The Big Society Trust, which oversees the work of social finance bodies including Big Society Capital, has changed its name to the Oversight Trust – Assets for the Common Good.
The trust was established in 2012 to oversee the work of Big Society Capital, which uses unclaimed asset monies from bank and building society accounts to develop the social investment market.
Since then, BST has become an umbrella body that oversees four voluntary sector finance organisations – Access – The Foundation for Social Investment, Fair4All Finance and the Youth Futures Foundation – which were created by the trust with funding from the English allocation of unclaimed assets in the UK.
The trust said the change would reflect its wider remit, because the number of entities it oversees had grown since it was first set up.
A spokeswoman for Big Society Capital said that, despite the trust changing its name, its "remit remains the same: to act as a social investment wholesaler and to promote the development of the social investment marketplace in the UK, while seeking to achieve and maintain financial sustainability”.
The trust said in a statement that it would continue to ensure that all four bodies “fulfil their objectives” and “are governed well”.
Sir Stuart Etherington has been appointed as the trust’s new chair.
Etherington, who stepped down as chief executive at the National Council for Voluntary Organisations in December 2019 after 25 years in the role, succeeded Robin Budenberg on 8 June. Budenberg will remain on the board.
The trust said it had appointed four new board members: Clara Barby, chief executive of the Impact Management Project, Kevin Davis, group chief executive of the Vine Trust, Helen England, vice chair of United Response, and Andrew Rose, former chief executive of the Homes and Communities Agency.