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AN inspirational philanthropist who is breaking not only new ground in social investment but also smashing the stigma of selfish bankers has been recognised as a ‘Beacon’ for the sector by his peers. Private banker Alexander Hoare, who was nominated alongside fellow City philanthropists Michael Sherwood and Prem Goyal, has...

AN inspirational philanthropist who is breaking not only new ground in social investment but also smashing the stigma of selfish bankers has been recognised as a ‘Beacon’ for the sector by his peers.

Private banker Alexander Hoare, who was nominated alongside fellow City philanthropists Michael Sherwood and Prem Goyal, has won the 2017 Beacon Award for City Philanthropy.

In an age of austerity, philanthropy is growing in importance and the Beacon Awards aim to encourage new ways of funding to meet need and inspire others to give by sharing examples of exceptional philanthropy.

Mr Hoare, who is a partner and director at C Hoare & Co, the oldest privately-owned bank in the UK, is the current standard bearer for a family steeped in 350 years of giving history.

In 2016 alone the bank donated more than £1million to The Golden Bottle Trust, which donates to arts, education, and health organisations, among others.

Since its launch in 1985 the trust has donated in excess of £16m to worthy cause across the Capital and beyond.

Keeping up with the demands of modern business, Mr Hoare is a keen advocate of microfinance, social investment, social enterprise, and venture philanthropy.

The ever modest award winner said of his prize: “I am honoured by this award, and welcome the opportunity to share our philanthropic tradition which goes back far and wide in our family.”

Top of Mr Hoare’s giving agenda is the creation a new social investment institution that he hopes will open up the market to individual investors as well as consortiums.

Alison Gowman, chairman of the Corporation’s City Bridge Trust committee, sponsors of Mr Hoare’s accolade, hailed the winner as a leading individual in the Square Mile.

“I congratulate Alexander for his fantastic achievement and leading the way in taking social investment mainstream – he is an inspiration to us all,” she said.

“We had a great variety of nominees this year and they all had remarkable achievements – be it through investing time, money or knowledge, achievements which I hope will encourage others to follow suit.”

“We need to highlight such generosity and showcase different ways of giving to inspire others. The City is known as a global financial hub but the Beacon Awards highlight it as a philanthropic hotspot and it is important that this work is recognised.”

Other Beacon Award winners being recognised for their philanthropy this year  include Money Saving Expert Martin Lewis OBE, double Olympic champion Dame Kelly Holmes DBE, and fashion icon Dame Vivienne Westwood DBE for her partnership with Cool Earth.

Gay Huey-Evans, chair of the Beacon Board, said that the high calibre of nominations in the latest edition of the awards make for a promising future.

“Philanthropy continues to have a significant role to play in society today and, judging by this year’s Beacon Awards, it is alive and well in the UK,” he said.

beaconawards.org.uk

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