This year, Credit Suisse has once again proven to Asian Private Banker that it leads the region in terms of its philanthropic services to clients, winning the Asian Private Banker Best Private Bank – Philanthropic Services award for the second consecutive year.
Spearheading the bank’s offering is its SymAsia Foundation, launched in early 2010, which continues to receive a tremendous response from clients who view it as a straightforward alternative to setting up their own charitable foundations. In that time, funds committed and disbursed via SymAsia, as well as the number of client foundations set up under it, have doubled, with disbursements being made to more than 60 charitable organisations throughout Asia Pacific.
Credit Suisse’s team of three Singapore-based specialists draws upon each individual’s prior experience working with charitable foundations, to pursue what they believe to be the future of charitable giving in Asia: strategic philanthropy. “If there is no tangible result of the effectiveness of philanthropic giving for the donor, he or she loses interest over a longer period of time,” explains Mae Anderson, Philanthropy Advisor, Private Banking Asia Pacific at Credit Suisse. “Our emphasis for this year has been to work with clients who want a more strategic model of philanthropy. This is a very powerful way of deploying our capabilities and strengths to social efforts.” Accordingly, Anderson and her team are working towards creating bespoke solutions based on viability, sustainability, and local conditions, enabling philanthropists to maximise dollar impact.
Asian Private Banker therefore recognises Credit Suisse’s proactive championing of philanthropic initiatives throughout Asia, its leadership in this space confirming Credit Suisse as the recipient of the Asian Private Banker Best Private Bank – Philanthropic Services award for 2012.