Over the last few years, a substantial number of private banks have started to offer philanthropic services, driven by a very distinct client need to be provided with professional assistance with charity and philanthropy. The market – traditionally strong in the US – has rapidly picked up in Europe and is currently estimated at more than 500 billion USD globally and annually. Client motivations to donate to charity vary widely, from tax considerations to building ‘personal legacies’ – and so vary the business models and motivations to run philanthropic operations within or connected with banks. What they all have in common is a strong effect on the bank’s reputation and the deepening of the client relationships – which ultimately provides value to the banks, both from a marketing, but also from an overall strategic perspective.

In today’s interview, Wolfgang Hafenmayer of LGT Venture Philanthropy provides insight into their organization and their approach to giving. The initiative was started by LGT’s owner family and is now gradually growing with new clients. Of particular interest is the blend of charitable giving and venture capital, ensuring a stringent approach both to the selection and to the oversight of supported organizations (for an in-depth description of the approach, please refer to the website)

Michael Stoeckli

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