Professor George Holmes has been fired as vice chancellor of the University of Greater Manchester, an institution currently at the center of a police investigation into alleged financial irregularities, including money laundering and bribery. Holmes had led the university for two decades.
The dismissal follows an inquiry by Greater Manchester Police's major incident team, which was launched last year after allegations of racism, financial misconduct, and bullying surfaced. A report from accounting firm PricewaterhouseCoopers, commissioned by the university's fraud response panel, was subsequently passed to the police.
Three individuals, two men in their 60s and a woman in her 50s, were arrested last month on suspicion of money laundering as part of the investigation. One of the men was also questioned on suspicion of fraud and bribery. Detectives are reportedly analyzing approximately 60 transactions and over a million emails.
Professor Holmes had previously faced public scrutiny for his wealth and salary. In 2018, he was criticized for publicly stating that vice chancellors were underpaid, despite owning a Rolls-Royce, a Bentley, and sailing a yacht. The University and College Union at the time accused him of exhibiting an "embarrassing lack of self-awareness when it comes to his pay." Three years prior, his university had loaned him £1 million to purchase a home, despite his salary then being nearly £200,000.
In the 2023-24 academic year, Holmes's remuneration package totaled £359,592, including a basic salary of £292,119. He was suspended by the university in May 2025 along with two senior staff members.
Officers raided seven homes across the country on July 8 as part of their investigation. Properties were later raided in Bolton, Humberside, West Yorkshire, and Lancashire. Assistant Chief Constable Rick Jackson stated that the investigation is significant and complex, with detectives focusing on students whose university experience may have been impacted by funds allegedly used for personal gain instead of education.
The University of Greater Manchester, which has about 900 staff and 11,000 students, adopted its current name in 2024; it was previously known as the University of Bolton. The university has stated it is cooperating fully with the police investigation.
Dr. Greg Walker is currently serving as acting vice chancellor until a permanent replacement is appointed. The local Member of Parliament, Phil Brickell, welcomed the dismissal, stating it would allow the university to focus on restoring confidence and ensuring strong governance, transparency, and a commitment to educational excellence.