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
City of London School them that any such behaviour would result in their UCAS forms being 'ripped up'. Today, the City of London School's policies are maintained by a board of governors. It continues to be under the governance of the City of London Corporation] (the governing body of the City of London headed by the Lord Mayor of the City of London, as opposed to Greater London, as well as an independent corporation). The school is under the governance of the City of London Corporation's corporate arm as opposed to its Local Authority arm. The school is one of the three independent schools