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.
London
A number of world-leading education institutions are based in London. In the 2014/15 "QS World University Rankings", Imperial College London is ranked joint 2nd in the world, University College London (UCL) is ranked 5th, and King's College London (KCL) is ranked 16th. The London School of Economics has been described as the world's leading social science institution for both teaching and research. The London Business School is considered one of the world's leading business schools and in 2015 its MBA programme was ranked second best in the world by the "Financial Times".