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Testimonial

Paul, 57 years old, patron of the arts
Architect, single, has set up a foundation to help talented musicians

What I wanted

My great passion is music. My piano teachers said that I had real talent. However, I wasn’t sure that I had what it took to become a concert pianist. When I turned 18, I was faced with a choice, and I chose a safer career that worked out well for me. But I have remained passionate about music and a couple of years ago, I felt the need to get back into the area that had occupied so much of my teenage years. Philanthropy provided that opportunity.

How I'm doing it

I have the money, but not the genius. Others have the genius but not the money. I remembered once a few of years ago during dinner at a friend's house, we were talking about a promising young pianist who had only a second-rate instrument to practise on. I decided that I would buy him a better instrument. I set up a small trust for musicians. I had no idea how whether my venture would be successful, but little by little, I found myself donating Stradivarius violins to a number of players in the same situation.

What the Bank did

Assistance provided

  • Centralisation, structuring and management of assets
  • Setting up a foundation

 

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Le cartouche gestionnaire

More information

Diane WOLTER

Philanthropy Advisory Services

tel: (+352) 49 924 3152


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Glossary

NM - Articles Liste

The term "social entrepreneurship" covers all kinds of activities that have a 'social benefit'. "Social entrepreneurship" is not in itself a new phenomenon but a new term for something that has existed throughout time. Social entrepreneurs offer innovative solutions to the most pressing problems of our society.

Social finance encompasses all investment techniques that generate social and/or environmental value and returns. The best-known social finance investment categories are socially-responsible investment (SRI), micro-finance and, more recently, venture philanthropy.

Philanthropy can be defined as giving money and assets to create social, cultural or environmental impact without necessarily expecting a return.

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