The Business School of City, University of London has been renamed as Bayes Business School ahead of the 2021/22 academic year. The School, formerly known as Cass Business School, took the decision in a bid to increase its focus on diversity, equity, and inclusion. In June 2020, there was increasing awareness of the links between Sir John Cass and the slave trade, which made the School, and its stakeholders, reflect on whether such a link was consistent with the School's values.
The School is now renamed after Thomas Bayes, a theologian and mathematician who is best known for Bayes' Theorem, which suggests we get closer to the truth by constantly updating our beliefs. Bayes' name was selected after a comprehensive and transparent consultation process, which was carried out with staff, students, alumni and partners.
Bayes' ideas are integral to finance, actuarial science, and many branches of management, which are the core disciplines of the B-School. The official release said that Bayes' ideas are also the foundation of artificial intelligence and machine learning.
"The decision to rename the Business School marks the beginning of an exciting new chapter and is reflective of the values we hold as a University. It is an important part of our ongoing work to address racial inequality across City and we are committed to doing everything we can to ensure that we are a diverse and inclusive place to work and study," Julia Palca, Chair of City's Council, said in a statement.
What's changed beyond the name?
There's more to the new name. Bayes Business School is addressing inequality and participation more widely. The School is also undergoing a complete curriculum review to integrate ethical and socially responsible values and ensure that Bayes educates professionals and business leaders who work towards building an equitable and sustainable future.
Bayes has instituted a scholarship programme for Black UK-domiciled undergrad students to widen participation. Under this, all tuition fees will be covered for 10 students for 2022/23 academic year and even provide annual stipend.