UK Banks Expand Philanthropy Services

from Reuters:

Private banks use lure of charity to attract rich

Philanthropy has become a new battleground for Britain’s private banks as they line up to offer rich clients the slickest methods to mimic the charitable giving of the likes of Bill Gates and George Soros.

Industry experts say the initiative by the UK’s largest wealth managers reflects part of a push to attract clients with niche services beyond traditional areas such as investment advice in an increasingly competitive market.