Demand for philanthropy advice stays strong, say banks

Finance | Celina Ribeiro | 21 Apr 2009

Barclays Wealth has head-hunted a new head of philanthropy amid increased demand for philanthropic advice in the UK.

Emma Turner has been poached from rival Goldman Sachs to take up the new position of head and director of philanthropy, where she is tasked with educating bankers on how to manage high net worth clients’ philanthropy strategies.

A spokeswoman for the banks said that Turner’s appointment marked the “first time we have taken a tactical approach to philanthropy services” and was in response to growing interest in professional support for philanthropists.

Demand “remains strong”

Maya Prabhu (pictured), senior philanthropy advisor at Coutts & Co, also told Charity News Alert that demand for the bank’s philanthropic services has remained strong.

The company’s forum for philanthropy, taking place today, is significantly oversubscribed, with approximately 140 attendees in comparison to the average attendance figures of around 80.

Two collective giving pilots, covering microfinance and the environment, launched at the height of economic panic in the autumn of last year are also reportedly progressing in line with expectations.

“We’ve seen a great increase in demand in terms of strategic giving,” Prabhu said. “People are still very interested in giving, and perhaps have a little more time free, but they are being a little more selective.”

This news from Barclays and Coutts follows last week’s announcement from New Philanthropy Capital that it is scaling down its research operations in order to concentrate on fulfilling increased demand for advisory services for individual and family foundations.

Who's Who: Celina Ribeiro

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