BW supports Chapter of York with new appointment

The governing body of one of the world’s most magnificent cathedrals, York Minster, has appointed Barnett Waddingham (BW) to initiate an investment strategy review of the organisation’s endowed and non-endowed assets totalling c. £35m.

BW will assess the investment objectives of the Chapter of York and the organisation will consider a wide range of views from internal stakeholders to implement a strategy which best suits the income and longer-term growth of the Minster’s assets. Once the strategy is implemented, BW will work with Chapter to ensure the invested asset strategy is the most appropriate and will continue to evaluate ongoing performance and investment manager stability.

York Minster’s investment strategy will be supported by a dedicated BW team including Chris Binns, Partner and Matt Hurshman, Investment Consultant.

Chris Binns, Partner at BW, said: “York Minster is a well-respected and visible institution and we are looking forward to supporting Chapter and everything it does for the local community and beyond.

“We are aware of the challenges of funding and maintaining all the excellent work the Chapter of York does, and we can see the real-life impact that a successful strategy has in supporting this work well into the future. Our dedicated team will work together with the Chapter of York to ensure the assets are suitably invested to support the financial obligations of maintaining the Minster and other properties as well as delivery of Chapter’s wider charitable objectives as a newly registered charity."

Jo Clarkson, Chief Finance Officer at York Minster, said: “We have been thoroughly impressed with Barnett Waddingham throughout the entire process; they understood where we were and the matters we wish to address in the initial review as well as being flexible on our ongoing needs.

“The process was well handled and we are really excited to be working together on our investment strategy.”