The work of London philanthropist Alexander Hoare has been recognised with a prestigious City philanthropy award. The private banker has been announced as the winner of the City Philanthropy 2017 Beacon Award, an award that celebrates change-making philanthropy.
He was nominated for the award alongside City philanthropists Michael Sherwood and Prem Goyal.
The City Philanthropy award category is sponsored by the City of London Corporation’s charitable funder, City Bridge Trust. It 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”.
Hoare is a Partner & Director at C. Hoare & Co., the oldest privately owned bank in the UK. The family bank has a long tradition of philanthropy over its nearly 350-year history.
The Golden Bottle Trust
Last year the bank donated more than £1 million to The Golden Bottle Trust, which donates to arts, education, and health organisations. The Golden Bottle Trust has given more than £16m to charity since its launch in 1985.
New vehicles for philanthropy
Alexander Hoare is both a philanthropist and social investor, with a keen interest in microfinance, social investment, social enterprise and venture philanthropy.
He is setting up a new social investment institution that will open up the market to individual investors as well as institutions, who are keen to commit part of their capital to social good both to achieve positive impact and because it makes sound financial sense to do so.
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, congratulated Hoare on his award and for “leading the way in taking social investment mainstream”.
She added: “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.”
Other Beacon Award winners
Beacon Awards were also presented this year to MoneySavingExpert 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
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. They are designed to encourage new ways of funding to meet need and inspire others to give by sharing examples of exceptional philanthropy.
WATCH: The Beacon Awards ceremony 2015
- Read about the first Beacon Awards in 2007.