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 Metropolitan University not function in practice, as each institution continued to operate more or less independently. The City Polytechnic concept was dissolved in 1906 and the City of London College came under the supervision of London County Council. In December 1940 the college's building was destroyed by a German air raid. City of London College subsequently moved into premises at 84 Moorgate in 1944. In 1948, the City of London College celebrated its centenary with a service of thanksgiving addressed by the Archbishop of Canterbury at St Paul's Cathedral. In 1970 the college merged with Sir John Cass College to form the