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From the Financial Times (May 22, 2007):

John Studzinski, the banker and philanthropist, has donated £5m to Tate Modern – the gallery’s largest private gift.

The money is earmarked for the building of the gallery’s new£215m extension, designed by Herzog & de Meuron, the architects’ practice, which received planning permission in March.

Sir Nicholas Serota, the director of the Tate galleries, described the gift as “a magnificent act of faith in a project that will transform the building and provide improved facilities for the next generation of visitors”.

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