COUTTS PHILANTHROPY LAUNCH

Coutts announces the launch of a major philanthropy initiative in conjunction with the Charities Aid Foundation (CAF) and Community Foundation Network (CFN) to help its clients with a more effective charitable giving strategy.

Coutts has always found philanthropy to be an important issue for its clients and has been setting up charitable foundations and managing trust assets for generations. However, we know many clients do not have the time to consider how best to channel their generosity. Now, as part of our discussions around a client’s wealth, private bankers will establish if a client has interests in charitable giving and determine their aims and objectives. They may then make an introduction to either CAF or CFN who offer the underlying services. Coutts believes that it is the first bank to offer such a choice.

There are now three potential solutions for the client, two provided by external intermediary charities and one provided in-house, by Coutts. The external organisations are skilled at working with clients and making available to them their grant making and funding expertise. Community Foundations specialise in supporting clients interested in local community causes whereas the Charities Aid Foundation specialises in both national and international causes.

Both are equipped to help donors increase the impact of their giving, while taking care of all associated administration from researching relevant charities to reclaiming tax.

Coutts also has its own Charitable Family Trust service for individuals who want their own trust – the client will act as a co-trustee and play an active role in running the trust whilst leaving the burdensome administration to the bank. The client will be regularly updated on the performance of the fund and how the supported charities are using the clients’ donations.

Perry Littleboy, Head of Marketing and Business Development at Coutts, said: "Many of our clients talk to us about philanthropy and look at it as part of their overall financial planning. We have responded by setting up these relationships and we believe we are the first bank in the UK to offer this comprehensive service. We know that many clients have the potential for huge generosity but, up until now, do not feel they have a mechanism to put this into place."

Stephen Hammersley, Chief Executive of CFN said: "It is to Coutts’ great credit that they have invested in this service that effectively removes many of the barriers that clients may face when engaging with issues, organisations and other like minded people working to strengthen community life." Graham Davies of CAF added: "More and more people are asking for advice on how to meet their charitable objectives, so it’s encouraging to see Coutts addressing this need for their clients. We look forward to other companies in the financial sector following their lead."

Coutts, throughout its 300 year history, has pursued a wide range of charitable interests. Angela Burdett-Coutts, granddaughter of Thomas Coutts, was one of the leading Victorian philanthropists who supported cancer research and the RSPCA. Coutts now supports a range of charitable enterprises including The Prince’s Trust, Macmillan Cancer Relief and Global Angels. Additionally, Coutts has strengthened its head office team with the appointment, earlier this year, of Mark Evans as Head of Coutts Family Business and Strategic Philanthropy.

Note: Coutts, CAF and CF do not receive any fee, commission or other reward as a direct result of an introduction being made to CAF / CF. However CAF and CFs may choose to invest trust funds with Coutts for which we will receive our standard investment management fees and charges. CAF and CFs may also charge fees and expenses in accordance with their respective administration arrangements.

-Ends-

For further information please contact:

Nick Gill, Coutts & Co, Tel 0207 957 2427 mob 07970 001156, email: nick.gill@coutts.com

Claire Symonds, Regional PR Manager, Coutts & Co. Tel: 020 7957 2650, mob: 07970 001149, email: claire.symonds@coutts.com

CFN contact details: Stephen Hammersley, Chief Executive, Community Foundation Network. Tel. 0207 713 9326 email: shammersley@communityfoundations.org.uk

CAF contact details: Sachaa Pattison, Marketing and Communications Manager, Charities Aid Foundation. Tel 0207 400 2328, email: spattison@cafonline.org

Notes to editors:

Coutts

  • Coutts is the international private banking arm of The Royal Bank of Scotland Group. The Royal Bank of Scotland Group is one of the world's largest banking groups.

  • Coutts manages the wealth of 96,000 high net worth clients worldwide through a network of 40 offices globally.

  • Coutts offers clients a range of products and services covering sophisticated investment products together with expertise in trust and fiduciary services and UK tax and banking services.

  • Coutts has been awarded ‘Best Use of Long-Only Multi-Manager Structures’ at the Private Asset Management Awards 2005 for the third time.

  • Coutts & Co is authorised and regulated by the Financial Services Authority. Registered in England No. 36695. Registered office: 440 Strand, London, WC2R 0QS
  • Calls may be recorded