Prominent business leader to head orchestra fundraising body.
The City of Birmingham Symphony Orchestra has appointed Chris Loughran, Senior Partner for the Midlands at Deloitte and one of Birmingham’s most prominent business leaders, as Chairman of the CBSO Development Trust.
The CBSO Development Trust supports the orchestra’s day-to-day fundraising work, and has particular responsibility for building up and managing its private endowment – a capital sum that is being accumulated over time through legacies and major gifts to secure the long term future of the orchestra. As chairman of the Trust Mr Loughran will encourage financial support for the orchestra and will champion its value to Birmingham, the West Midlands and the UK. He will also strengthen the trust with further senior appointments, and will oversee the professional management of its investments.
The CBSO’s public funding has been reduced by 24% in real terms since 2010. Private funders have never been more important in securing the orchestra’s world-class excellence – and the Development Trust is at the heart of the orchestra’s work attracting greater levels of support. Gifts made to the Endowment before July 2015 are being matched by Arts Council England up to a total of £1 million. £560,000 has been raised so far.
Mr Loughran said: “I am delighted to be undertaking this role. Music is one of my passions, and having attended CBSO concerts since I was a child I am very proud of the orchestra in its own right, but also for everything it brings to our great city. Institutions like the CBSO help attract inward investment: when major companies move out of London and bring jobs and investment to Birmingham, they do so partly because the city’s cultural life makes it such a great place to live. Without the CBSO, Birmingham would be poorer culturally but also financially.
“There are a number of challenges facing arts funding. We’ve long been fortunate that the cultural establishment has been supported by the public purse, but the pressures on that purse continue to increase, and the future of the arts depends more than ever before on increased private support. I look forward to doing what I can to ensure the future of this great organisation.”
Simon Fairclough, CBSO Director of Development, said: “To have one of Birmingham’s foremost business leaders at the helm of the Development Trust is a great coup for the Orchestra. Chris’ professional expertise, personal commitment, extensive network and in-depth understanding of the financial landscape are a potent combination. We are delighted to have him on board and we look forward to working with him.”