London School of Economics
The London School of Economics was founded in 1895 by Beatrice and Sidney Webb, initially funded by a bequest of £20,000 from the estate of Henry Hunt Hutchinson. Hutchinson, a lawyer and member of the Fabian Society, left the money in trust, to be put "towards advancing its [The Fabian Society's] objects in any way they [the trustees] deem advisable". The five trustees were Sidney Webb, Edward Pease, Constance Hutchinson, William de Mattos and William Clark.
University College London
In 1827, the Chair of Political Economy at London University was created, with John Ramsay McCulloch as the first incumbent, establishing one of the first departments of economics in England. In 1828 the university became the first in England to offer English as a subject and the teaching of Classics and medicine began. In 1830, London University founded the London University School, which would later become University College School. In 1833, the university appointed Alexander Maconochie, Secretary to the Royal Geographical Society, as the first professor of geography in the UK. In 1834, University College Hospital (originally North London Hospital) opened as a teaching hospital for the university's medical school.