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The Maudsley Hospital Medical School was opened in 1923 as. It was associated to the Maudsley Hospital, which was established in 1914 to treat the mentally ill. It was officially recognised by the University of London in [1933]. In 1948 it became a founder member of the newly formed British Postgraduate Medical Federation and changed its name to the Institute of Psychiatry. Maudsley Hospital amalgamated with the Bethlem Royal Hospital to form a joint teaching hospital in 1948. The Institute of Psychiatry became a school of King's College London in 1997.
The Finance and General Purposes Committee's functions were to advise on financial matters, scrutinise the strategic plan, and assume responsibility for risk assessment. When the Institute became a school of King's College London in Oct 1997 its functions were reduced, it was henceforth known as the Finance Committee.