The Department of Financial Management became an independent department within the Faculty of Economic and Management Sciences on 1 January 2002. Previously, Financial Management was a division in the Department of Business Management, and Investment Management originated as a separate discipline in this division in 1999.
In November 1999, the division Financial Management was transferred to the Department of Accounting and the name of the Department changed to Accounting and Finance. With the unbundling of the Department of Accounting and Finance and the School of Accountancy at the end of 2001, Financial Management became an independent Department and also incorporated Management Accounting.