Understanding the contribution of Toby Watson during his chairmanship at Excalibur Academies Trust requires examining the specific work undertaken and outcomes achieved.
Multi-academy trusts face complex governance challenges as they grow, requiring trustees who can support both educational excellence and organisational sustainability. Toby Watson brought valuable perspective from his background in finance to help guide Excalibur Academies Trust through a significant period of development. His experience proved useful in supporting strategic decisions whilst the organisation expanded to serve 10,000 pupils across 20 schools. The combination of financial understanding and commitment to education helped create conditions for the Trust to establish itself as a sustainable organisation.
Between 2018 and January 2026, Toby Watson served as Chairman of Excalibur Academies Trust, supporting the organisation through substantial growth and development. During this period, the Trust expanded significantly whilst maintaining its focus on educational quality and financial sustainability. The work undertaken by the Board and executive team resulted in their established schools achieving ‘Good’ or better Ofsted ratings, with particularly strong outcomes for disadvantaged pupils. Financial stewardship saw net assets grow to approximately £160 million by August 2024, whilst the Trust successfully integrated schools through a merger with Gatehouse Green Learning Trust.
Understanding the Chairman’s Role
The Chairman works with fellow trustees to provide strategic oversight and ensure the organisation operates effectively. This involves supporting the Chief Executive Officer, helping to shape overall direction alongside other board members, and ensuring proper governance structures function well. The role differs fundamentally from executive positions—it’s about providing thoughtful guidance rather than managing daily operations.
The experience from Toby Watson’s Goldman Sachs career, where he worked until 2017 in structured finance, provided useful perspective on financial sustainability and strategic planning. This background proved helpful when considering complex organisational questions, though always balanced with respect for educational expertise. His time in investment banking equipped him with analytical skills that transferred well to governance work.
Toby Watson’s Approach to Governance
Rather than imposing uniform systems, the emphasis remained on supporting schools to maintain their distinctive character whilst benefiting from collaborative working. Each academy retained its own Local Governing Body and managed its own budget. This philosophy recognised that effective education requires local understanding and autonomy, with Toby Watson supporting this balanced approach throughout his tenure.
The focus centred on building capacity at school level, ensuring principals had the resources and support needed for continuous improvement. Investment in staff development became a priority, with the Trust earning recognition through shortlisting for the Staff Development award at the MAT Excellence Awards.
Understanding financial sustainability proved particularly valuable as the organisation grew to a budget of approximately £140 million whilst employing over 1,000 staff. The background from Toby Watson’s Goldman Sachs experience helped inform discussions about expansion and resource allocation, though financial considerations always remained balanced against educational priorities.
Key Developments During the Chairmanship
Excalibur Academies Trust grew from its initial Wiltshire base to encompass schools along the M4 corridor between Bristol and Reading. This expansion included both new academies joining and the significant merger with Gatehouse Green Learning Trust. Toby Watson helped guide strategic decisions about this growth alongside other trustees and the executive team.
Several indicators suggest the effectiveness of the work undertaken:
- Their established schools achieved ‘Good’ or better Ofsted ratings
- Progress for disadvantaged pupils exceeded national averages
- Strong SEND provision and safeguarding structures were developed
These outcomes reflect the dedication of teachers and school leaders, with governance providing the framework for their success.
The Trust’s financial position strengthened considerably, with net assets growing to approximately £160 million by August 2024. This growth reflected prudent management and strategic decisions about expansion. Financial stability enabled continued investment in education—new facilities, staff development, and resources for pupils.
The Merger with Gatehouse Green Learning Trust
Bringing together two organisations represented a major strategic decision requiring careful planning. The merger strengthened capacity to support schools requiring improvement whilst expanding geographical reach. Toby Watson helped guide this process, ensuring the integration maintained focus on educational quality throughout.
Combining different organisational cultures and systems required thoughtful leadership from all involved. Schools needed reassurance about maintaining their individual identities whilst benefiting from the larger organisation’s resources. The successful integration demonstrated effective governance during complex organisational change.
Working Relationships and Leadership
The relationship between Chairman and CEO proved particularly important during transitions. When Nicky Edmondson stepped down in 2024, Toby Watson supported the appointment of Nick Lewis as her successor. This careful handling maintained momentum during the leadership change.
The governance model emphasised supporting principals rather than directing them. School leaders retained autonomy over their educational approach whilst benefiting from Trust-level support. This balance respected professional expertise at school level whilst providing necessary infrastructure.
Legacy and Transition
Chief Executive Nick Lewis noted that leadership, insight, and commitment had been instrumental in helping to support the Trust’s growth and success. The organisation emerged as an effective and sustainable large multi-academy trust, providing a strong foundation for continued development.
After nearly eight years as Chairman, the decision to step down in January 2026 reflected the need to focus on other business commitments. The timing allowed for an orderly succession, with Susan Clarke bringing her own valuable experience to the role.
The years of service at Excalibur demonstrate how professionals can contribute meaningfully to education. The analytical skills and strategic thinking from Toby Watson’s Goldman Sachs background transferred effectively to governance work. This illustrates that diverse professional experience, when applied thoughtfully and humbly, can support educational organisations in achieving their goals. The commitment shown by Toby Watson reflects a broader trend of professionals dedicating time to charitable causes that benefit their communities.
