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Subsidiaries Management Group

Subsidiaries Management Group reports to University Executive Board.

Terms of reference

Objectives

The Subsidiaries Management Group oversees the operational performance, stewardship and governance of the University's subsidiaries, joint ventures and associates. 

It aims to:

  • improve decision making within the subsidiaries;
  • align subsidiary activities with the direction of the University;
  • ensure consistent controls and processes in subsidiaries with those of the University;
  • make recommendations regarding the strategic direction and fit of subsidiaries to University goals.
Remit
  • 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.
Members
  • Nigel Alcock, Chief Financial and Operating Officer
  • Professor Ken Badcock, Deputy Vice-Chancellor (Chair)
  • Jamie Holliday, Finance Director
  • Justine Daniels, Director of Research, Innovation and Knowledge Exchange
  • Matthew Dearlove, Subsidiaries Accountant, Tax and Subsidiary Companies
  • Karen Jones, Finance Business Partner, Professional Services
  • James Kitson, Head of Commercialisation
  • Professor Karen Rowlingson, Dean of the Faculty of Social Sciences
  • Sarah Thompson, Pro-Vice-Chancellor (Research)
  • Helen Selvidge, Assistant Director of Human Resources (Specialist Services)
  • Lisa Woods, Director of Accommodation, Campus and Commercial Services

In attendance

  • Catherine Browne, PS Central Admin Manager (Secretary)
  • Owen Trotter, Lay member of Council

Quoracy

The quorum shall be one third of members of the Committee.

Meetings

Subsidiaries Management Group meets five times a year. 

2024/25

Date Time
Friday 20 September 9 to 11.30am
Wednesday 9 October 9 to 10am
Thursday 28 November 1 to 3.30pm
Friday 24 January 9.30am to 12 noon
Wednesday 19 February 2pm to 4.30pm
Thursday 3 April 10am to 12.30pm
Thursday 8 May 10am to 11.30pm
Thursday 5 June 9.30am to 12 noon
Monday 14 July 1pm to 2.30pm

2025/26

Date Time
24 September 12.30pm to 3pm
26 November 3pm to 5.30pm
23 February 2pm to 4.30pm
15 April 1pm to 3.30pm
4 June 10am to 12.30pm
Minutes

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.

Classification of companies

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.

Parent committee and associated subcommittees

Contact us

Chair: Ken Badcock

Deputy Vice-Chancellor

For agendas and minutes: Catherine Browne

Central Administration Service