New Partnership Strengthens Singapore's Position as Asia's Leading Philanthropy Hub

Singapore’s Wealth Management Institute (WMI) and the Private Banking Industry Group (PBIG) have launched the Impact Philanthropy Partnership (IPP), which aims to bring together family principals and offices to tackle society’s most pressing challenges and issues.

The IPP, supported by the Monetary Authority of Singapore (MAS), will create a dedicated series of events and research publications to build greater awareness and momentum for philanthropy and newer models of giving such as venture philanthropy and impact investing.

“The number of family offices in Singapore continues to grow, and many have a strong appetite to give back to society, both in Singapore and regionally. The IPP will convene thought leaders, changemakers and innovative philanthropists from Asia and around the world, to inspire a broader movement for more strategic and impactful giving,” said Foo Mee Har, CEO of WMI.

“Philanthropists and family offices can do tremendous good, especially in areas that lack market support. They can quickly deploy unrestricted funds in response to urgent problems such as natural disasters, back high-risk purposeful ventures, convene stakeholders and promote collaboration, develop and share research, and support large-scale implementation of solutions to pressing social problems. The IPP will build momentum to grow support of causes in Singapore as well as regionally,” added Foo.

One of the key initiatives under the IPP will be a Social Impact Discovery Series, a structured programme providing learning opportunities and thought leadership covering approach-related ‘how-to’ topics, as well as cause-related topics focused on specific areas of need locally and regionally.

Each partner will play a vital role in the partnership by leveraging their unique networks and expertise to raise awareness and convene the ecosystem, further amplifying the impact of the initiative. WMI will lead and execute the events, programmes and research.

The IPP initiative complements other efforts to build a supportive ecosystem that include deepening the talent pool for philanthropic advisory services in Singapore, developing due diligence and impact monitoring solutions and enhancing policies to encourage giving.

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