The Sutton Trust has appointed US-style development board, whose members have each donated at least £30,000.

The 17 members of the advisory and development board have made a donation either as an individual or through their own foundation, as is a common practice in America. The minumum contribution of £30,000 per year is intended to secure the long-term future of the trust. The board is a mix of US and UK businessmen and philanthropists (full list below).

Sir Peter Lampl (pictured), chairman and founder of the Trust, is also on the board. He said: “I am delighted that so many distinguished individuals have agreed to join the Sutton Trust board, committing both their time and resources.”

The Sutton Trust was formed in 1997 with the aim of improving social mobility through education. So far it has published more than 120 research studies and funded and evaluated programmes to help young people. Lampl said: “With the support of the new board, the Trust will be able to increase its impact on the lives and chances of young people.”              

The full board is:

• Stephen Brenninkmeijer, founder of Willow Investments
• Tim Bunting, general partner at Balderton Capital and former vice-chairman of Goldman Sachs International
• Mike Carpenter, CEO, Ally Financial
• Glenn Earle, former managing director and chief operating officer of Goldman Sachs International
• Marc Gabelli, managing partner of Gabelli Securities
• Sir Peter Gershon, chairman of National Grid plc and Tate & Lyle plc
• David Gregson, chairman of Precise Media Group, Crime Reduction Initiatives and the Lawn Tennis Association
• Carol Lake, managing director and head of philanthropy and sponsorship for Europe, Middle East and Africa at JP Morgan
• Sir Peter Lampl, chairman of the Sutton Trust and of the Education Endowment Foundation
• Joe McDevitt, managing director of Pimco
• Harvey McGrath, co-chair, London Enterprise Panel, and chair of governors, Birkbeck College
• Lucy Morris, trustee of CHK charities
• James Sainsbury, trustee of Tedworth Charitable Trust
• Robert Swannell, chairman of Marks and Spencer Group plc
• Ian Watson, chairman of Genagro Ltd
• Deborah Wolfson, trustee of the Wolfson Foundation
• Christopher Wright, Merifin Capital