Dorothy Chan, Head of Philanthropy Services and Advisory, Wealth Planning and Advisory, Asia Pacific at HSBC Global Private Banking, believes that in tumultuous times, arts and culture philanthropy can play a role in uplifting communities.
It’s in our nature to be giving – whether it’s simply buying a flag from students raising funds for charity on a Saturday, making monthly donations to help those in need, or volunteering at a home for the elderly or an animal shelter, philanthropy has always existed in different scales and forms.
In the early 2000s, HSBC Global Private Banking noticed an emerging trend: clients are keen to find out how they could allocate a portion of their wealth to support communities in an impactful way. Many HSBC clients have been generously helping their neighbours and their communities for decades. But at the time, not many had established family foundations or thought about philanthropy in a structured way.
In a way, philanthropy is a form of investment. Although clients aren’t expecting a financial return, they still want to know that every dollar they spend is going to help someone in a meaningful manner. Building on its commitment to supporting communities, in 2005 HSBC Global Private Banking became the first international bank to establish a philanthropy advisory practice in Asia to support clients in their philanthropic journeys.
THE PHILANTHROPIC LANDSCAPE TODAY
Almost two decades later, the business is thriving. Now headed by Dorothy Chan, who brings a wealth of experience working with leaders in the private, public and non-profit sectors on big issues such as climate change and poverty alleviation, the Philanthropy Services and Advisory business is busier than ever in this post-Covid world.
The team works with a range of philanthropists: those who are more comfortable with a straightforward donation or volunteering with an organisation; and a newer breed of philanthropists who are keen to explore innovative ways to deliver positive impact.
To help its clients, HSBC Global Private Banking continuously keeps track of what’s happening in the world. “Continuous learning is important to philanthropists, because the community needs constantly change and philanthropists like to stay updated, so they can give effectively,” says Chan. Often, what this means for Chan and her team is being proactive about learning, and connecting the dots between what an organisation needs and what the client wants to do. The bank serves as a bridge between the different sectors and works with organisations to ensure their clients’ contributions can make a difference.
Continuous learning is important to philanthropists, because the community needs constantly change and philanthropists like to stay updated, so they can give effectively
Dorothy Chan
“Say a client wants to look into sustainability education in Thailand or Cambodia, but after three years of Covid our findings tell us sustainability isn’t at the top of the education agenda, but instead it’s basic maths and literacy skills,” says Chan. “How do you reconcile what a country needs and what the client wants to do? Based on the analysis, should they insist on sustainability education or do something else? We’ll work with clients to develop solutions that fit both their interests and those of the country. No matter what the client decides, we help them achieve their vision and do it in a meaningful manner.”
The bank also facilitates opportunities for clients to exchange ideas with each other. Connections often spark new ideas and collaborations. Chan recalls Mind Matters – A Hackathon for Social Impact, which HSBC Global Private Banking ran in 2020. “It subsequently inspired clients to adopt that approach to strengthen NGO learning about a new topic, incentivising them to come up with new project ideas and have skills-based volunteers turn those ideas into viable business plans, and then pitch those ideas to funders.” Beyond piloting new models, the bank organises thematic gatherings to enable clients in coordinating grant making to avoid overlaps, and de-risk the funding of new intervention methods or newer organisations. They can also pool resources to move the needle on tackling big challenges such as climate change.
ARTS AND CULTURE PHILANTHROPY
Although education and services for the elderly have invariably been the leading philanthropic categories in Hong Kong, the growing importance of arts and culture in strengthening communities means there are opportunities for philanthropists to accelerate the development of a vibrant ecosystem in those areas.
Chan assures us that arts and culture philanthropy is extremely important, going beyond the patronage of performing-art troupes or museums. “How do we define support for the arts and culture?” she asks. “Should we also count work that uses the arts to cultivate creativity and critical thinking among young people? What about using art and music therapy to improve mental wellbeing? There’s a lot we can do in the sphere of arts and culture.”
HSBC’s support for the arts goes back to 1923, when the then-Chief Manager Alexander Stephen made the bank’s first art purchase. Over the years, the bank built a collection of works by George Chinnery, who captured different facets of life and locations in 19th-century Asia; the collection now serves as an important visual record of 19th-century China and the earliest years of the China trade. HSBC’s art holdings have since expanded to include works by Chinese masters who pioneered the modern art movement in the country, as well as those by emerging contemporary Chinese artists.
HSBC has been running a number of programmes to make its collection accessible to a wide audience through educational programmes and loans to museums. Its latest partnership with M+ Museum for the Visual Arts is another example of the bank’s commitment to making art accessible to all.
“We have a lot of creative people in Hong Kong,” says Chan. “Finance, logistics and trade have been our economic growth engines. And now we have awesome world-class museums and a whole ecosystem of cultural institutions spanning the performing arts, Chinese music, ballet and educational institutions … Did you know the Academy of Performing Arts is ranked number 10 in the world and number one in Asia? We’re doing what we can to learn with our clients about the possibilities of supporting the arts and culture, and don’t box arts and culture simply as preservation in a museum.”
Art can impact our communities in so many positive ways – Chan recalls how one of her clients set up an NGO to use the arts to teach language and critical thinking skills. Chan is clearly impressed: “She’s inspired so many young people from underprivileged backgrounds to integrate the arts in their own academic and career paths,” she says.
One of the beneficiaries went on to study social work and later developed a service model aiding the elderly through the arts. “She’s now secured a scholarship to continue her master’s degree to further refine the model,” Chan says, proud as any mother would be. “I’ve seen how the programme transformed the beneficiary’s life. From being undisciplined and unengaged as a student, she went on to learn the importance of honouring each other by the simple act of showing up on time, the importance of having values and the importance of giving back.
“Art can really bring people together,” concludes Chan. “It’s a common language that can inspire, promote healing, and enhance our quality of life.” And so, as we inch closer to the year-end and reflect on our greatest trials and tribulations, celebrations and successes – how should we give back to our beloved community? It’s time to get creative.
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Issued by The Hongkong and Shanghai Banking Corporation Limited and HSBC Trustee (Hong Kong) Limited.
