- UBS Optimus Foundation launches China Representative Office
- In excess of 5,580 Chinese foundations have combined assets of USD14.2 billion, notes Global Philanthropy Report
Shanghai/Hangzhou, 28 May 2018 – Leading philanthropists, impact investors, business owners and other representatives of civil society were among the delegates at today's UBS China Philanthropy Conference in Hangzhou, the theme of which is "Legacy and Philanthropy – Collaborating for Social Change".
According to the Global Philanthropy Report1, which is authored by researchers at Harvard Kennedy School’s Hauser Institute for Civil Society with funding from UBS, the global philanthropy sector is growing fast. Nonetheless, around 58% of the foundations identified do not yet collaborate with other foundations. A primary objective of the UBS China Philanthropy Conference is to provide a platform from which philanthropists may work towards scaling their collective impact.
"China continues to lead wealth creation in Asia Pacific and the world. Many of the Chinese billionaires are first-generation entrepreneurs and a large part of their wealth is expected to change hands over the 20 years. More than ever before, we see the Chinese families embracing philanthropy as a way of succession planning and building a legacy. At the same time, they seek to contribute to society by creating social and environmental impact, “said Amy Lo, Chairman and Head Greater China, UBS Global Wealth Management.
"Philanthropy is growing rapidly in Asia, particularly in China. Increasingly, foundations are more strategic and more professional. They also recognize that collaboration both with their peers and with government has the potential to enhance social impact whether it be through peer learning, co-development, and even co-funding," said Christina Tung, Head Family and Philanthropy Advisory Asia Pacific, UBS Global Wealth Management.
The UBS Optimus Foundation used the occasion of the conference to launch its China Representative Office which is designed to consolidate and broaden the impact of its China projects.
Phyllis Costanza, CEO, UBS Optimus Foundationsaid, "Our commitment to China is a priority. Since 2001, more than 80 programs in China have been funded, with a total volume of CHF 77 million, representing 20% of our global grants over the period. In 2017, in excess of 260,000 children benefitted from Optimus-funded projects in China.“
The UBS China Philanthropy Conference 2018 will feature a series of keynote speeches, panel discussions and interactive breakout sessions on topics ranging from creating sustainable positive change, through collaborating for educational change, to creating family legacy through philanthropy.
Speakers include:
- Graça Machel, Founder, Graça Machel Trust
- Solina Chau, Executive Director, Li Ka Shing Foundation; Founder, HS Chau Foundation; Co-Founder, Horizons Ventures
- Beth Yu, Executive Secretary-General, Jack Ma Foundation
- Elizabeth Law & Portia Chow, Law's Charitable Foundation; Windshield Charitable Foundation; Park Hotel Property Management Limited
- Angela Bai, Secretary-General, China Alliance of Social Value Investment
UBS has advised on philanthropy, strategic charitable giving and investing with social impact for more than 10 years. The 40-strong UBS Philanthropy team includes experts on all aspects of philanthropy including strategic charitable giving and social impact investing. The UBS Optimus Foundation supports programs that benefit the world's most vulnerable children through funding by UBS and its clients. From 2011 through to 2018, Euromoney has named UBS as "Best Private Bank Globally for Philanthropy".
About UBS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS' strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in 52 countries, with about 34% of its employees working in the Americas, 34% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 14% in Asia Pacific. UBS Group employs approximately 61,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
Media contact
Joanna Sin
+86 1891 139 3363
joanna.sin@ubs.com
Joco Hu
+8621 3866 8051
joco.hu@ubs.com
