Charity investments supported by City Philanthropy Club

Charity investments received a boost last week, following the news prominent wealth management executives have set up the City Philanthropy Club.

Royal Mail chairman Donald Brydon and governor of the Bank of England Mervyn King participated in the establishment of the organisation, which seeks to encourage social investment in the form of donations to third sector organisations.

The first meeting was held at the Bank last Wednesday (October 27th) and charity investments may increase as a result, with proponents hoping it will encourage rising executives to support worthy causes.

Dr Salvatore LaSpada, chief executive of the Institute for Philanthropy, favours its creation, stating: "When donors come together in networks such as this, we see the most sustained and effective giving," reports Third Sector.

As a charity investments specialist, he notes many individuals give money once they have become wealthy, stating donations earlier in a career means individuals "acquire the habit of giving early". ADNFCR-2318-ID-800208604-ADNFCR