HSBC Trust and Fiduciary Services (TFS) is marking its 75th anniversary in Jersey by supporting a key community research initiative to shed light on the philanthropic needs within the local community.
The Jersey Community Foundation’s ‘Local needs assessment report’ is being undertaken by PwC and aims to take an evidence-based approach to grant making and help make a compelling case to develop and channel local philanthropy towards local issues. HSBC TFS is one of the co-sponsors of the report. It is envisaged that the report will be published later in 2022.
As one of the longest established trust company businesses in Jersey, HSBC TFS can trace its roots back to 21st June 1947, when Midland Bank Trust Company (Channel Islands) Limited was registered in the island.
Today, HSBC TFS forms an integral part of HSBC Global Private Banking, providing a range of wealth planning, philanthropy and family governance services, managing around US$90 billion of assets across 1,000 structures for a global client base. The business employs close to 70 people in Jersey and 220 globally, including accountants, lawyers and qualified trust specialists, providing international services from Jersey.
Supporting the vital new research underlines the affiliation HSBC TFS’s clients have with philanthropy and charitable giving whilst providing an opportunity to highlight areas in need of support within the island community where the business is based.
Commenting on the research initiative, Anna Terry (shown in the main picture), CEO, Jersey Community Foundation, said: “This is a really important piece of work and I’m delighted that HSBC Trust and Fiduciary Services have committed to supporting it.
“Local needs assessments are appraisals that evaluate a community to identify the requirements of the area and to determine appropriate projects that would translate into social value. Particularly as we now rebuild following the pandemic, the findings of this assessment will be timely, help inform how funding bodies prioritise their resources, shape funding strategies, and highlight areas of the local community that are most in need of help.”
Christopher Jones, Managing Director, HSBC Trust and Fiduciary Services, Channel Islands and Isle of Man, commented: “For 75 years in Jersey HSBC has been helping clients with their family wealth and legacy plans, and increasingly that has incorporated philanthropy and charitable giving.
“The aims of this piece of work from the Jersey Community Foundation are fixed firmly on the future of our island community and, at a time when we are celebrating the past 75 years of our business here, we are equally focused on looking ahead – to working with future generations to empower them to realise their long-term ambitions and play their part in positively impacting the local community.”
Emma Bunnell, CEO and Head of Wealth and Personal Banking, HSBC Channel Islands and Isle of Man, added: “Our ambition across the Channel Islands and Isle of Man is to open up a world of opportunities for our island and international clients, to help structure, protect, manage and grow their wealth. Increasingly, clients recognise that their wealth is not measured purely by its monetary value today and tomorrow, but by the positive change that it can make in the world, and that is an approach that we share as a Bank too.
“I’m really pleased that our trust business is able to mark a significant milestone in its history in Jersey by supporting an initiative that will help support long-term change in the community for years to come.”