Wealthy families are aggregating philanthropic activities through their family offices, a trend started in the US and now being seen more publically across Europe and the Middle East, according to Nick Ring, chief executive of Northern Trust Wealth Management for EMEA. “It was often the case that each family member would have their own projects and would be allocated a sum by the family to contribute to it. Now it’s much more usual to see the family chose a cause as a unit and to structure the funds into a vehicle such as a Foundation so they are able to contribute a much larger sum on a regular basis, normally from the income generated through professional management which provides a longer term more meaningful contribution to the cause’s development,” he told WealthBriefing. “This is not only obviously good for the philanthropic venture itself, but it helps bind individuals or even branches of families together behind a cause that the family feels as embodying its values. The "foundation" or strucutre itself often requires professional services such as asset management and asset servicing, which is where companies such as Northen Trust become part of the picture.” Northern Trust specialises in the reporting and custody requirements for ultra high net worth individuals and families and has recently raised the level at which the Chicago-based bank feels it can add value to the level of $200 million.