Tera Allas CBE will join the think-tank’s trustees.
Tera Allas CBE joins think tank Pro Bono Economics (PBE) as its new chair of trustees.
PBE uses economic analysis and the unique insights from the social sector to address the causes and consequences of low wellbeing in the UK.
Lord Gus O’Donnell who has held the position since 2016 will become Honorary President and continue being an ambassador for PBE’s work.
Tera’s appointment is a significant milestone as PBE adopts its new three-year strategy, expanding the way it tackles the causes of low wellbeing and creating new ways for economists to make a positive difference in the world.
The appointment of the new chair also highlights PBE's cross sector approach to working with economists, business, government, and the social sector; and its commitment to producing robust evidence that informs and addresses society’s most complex challenges.
Allas starts the role officially in January 2025 and long-standing trustee David Gregson will be interim chair.
Tera Allas, currently Director of Research and Economics at McKinsey & Company, is a highly respected economist and thought leader and brings over 30 years of expertise in strategy, corporate finance, and public policy.
In her role at McKinsey, she leads research on macroeconomic trends, productivity, and growth. Tera also serves on multiple advisory groups and boards, including as Chair of The Productivity Institute’s Advisory Committee, trustee of Be the Business, and is a former trustee of the Royal Economic Society.
She was appointed Commander of the Order of the British Empire (CBE) in 2019 for her contributions to economic policy.
Tera Allas, incoming chair of trustees, PBE: “I am passionate about understanding and addressing the causes and consequences of low wellbeing – and am encouraged to see continuous improvement in the theory, measurement, empirical evidence, and practical interventions.
“Tackling low wellbeing is both an economic and ethical imperative, and charities and social enterprises play a vital role, working with government and business.
“By taking the time to truly grasp the complex issues related to wellbeing, and by using robust evidence along with charities’ front-line experience, we can together make a systemic difference at a national level.
“Charities and social enterprises are already improving peoples’ lives in multiple, material ways and have the potential to do so much more, if given the opportunity, tools and support to thrive. PBE’s work in supporting charities to understand, improve and communicate their impact is therefore invaluable.
“I look forward to PBE supporting even more charities with their impact and leading the conversation advocating for systems, policies, and interventions that will drive meaningful change and improve wellbeing across the UK.”
Lord Gus O’Donnell leaves the role after eight years of impact.
During Gus’s time as chair, PBE has delivered national policy change on charitable giving, data, and the relationship between civil servants and charities.
PBE’s social sector insight and research has helped secure over £1billion of government funding for causes including children’s services and numeracy education. In 2023, it helped secure £100million of funding for charities struggling with the cost of living.
Lord Gus O’Donnell, Honorary President, PBE: “In my time as Chair, I’ve seen PBE go from strength to strength since its early days delivering pro bono economic analysis support for charities and social enterprises. This progress is down to a dedicated staff team, Matt as a fantastic CEO, and wonderful trustees.
“PBE’s groundbreaking work on the Law Family Commission on Civil Society has helped civil servants understand the potential and challenges facing charities, given the social sector a vital platform, and has brought government closer to civil society. But there is still more to do.
“I’m looking forward to supporting Tera and the board as Honorary President and to continue to deliver on PBE's ambitious three-year strategy.”
Since 2020 alone, PBE has supported over 600 social purpose organisations and charities to better use their data with the help of skilled economists and analysts.
Matt Whittaker, CEO, PBE: “Tera’s exceptional leadership and deep expertise will be invaluable as we increase our impact and further our mission to improve wellbeing in the UK. We are incredibly grateful to Gus for his significant contribution and mentorship – so much so that we have created this new role, so he continues to be part of PBE’s future. It is an exciting new chapter for PBE and we are confident it will be a great one under Tera’s leadership.”
