LGT Private Banking supports clients in every step of their philanthropic journey.
If clients are looking to maximise their philanthropic impact, we’re there to support them throughout their entire philanthropic journey.
~ Nina Hoas, LGT Private Banking
Thinking and acting for the long term is in the DNA of the Princely House of Liechtenstein and is one of the reasons the family has been involved in various charitable causes for centuries. These values are closely reflected in the convictions and strategies of LGT Private Banking.
For over 15 years, the private bank has placed a clear focus on philanthropy in order to help ensure a better tomorrow for society and the environment, and to support clients in maximising their positive impact in this area.
AMPLIFYING IMPACT
Over the centuries, philanthropic principles and approaches have continuously evolved. Unlike in the past, there is now a much greater emphasis on making philanthropic commitments sustainable and scalable in order to amplify their positive impact. In other words, the aim today is not just to do good, but to achieve the best possible outcome with the resources available, which can include experience, expertise and partnerships.
This entrepreneurial approach is one of LGT’s guiding principles in its commitments to society and the environment. The bank’s owner, the Princely House of Liechtenstein, places great importance on developing and aligning its philanthropic activities in such a way that they effectively and efficiently contribute to positive and sustainable change.
It was against this backdrop that LGT established the LGT Venture Philanthropy Foundation in 2007. In addition, with its philanthropy advisory offering, LGT supports clients in every step of their philanthropic journey – from defining their underlying values and areas of engagement to developing a strategy and implementing it successfully.
DRIVING CHANGE
“If you have a medical problem, you go to a doctor and if you have legal issues, you talk to a lawyer,” says Nina Hoas, head of LGT’s philanthropy advisory division. “So if clients are looking to maximise their philanthropic impact, we’re there to support them throughout their entire philanthropic journey, which often spans generations.
This process begins, Hoas explains, with developing a vision and a concrete mission. “Using that as a basis, we then build a philanthropic strategy with them and together define a clear process for achieving long-term impact.”
But in addition to being beneficial for individuals who are new to philanthropy, the advice provided by LGT’s philanthropy advisory team can also help philanthropists who have been working in the field for many years. “Experienced philanthropists also want to talk to experts with an in-depth knowledge of relevant topics, and want to learn about new opportunities in philanthropy,” says Hoas. There is no lack of compassion and commitment in today’s world. But the sheer complexity of social and environmental problems can make it difficult to effect positive change. “There are so many people who have the best intentions but who don’t achieve the impact and effect they are striving for,” says Hoas.
“This might be due to hierarchies, or a lack of coordination within the family. Or it could be the result of a lack of strategy, or because they’re simply too far removed from the problem. I’m convinced that strategic philanthropy is the key to lasting change.”
LGT Private Banking has won the Outstanding Philanthropy Offering award at the PBI Global Wealth Awards 2023.