Cass Business School moved to new premises in the London Borough of Islington, and changed its name as part of a strategy formed by Lord Currie of Marylebone, who had become Dean the year before, to compete as an international business school in a market dominated by US universities. The school had previously been spread out across the City of London's mainly residential Barbican Centre development. Half of the £40 million funding for the new building came from the reserves of City, University of London. The school also received a gift from Sir John Cass's Foundation, founded in 1748 to educate children in
London Guildhall University the Sir John Cass College of Arts and Science to form the City of London Polytechnic, which remained under the control of the Inner London Education Authority (part of the Greater London Council) until the passing of the Education Reform Act 1988. The London College of Furniture was incorporated into the polytechnic in 1990. Under the Further and Higher Education Act 1992 the polytechnic was awarded university status, previously having awarded the degrees of the former Council for National Academic Awards. London Guildhall University was named to show its links with the City of London and the City's many guilds/livery