Size of university matters for the budding tycoons

The seat of learning has been named the fourth best university in the UK when it comes to producing millionaires and multi-millionaires.

The independent survey of 549 millionaires by financial experts Skandia found 3.9 per cent went to Leeds, with the University of London (10.9 per cent) topping the list for producing graduates with a seven-figure sum to their name.

Successful business leaders to have emerged from its halls include Edmund Happold, founder of professional services firm Buro Happold, Subir Raha, former executive director of the Indian Oil Corporation, and Ian Buckingham, former managing director of Interbrand Inside.

Also among the university’s widely recognised wealthy alumni are Dire Straits musician Mark Knopfler, actor and Star Trek star Chris Pine, comedian and impersonator Alistair McGowan, and Prince Harry’s former girlfriend Chelsy Davy.

Prof Nigel Lockett is director of the Leeds Enterprise Centre, at Leeds University Business School, and said the size of university allowed it to cater for all students needs, with more than 30,000 on the books.

“Because of the sheer number of students we can provide the full spectrum of modules and programmes so it’s a very diverse student population that live and increasingly work in the city,” said Prof Lockett.

“We find students come from outside the region and many wish to stay on after graduation.

“The performing arts can be just as enterprising as the medical sciences, although some disciplines lend themselves to entrepreneurial activities.

“That includes people in the computer industry who increasingly see their career led by themselves, contracting to form networks and enterprises beyond the normal way of working.

“The Enterprise Centre provides modules to all students regardless of what degree programme they are on – they can take modules that count towards their degree and that is unusual.”

Among the support available for Leeds students looking to finely tune their business brain is a programme called Spark, which awards funding for business 
start-ups, and other modules 
that parachute students in as consultants at an imaginary failing firm, creating “augmented reality” situations for them to deal with.

The Goldman Sachs 10,000 Small Businesses Scheme also sees the university working with and supporting small enterprises from across the region.

“Spark provides funding on a competitive basis, but also other support in terms of mentoring and boot camp-style activities,” said Prof Lockett who picked out Create, a city firm that works with vulnerable and marginalised people and is run by a former student, as a good example.

“Sarah Dunwell is the chief executive of Create, a social enterprise based in Leeds that also operates in Manchester and works with people outside of the normal employment avenues, that have been excluded in some way and works with them to develop employability skills.

“I think we have to be conscious that we are in a new landscape and the introduction of £9,000 fees changes the relationship that students have with their university,” he added.

“A three-year degree will cost £27,000 and perhaps the student and their parents will consider how it will enhance their employment prospects.”

Skandia’s second annual Millionaire Monitor also reveals 71.6 per cent of millionaires come from a state school background, instead of a public school upbringing.

In total, 65 per cent of millionaires went to university, with a third obtaining a Masters, while 71 per cent had a state school education.

The University of London topped the table with 10.9 per cent of millionaires studying there, with Oxford second (7.8 per cent) and Cambridge third (5.5 per cent).

Corporate Alumni

Ian Dyson, former finance director at Marks & 
Spencer

Stefan Barden, former chief executive at Northern Foods

Christopher Fay, former chairman and chief executive at Shell UK

Andy Green, chief executive at Logica

Ralph Kugler, former president at Unilever

Sir Ian Robinson, the 
former chairman at 
Ladbrokes

Martin Scicluna, former chairman at Deloitte

Martin Towers, former finance director at Kelda 
Group

Mark Tucker, former chief executive at Prudential

Phil White, former chief executive at National Express.