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Private Banking: Philanthropy – The Altruistic Angle

Private bankers are thinking more about how to assign part of the money from their high net worth clients to foundations. A few years ago Mexican tycoon Carlos Slim caused a stir when he declared that “poverty can’t be solved with donations,” a comment that angered many coming from “the richest man in the world.” However, what Slim meant to express was his skepticism for philanthropy without goals, something he continues to believe to this day. The magnate thinks that indiscriminate donations are not sufficient alone. Rather, they need to be focused on concrete projects where they can be followed […]
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