Philanthropy
Chimp Expert To Teach UBS Client Kids
Swiss banking giant UBS has hired chimpanzee-expert Jane Goodall to give children of private banking clients in Singapore lessons on philanthropy and being involved in various socio-cultural and economic causes, Bloomberg writes.
The 77-year-old has been studying chimpanzees since the 1960s and is a well-known speaker on conservation. The one-day session held last week was reportedly part of the private bank's efforts to integrate the philanthropic spirit into young adults who have the potential of influencing society through their social positions and wealth.
"We are not inheriting Mother Earth from our parents, but rather, we are stealing from our children -- and it's payback time," Goodall was quoted as saying.
UBS annually conducts similar seminars in Singapore, Hong Kong, and Taiwan to educate the region's young and rich. Goodall centered on animal welfare, human rights and other causes in her talk to an audience of mostly 18 to 25 year olds.
The aggressive push for youth empowerment in financial decisions comes as Asia is gradually levelling with the US and Europe in terms of investment habits. According to the 2011 World Wealth Report by Capgemini and Merrill Lynch, Asia Pacific saw a 12.1 per cent rise in high-net worth wealth values in 2010 to $10.8 trillion. A similar study by PricewaterhouseCoopers also forecasts that Singapore will overtake Switzerland as the world's number one wealth management centre come 2013.