New for 2021, the third event in our Spotlight Private Wealth event series was brought together a panel of leading experts from the private client world to discuss how the sector supports philanthropy through foundations and the opportunities for Jersey to evolve with future demands from global philanthropists who wish to support the United Nations’ Sustainable Development Goals.
The third event in our 2021 Spotlight Private Wealth series was held on 29 October.
Jersey Finance Members can view the event recording via Webinars on Demand.
Speakers and Panellists
Jonathan Sprigg Head of Fiduciary Services, International Client Solutions, Standard Bank
Heather Maizels Senior Advisor, Charles Russell Speechlys LLP
Simon Morgan Director, Private Clients – Jersey, Vistra
Alexa Saunders Partner, Carey Olsen
Quotes From the Audience Q&A
When dealing with charities located in remote jurisdictions and minimal assets and volunteers, what is the most efficient way to verify under Jersey AML regulations?
"I appreciate the question focusses on charities with minimal assets and volunteers. But remembering Jersey’s very tight AML NTF regime which we never want to dampen down. There is nothing like kicking the tyres, as they say."
Given where you sit, Standard Bank, do you rely on your network to a certain degree to help some of the smaller charities?
"Yes, we do. Kicking the tyres is a good analogy of going in and seeing if we are able to leverage the group. The Group normally has connectivity across the continent. We use the Group in different ways, where we’re able to. Where they’ve got connectivity with Standard Bank, we can leverage that."
Philanthropy is one thing but as we move into sustainable finance and impact investing, do clients who set up these structures want reporting on the philanthropic activities as you might do in impact investments? Are investors looking for tools to measure their impact?