Mead heads back to school

Mead, who left Goldman last month, and three other investment bankers are among 20 neighbours-cum-shareholders who are transforming an old building in west London into the brand new Notting Hill Preparatory school (NHPS), which will open its doors in September.

As a father of five, Mead, who hit the headlines when his secretary was charged with taking millions from his bank account, has a strong interest in education. His dream of setting up a school became reality in January. John Mackay, former chief executive of broker Seymour Pierce, is a neighbour and learned that the freehold on the Campden Technical Institute had come up for sale. He said: "Actually, someone from my church told me they were thinking of selling the property to housing developers. I felt that while Kensington had no shortage of luxury flats, it did lack schools."

Mead recruited Jane Cameron, headmistress of the nursery school his children attend. A board of governors and full teaching staff are in place.

Mackay said: "In a few years' time, no one will care about all the deals I've done, or about the ups and downs of life in the City of London. This will actually be of benefit and provide a lasting legacy."

Only four of the shareholders are bankers, while the others are from more creative professions. Given that they include a restaurateur, an art gallery owner and a former ballet dancer, children will not be groomed to follow Mead. He said: "Hopefully, the children will turn out to be artists and ballet dancers, rather than investment bankers."