According to Hannah fern in the "times Higher Education" University of Oxford creates Europe's first academic school of management. This was made possible thanks to the largest donation in the entire 900-year history of the University. On the establishment of a new faculty, American industrialist Leonard Blavatnik has donated 75 million pounds. An additional 26 million pounds allocated itself. The first students of the faculty of management, named for the philanthropist School of management named after Blavatnik, will in 2012. For teaching will be invited the best professors of the world. On the wording of the University's new faculty "will be to teach outstanding specialists around the world the skills and responsibility of management".