Welcome!

News Feed Item

Bank of the West Releases Individual Philanthropy Index by Forbes Insights in the United States

Far Reaching Study Measures the Commitment and Interests of Philanthropists in the United States, Europe, Asia, and the Middle East

SAN FRANCISCO, April 17, 2014 /PRNewswire/ -- Bank of the West Wealth Management, in partnership with parent company BNP Paribas, recently published the second edition of its Individual Philanthropy Index, which measures and reflects the commitment of philanthropists in four regions – Europe, Asia, the Middle East and for the first time, the United States. Scores are based on three main criteria: the amounts donated, innovation, and the effort invested by the philanthropists to promote their chosen causes.

Bank of the West logo.

The Index is derived from a survey of more than 400 high net worth individuals across the four regions, each with investable assets valued at $5 million or more. The survey was conducted by Forbes Insights between October and December 2013.

The Index is accompanied by a report from Forbes Insights featuring personal stories of some of the world's best-known philanthropic givers. The following are the report's main findings in the areas of top causes, motivation and timing; the full report and methodology can be found at – http://www.bnpparibas.com/en/news/press-release/bnp-paribas-launches-bnp-paribas-individual-philanthropy-index-forbes-insights-me.

Top Causes

  • In the United States, "health" and "hunger/food" were tied for top cause in the world, each cited by 33% of respondents. "Social change/diversity" closely followed, cited by more than one in four (28%) of U.S. respondents.
  • On the other hand, respondents from Europe, Asia and the Middle East most frequently cited the environment as the world's top cause.

Motivation

The Index also shows that the motivations of the philanthropists surveyed vary among the four regions and are largely rooted in local history and culture; for example:

  • 22% of respondents in the United States and 29% of respondents in the Middle East said that "personal ties and experience linked to the chosen cause" most frequently motivate their philanthropy. In the U.S., "religious faith" and "sense of duty" ranked second and third, cited by 16% and 14% of respondents respectively
  • In Asia, the "desire to give something back to society" ranked highest at 19%
  • In Europe, an "altruistic desire to help others" ranked as the top motivator and was mentioned by 22% of respondents

Timing

How urgent is the need for philanthropic giving?

  • 79% of those polled describe the worldwide need for philanthropic giving as 'urgent' or 'extremely urgent'

How does respondents' wealth affect their giving?

  • More than 50% of respondents in the U.S. and Asia and 72% of those surveyed in the Middle East would be encouraged to increase their giving based on their view of the current state of their wealth
  • In Europe, the picture is less clear-cut, with 40% stating that the current state of their wealth encourages them to increase their giving, while an equal number indicate that their perception would drive them to give less

How long are respondents willing to wait to see results?  

  • Donors in the United States, Asia, and Europe expect to see faster results than their Middle East counterparts – in general, in less than 10 years.
  • In the Middle East, more than half of all philanthropic donors are prepared to wait more than 25 years to see the impact of their philanthropic activities

"Philanthropic giving is an important consideration for many of our Wealth Management clients," said John Bahnken, senior executive vice president and head of Bank of the West's Wealth Management Group. "From our private client advisors through our trust team, this kind of research helps clients feel more informed when they are assessing options for their long-term giving strategy that is closely aligned with their interests and overall legacy," he said.

An infographic on the study's findings in global giving can be found here – http://gowe.st/1meogc5

Bank of the West Wealth Management provides wealth planning consulting, investment management*, personal banking, and trust services. The group is part of BNP Paribas' global wealth management business of more than 6,300 professionals in 30 countries worldwide with over $10 billion** in assets under management in the United States and $397 billion (€288 billion) in assets under management globally as of December 31, 2013.

About Bank of the West:

Founded in 1874, $65 billion-asset Bank of the West (www.bankofthewest.com), member FDIC and equal housing lender, offers a wide range of personal, commercial, wealth management and international banking services. The bank operates more than 600 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 80 countries with 190,000 employees, including 145,000 in Europe.

*Securities and variable annuities are offered through BancWest Investment Services, Inc., a registered broker/dealer, Member FINRA/SIPC. Financial Advisors are registered representatives of BancWest Investment Services, Inc. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California (License # 0C52321) and through BancWest Insurance Agency in Utah, and through BancWest Investment Services in AZ, CO, IA, ID, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, WA, WI, WY, HI, GUAM and CNMI. Bank of the West and its various affiliates and subsidiaries are not tax or legal advisors.

Bank of the West Wealth Management provides financial products and services through Bank of the West and its various affiliates and subsidiaries. 

BancWest Investment Services is a wholly owned subsidiary of Bank of the West and a part of the Wealth Management Group. BancWest Corporation is the holding company for Bank of the West. BancWest Corporation is a wholly owned subsidiary of BNP Paribas.

Investment and Insurance Products are:

NOT FDIC INSURED * NOT BANK GUARANTEED * MAY LOSE VALUE * NOT A DEPOSIT * NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

** Including assets under supervision at BancWest Investment Services

Logo - http://photos.prnewswire.com/prnh/20120418/MM90603LOGO

SOURCE Bank of the West

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...