What does the future hold for private client philanthropy? We have witnessed a marked shift in recent years; one that is becoming a global phenomenon. Ultra-high-net-worth (UHNW) individuals and their families are increasingly moving away from simple charitable donations, where the recipient would spend the money as they see fit, and towards a much more dynamic, innovative and hands-on approach. The lines between philanthropy and business are blurring as wealthy donors seek active involvement in the management of their charitable funds, applying the same principles of control and accountability as they would for their regular investments.
While historically we have found US clients to be more philanthropically focused than those in Europe and Asia, we are now seeing an increased emphasis on philanthropy overall. But how exactly is philanthropy among UHNW families evolving in different parts of the world? In the latest edition of the International Family Offices Journal, Kevin O’Connell takes a detailed look at philanthropic activity in a number of key regions; namely the Middle East, Asia, Europe and the United States.
To read Kevin’s article in PDF format, please click the link below. If you wish, you may also order a copy of the complete journal.
Kevin O’Connell is Group Chief Commercial Officer for First Names and its parent company, SGG Group. An integral member of the senior leadership team, Kevin holds primary responsibility for driving the Group’s organic growth strategy while also servicing a number of complex trust-based family relationships.
This article has been issued by First Names Management Limited on behalf of certain companies that form part of First Names Group. The article has been prepared for general circulation to clients and intermediaries, and does not have regard to the particular circumstances or needs of any specific person who may read it. Nothing in this article constitutes legal, accounting, tax or investment advice.
The information contained in this article has been compiled by First Names Management Limited and/or its affiliates from sources believed to be reliable, but no representation or warranty, express or implied is made to its accuracy, completeness or correctness. All opinions and estimates contained in this report are judgements as of the date of publication, and are provided in good faith but without legal responsibility.