and enthusiasm with us.
Many of the Sixth Form Economics and Business pupils are also members of the Tuesday lunchtime Stock Market Club, who through some clever investing were able to donate £500 to the William Smith Fund this term.
The club had been allocated £22,000 by a benefactor to invest. In a rigorous selection process each pupil had to research and pick up to two shares and then prepare an investment thesis for each recommendation and answer a number of questions on it. The portfolio was targeted to maximise returns within one month, and in total eleven stock recommendations were accepted from seven pupils and the pupils made a staggering 4.98% in one month. The Capital Gain was then donated by the benefactor to the club who asked that it was given to the William Smith Fund.
Congratulations to all pupils involved, this really was a great achievement.