A quarter of high net worth individuals globally say charity is a top spending priority, according to a survey of 2,000 high net worth individuals by Barclays Wealth. Traditionally, the US has dominated international philanthropy with the country’s contributions totalling US$225 billion in 2009.
In October last year, the 147 year-old Societe Generale Private Bank (SGPB) broke with tradition and outsourced a significant part of its research function to Copal Partners. Until then, the bank’s internal team of 12 dedicated researchers globally was solely responsible for generating research that would meet clients’ needs across Europe, US and Asia.
Rishi Khosla, 35, is chief executive and co-founder of Copal Partners, an outsourcing firm for financial companies. He is a board member of entrepreneurship charity TiE UK (www.uk.tie.org) and a trustee of New Philanthropy Capital (NPC), which advises charities and donors (www.philanthropycapital.org).
What is the first charity you remember supporting?
CEO Khosla sees China as key; Banks Outsource Research, Advisory to cut costs
Investment banks are looking to outsource more skill-intensive functions such as equity research and deal advisory, with Asia driving the trend as banks seek to keep pace with demand while controlling costs.
Societe Generale Private Banking and Copal Partners are teaming up to strengthen the private bank’s existing Equity Research offering, specifically designed for high net worth clients.
Thanks to Copal Partners’ proven track record in Equity Research, Societe Generale Private Banking will: double the coverage by its regular publications.