Bank boss donations 'could lead to more charitable giving'

News that a number of banking bosses are to donate their bonuses to charity could pave the way for an increase in charity investing.

This is according to chief executive of New Philanthropy Capital Martin Brookes, who told the Guardian that the country needs ’role models’ when it comes to investing in charities.

’As a country we have a tendency to pour scorn on people who give large amounts,’ he was quoted as saying, adding that this ’does nothing’ to encourage more people to give money to worthy causes.

However, Mr Brookes warned the news that Michael Geoghegan and Peter Sands - the chief executives of HSBC and Standard Chartered respectively - are giving away their bonuses could be seen as the pair simply ’getting rid of ’ the money, rather than choosing to invest in good causes.

Mr Geoghegan revealed recently that he is donating the £4 million bonus he is entitled to, while Mr Sands is also forfeiting around £2 million.ADNFCR-2318-ID-19655581-ADNFCR