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| The StanChart Private Bank launches 'Investing for a Better Future' |
| Announcement / Banking Aug 06, 2009, 19:38 IST |
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The Standard Chartered Private Bank today announces the launch of its unique philanthropy programme - ‘Investing for a Better Future’. This comprehensive programme, offers clients customised philanthropic advice from experts and the option of co-investing with the Private Bank to fund three projects through the Bank’s Seeing is Believing global campaign. Also the programme provides clients with an opportunity to experience voluntary internships with the Bank’s partner charities.
Despite the global financial crisis, the appetite for philanthropy among High Net Worth individuals remains undiminished. It is estimated that philanthropy will be one of the key beneficiaries of the US$41 trillion intergenerational transfer of wealth that will take place between 1998 and 2052. At the same time, High Net Worth individuals are increasingly seeking advice on their philanthropic giving and the means to ensure that the impact of their philanthropy is monitored and measured.
Peter Flavel, Global Head, The Standard Chartered Private Bank said:
“As we continue to grow, our Private Bank clients are asking us to help them invest in philanthropy programmes. They want to see tangible results in their lifetime. Through our partnership with SiB this programme delivers on that objective.”
‘Investing for a Better Future’ addresses this increasing demand for charitable giving by offering clients access to three distinct philanthropic opportunities:
- Seeing is Believing – clients can partner with the Private Bank and give directly to Seeing is Believing (SiB), the Bank’s global campaign to tackle avoidable blindness. Over five years, the Private Bank aims to fund three projects as part of SiB, starting with one in Kolkata, India. Alternatively, The Private Bank has established a tailored deposit account which enables clients to give easily. It allows credit interest from the account to be automatically transferred to a fund for the SiB projects. A defining feature of this programme is that Standard Chartered will match every donation dollar for dollar (up to a collective target of US$20 million).
- Advisory Service – aimed at clients who require tailored strategic advice on their philanthropic giving, which reflects their personal interests and planned financial commitments. Expert advice on all areas of philanthropy and customised philanthropy plans that are created by the Bank’s internal fiduciary experts as well as a panel of external experts* - Investing for Good, Global Philanthropic, New Philanthropy Capital.
- Education and Involvement – an opportunity for those who want to give more than money. The Bank has developed a selection of education programmes and voluntary internships in partnership with a number of charities and community initiatives; including Sight Savers International and Goal. These range from ad-hoc volunteering projects and tours to internships lasting from three months to one year. The aim of this is to enable clients and their families to be engaged, involved and informed philanthropists.
Jacqui Brabazon, Global Head of Marketing, Philanthropy and Key Clients at The Standard Chartered Private Bank, said:
“At Standard Chartered, we believe that with wealth comes responsibility and together with our clients we want our individual action to make a collective difference. The Standard Chartered Private Bank has valuable resources to help clients achieve their philanthropic objectives. Following discussions with our clients we have developed Investing for a Better Future a three-pillar programme which makes giving easier and more meaningful and enables our clients to become more actively involved in the philanthropic process.”
“Not only do we engage with clients on philanthropy, the Bank also encourages staff involvement with our global campaign, Seeing is Believing. This is demonstrated by the partnership of staff and clients to raise funds to support three SiB projects over five years, to prevent avoidable blindness.”
The Standard Chartered Private Bank
The Standard Chartered Private Bank's heritage stems from over 150 years of international banking excellence that is the Standard Chartered Bank.
The Standard Chartered Private Bank works with clients and their families to understand not just their financial goals but also their fundamental beliefs and values. By offering true open architecture and best of breed products as well as delivering first-class service for the daily banking needs of its clients, The Standard Chartered Private Bank is ideally placed to help clients achieve what they want from their wealth.
We draw on the strength of the Standard Chartered Bank network to deliver a portfolio that is truly personal to the individual. Our clients benefit from a broad array of specialised products and services that can better meet complex needs as their wealth grows, ranging from margin trading, complex credit solutions, structured products, commodities and estate planning, to a wide range of investment products including mutual funds and discretionary portfolios, to the transactional deposits and savings accounts.
About Seeing is Believing (SiB)
Seeing is Believing (SiB) is a global initiative to help tackle avoidable blindness, and is a collaboration between Standard Chartered and the International Agency for Prevention of Blindness (IAPB) (registered charity, No. 1100559). IAPB is the leading umbrella organisation for NGOs working in the field of eye care. Together with the World Health Organisation, it launched ‘Vision 2020: The Right to Sight’, a global campaign to eliminate avoidable blindness by 2020.
To date, Seeing is Believing has raised over US$ 17 million for blindness initiatives and plans to invest a further US$ 20 million by 2014. Seeing is Believing is the single largest contributor to the development of Vision 2020 programmes through IAPB.
For more information, visit www.seeingisbelieving.org.uk
About Goal
Goal is a Standard Chartered Bank community investment initiative which uses sport and life skills education to transform the lives of disadvantaged girls and young women in India. The programme empowers adolescent girls living in urban settings for personal and economic development, providing knowledge and offering a safe place to play. Goal is a multi-stakeholder initiative that works in partnership with the Naz India Foundation Trust, the International Federation of Netball Associations, and the Population Council. Since 2006, Goal has directly reached 500 girls, and touched nearly 25,000 families and community members across two cities in India. The programme plans to expand globally and reach 100,000 girls by 2012.
For more information, see www.goalgirlsindia.com
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