News from Cass Business School

Maria Tsakos Foundation donates £500,000 to endow Shipping Campaign

Friday, 8 May, 2009

Cass Business School is delighted to announce a £500,000 donation from the Maria Tsakos Foundation towards the campaign for the Endowment of the Grammenos Centre for Shipping Trade and Finance*.

The gift will endow, in perpetuity, scholarships at the Grammenos Centre for Shipping Trade and Finance for candidates who are Greek and residents of Greece.  The allocation will be for two full-time MSc scholarships and one MPhil.

The School's link with the Foundation comes in the guise of Nikos Tsakos, an alumnus of Cass and CEO of Tsakos Energy Navigation (TEN).  The Foundation was set up in memory of Nikos's grandmother, Maria Tsakos, and is acknowledged for its philanthropic activities and the emphasis it puts on the importance of education for the shipping sector in today's global markets.  The donation is a gesture of recognition of the achievements of Professor Grammenos and the Centre's reputation as the leading global academic and research hub for marine trade and economics.

The Maria Tsakos Foundation considers this new pledge to be a continuation of the standing commitment of my father Capt. P. N. Tsakos to support the young generation to undertake a maritime career in a most professional way.  We are extremely honoured to be associated with such a reputed and widely respected school.

Costas Grammenos, Professor of Shipping, Trade and Finance at Cass commented: It is a pleasure for the School to be in partnership with such a prestigious and effective foundation as the Maria Tsakos Foundation.  Their generous gift is of great importance to Cass as it will ensure that we continue to attract the brightest and best students who wish to pursue academic or professional careers in shipping.  London is the global centre for the full spectrum of business associated with the shipping industry including shipbrokers, insurers, maritime lawyers, bankers and charterers, all of which are concentrated here.  That is why the Centre is so vital to ensuring that the bridge between theory and practice is sustained.

*About the campaign for the Endowment of the Grammenos Centre for Shipping Trade & Finance

In April 2007 Cass Business School launched an ambitious £8m fundraising campaign to secure a permanent and independent future for the Grammenos Centre for Shipping, Trade and Finance.

The three main goals of the campaign are to:
 Enable pioneering and world-class research
 Develop and reward exceptionally talented students
 Nurture and attract brilliant academics

The campaign will raise money to attract academics to the Centre. In turn they will be expected to nurture students to operate at the highest levels of international business, whilst instilling sound values, leadership qualities and intellectual prowess It will also secure the future of 25 specialist Masters modules and develop future academic and research programmes.

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