Beacon Award for City Philanthropy
Eleventh generation private banker Alexander Hoare is aiming to move the dial on social investment. He has now committed more than £2m of the bank’s £10m Golden Bottle Trust endowment in a diversified portfolio of debt, equity and venture investment in ‘social-first’ entities. He believes every portfolio should include such investments that offer small uncorrelated return.
For the last decade Alexander has been leading the Hoare family’s philanthropy which has been at the heart of the private bank since it was established in the 17th century. The Golden Bottle Trust, set up in 1985, has given more than £16m to hundreds of arts, environmental, educational and health charities.
Alexander is convinced that philanthropy and social investment will continue to grow: “The new generation, the millennials, will see capital as a source for doing good as core.”