An inspirational philanthropist looking to take social investment mainstream has been announced as the winner of the City Philanthropy 2017 Beacon Award in the UK’s philanthropy ‘Oscars’.

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 – an award that celebrates change-making philanthropy.

London is known to be a global centre for finance but it is also becoming fast known as the global centre for philanthropy - which the Beacon Awards are celebrating.

Alexander is a Partner & Director at C. Hoare & Co., the oldest privately owned bank in the UK. Philanthropy has always been part and parcel of the nearly 350-year-old Hoare’s Bank family business.

In 2016 alone the bank donated more than £1million to The Golden Bottle Trust , which donates to Arts, education, and health organisations, among others. The Golden Bottle Trust has given more than £16m to charity since its launch in 1985.

Alexander Hoare is an ardent philanthropist and social investor who continues the tradition of Hoare’s philanthropy and is now innovating and creating new vehicles for philanthropy.

He is a keen advocate of microfinance, social investment, social enterprise and venture philanthropy.

The philanthropist is creating a new social investment institution that will open up the market to individual investors as well as institutions, who will be able to commit part of their capital to social good– not because it is a worthy act but because it makes sound financial sense to do so.

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.

The Beacon Awards, which are managed by UK Community Foundations’, celebrate philanthropy and those that give their time, expertise and financial resources to benefit society. 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.

The City Philanthropy category is sponsored by the City of London Corporation’s charitable funder, City Bridge Trust. This award celebrates the work of a philanthropist based in the City of London, Mayfair, or Canary Wharf, whose work will inspire the next generation of City philanthropists.

Commenting on his win, Alexander Hoare said:

"I am honoured by this award, and welcome the opportunity to share our philanthropic tradition - which goes back far and wide in our family."

Alison Gowman, chairman of the City of London Corporation’s City Bridge Trust committee, added:

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

“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 this work is recognised.”

Gay Huey-Evans, Chair of the Beacon Board, commented:

“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.”

The City of London Corporation’s charitable funder, City Bridge Trust, provides grants totalling around £20 million per year towards charitable activity benefitting Greater London. The Trust has awarded around 7,500 grants totalling over £360 million since it first began in 1995. It is London’s biggest independent grant giver tackling disadvantage across the capital.

In 2012 City Bridge Trust helped to establish City Philanthropy: A Wealth of Opportunity. City Philanthropy’s mission is to embed a culture of effective philanthropy in the City of London and Canary Wharf and to promote London as a global centre for effective philanthropy. City Philanthropy is a source of information, education and inspiration. Its website acts as a ‘giving hub’ for the City, providing news and resources.

ENDS

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Kristina Drake

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