Subsidiaries Management Group

• To appraise the Vice-Chancellor and President of all material developments relating to the operational performance and governance of the University’s subsidiaries, joint ventures and spin-outs and to act as a conduit for effective decision-making.
• To monitor and scrutinise the subsidiary companies, joint ventures and spin-outs, and to set appropriate long term performance targets.
• To provide regular reports to the University Executive Board and the Finance Committee on the performance of the University’s subsidiary companies, joint ventures and spin-outs.
• To make recommendations to the Vice-Chancellor and President regarding the creation, disposal or winding up of subsidiary companies, joint ventures and spin-outs.
• To make recommendations to the Vice-Chancellor and President regarding University-nominated directors of subsidiary companies, joint ventures and spin-outs.
• To set limits for local capital investment approval for all subsidiaries and joint ventures and (where appropriate) spin-outs.
• To consider and make recommendations to the Finance Committee regarding the external borrowing limits on subsidiaries, joint ventures and (where appropriate) spin-outs.
• To review periodically the capital requirements of subsidiaries, joint ventures and (where appropriate) spin-outs, and make recommendations relating to their potential inclusion in the University’s capital programme.
• To monitor the support needs of the subsidiary companies, joint ventures and spin-outs with respect to HR and Finance functions.
• To annually review the strategic direction of the University’s subsidiary companies, joint ventures and (where appropriate) spin-outs and associates and their contribution to the University’s overall strategy.
• To annually review the rationale behind the University’s involvement in all associate companies.
• A Sub-Group of two members of the Subsidiaries Management Group to approve directors of subsidiary companies, joint ventures and spin-outs for the Group outside of its meetings. The Sub-Group is always to include either the Finance Director or the Chief Operating Officer.

• Professor Ken Badcock, Deputy Vice-Chancellor (Chair)
• Philip Callen, Subsidiaries Accountant, Tax and Subsidiary Companies
• Ruth Clark, Group Financial Controller
• Karen Jones, Finance Business Partner, Professional Services
• James Kitson, Head of Commercialisation
• Professor Karen Rowlingson, Dean of the Faculty of Social Sciences
• Professor Matthias Ruth, Pro-Vice-Chancellor (Research)
• Helen Selvidge, Assistant Director of Human Resources (Specialist Services)

In attendance

• Eleanor Glanvill, PA to the Finance Director (Secretary)
• Deian (Tex) Tecwyn, Lay member
• Owen Trotter, Lay member of Council

Quoracy

The quorum shall be one third of members of the Committee, including at least one student representative.

Subsidiaries Management Group meets five times a year. 

2023/24

2024/25

The minutes from Subsidiaries Management Group's meetings are submitted to the University Executive Board and exceptional matters related to risks and opportunities are reported to Finance and Policy Committee for information, comment, guidance and approval.

For ease of reference companies covered by the Subsidiaries Management Group will be grouped under six broad classifications:

1. Third party traders: Subsidiaries whose business is principally focused on trading externally
2. Intra-group traders: Trading subsidiaries that deliver services mainly to the University itself
3. Others
4. Joint ventures
5. Associates
6. Spin-outs: Companies developed out of intellectual property by the University of York's academic staff and in which the University retains a share-holding.