Following the success of Coutts’ philanthropy services in the UK, RBS Coutts, the international arm of Coutts, is now planning to extend these services globally. Coutts will continue, on an international scale, the work it has been doing with its UK-based clients in recent years. This involves understanding the motivations and objectives for their philanthropy, helping them to develop their own personal giving strategies, and enabling them to meet other philanthropists through the Coutts Forums for Philanthropy.
The team also helps clients increase the impact of their philanthropy by providing opportunities to learn about new areas of social need where they can give collectively with other philanthropists. Coutts is currently piloting two pooled funds, one relating to microfinance and another relating to the environment.
Mark Evans, head of the bank’s Wealth Institute, has recently visited the Far East, the Middle East, Switzerland and the Caribbean to advise and support local offices. He and Maya Prabhu, head of UK Philanthropy at Coutts, are providing one-to-one advice to clients and they will be training members of RBS Coutts’ wealth planning team and selected bankers.
In the UK, Coutts’ philanthropy services are provided in-house by philanthropy specialists who work in association with independent organizations, both formally and informally, so as to provide clients with the best possible advice. Partners include Charities Aid Foundation, New Philanthropy Capital and Community Foundation Network. They will look to replicate this model in other countries.
Coutts was the first UK private bank to provide philanthropy advisory services to wealthy clients. Last year, it was also the first private bank to launch a charitable giving account, designed exclusively for payments made to charitable causes. Research carried out by Coutts has shown that offering philanthropy services has had an impact on the bottom line. It has increased client trust and loyalty, increased Coutts’ share of clients’ private banking, and helped to differentiate it from other private banks.
For more information
Contact Maya Prabhu at Maya.Prabhu@Coutts.com or visit http://www.coutts.com/philanthropy