Alliance interviews experts inside and outside banks, who explain what philanthropy advice in banks is really about. Contributors include Swiss philanthropist Yann Borgstedt, founder of Womanity Foundation, Neville Gabriel ,CEO of The Other Foundation, Buzz Schmidt, chairman of the Heron Foundation, and numerous bank advisors and commentators.
The Financial Times noted in 2012 that ‘in less than a decade, philanthropy offices have become an integral part of the world’s largest private banks and wealth management providers’. Among those cited by the article were Barclays Wealth, Kleinwort Benson, Standard Chartered and JP Morgan Private Banks. Many others, national and international, could be added to the list.
Why do banks offer advice on philanthropy? Are there are any drawbacks? How, if at all, does their work mesh with other specialist philanthropy advisers? Alliance explored these questions with some of those involved in the philanthropy ecosystem both inside and outside private banks. Continue reading