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Forbes Insights and Credit Suisse Reveal Results of New Study Examining Philanthropists' Approaches to Tackling Global Poverty

09/17/2013 | 11:10am EST

Global study follows second annual Forbes 400 Summit on Philanthropy and finds desire for systemic changes at the highest levels

Philanthropists harbor large ambitions in terms of the problem of global poverty, and the most effective path ahead may entail coordination of efforts. These are some of the key findings revealed today from a new Forbes Insights study, supported by Credit Suisse, titled "Alleviating Global Poverty: Catalysts of Change."

The global study, which surveyed 317 individuals with investable assets of $1 million or more, explores the question of how a philanthropist can best help mitigate global poverty. To access the study, please go to http://forbes.com/forbesinsights/Credit_Suisse_2013.

The study is one of the most in-depth surveys ever conducted of global philanthropists regarding their views on alleviating global poverty, as well as their personal philanthropic approaches and practices. In addition, the study reflects interviews with prominent global philanthropists, furthering the discussion around global poverty initiated during this summer's second annual Forbes 400 Summit on Philanthropy.

"Forbes Insights provides unique access to and a deep understanding of the Ultra High Net Worth market. We're pleased to be able to partner with Credit Suisse on this second annual study on those who have achieved great wealth and their attitudes and best practices for their philanthropic investments," said Bruce H. Rogers, Chief Insights Officer for Forbes Media.

"The Forbes 400 Summit on Philanthropy creates a venue for some of the world's leading philanthropists to share ideas and develop sustainable solutions to help alleviate global poverty," said Dr. Philip Vasan, Head of Credit Suisse Private Banking for the Americas. "This study extends that important conversation and seeks to answer the question of how best to build a philanthropy portfolio, and how to pass its core values on to the next generation."

Key findings include:

? Ambitions run high, with 73% of philanthropists saying they want to see pattern changes at the highest levels, as they seek to affect international or government policies right at the start of their giving. A problem as huge as global poverty can be alleviated only by systemic change.

? Forty-eight percent of survey respondents agree that there are too many overlapping organizations within the non-profit sector. While individual philanthropists often want to make their own imprint, the most effective approach for a philanthropist tackling global poverty may be to join forces with other experienced philanthropists or organizations, or to become a "venture philanthropist" by seeding the initiatives of others.

? The largest percentage of respondents (42%) focus on targeted and local giving, 29% focus on global giving and the remaining 29% on either or both. Among philanthropists with investable assets of more than $50 million, 40% say they focus on global issues.

? The research shows that philanthropy can be viewed as a portfolio, with some assets devoted to global initiatives--which entail systemic change and have longer turnarounds--and some to local initiatives, which can have a necessary, immediate impact. Roughly the same number of philanthropists surveyed (26% and 23%, respectively) define success as focus on long-term impact and as alleviating physical suffering or meeting immediate needs.

About Forbes Insights

Forbes Insights is the strategic research and Thought Leadership practice of Forbes Media, publisher of Forbes magazine and Forbes.com, whose combined media properties reach nearly 50 million business decision makers worldwide on a monthly basis. Taking advantage of a proprietary database of senior-level executives in the Forbes community, Forbes Insights conducts research on a host of topics of interest to C-level executives, senior marketing professionals, small business owners and those who aspire to positions of leadership, as well as providing deep insights into issues and trends surrounding wealth creation and wealth management. forbes.com/forbesinsights

About Credit Suisse Group

Corporate Responsibility

At Credit Suisse, we believe that our responsible approach to business is a decisive factor determining the long-term success of our bank. We therefore strive to act as a good corporate citizen in every aspect of our work. This approach is founded on a broad understanding of our duties as a financial services provider and our responsibilities toward society and the environment, as well as our role as an employer.

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,300 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.


This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

Credit Suisse
Perrin Wheeler, 212-325-8978
Mia Carbonell, 212-620-2288

© Business Wire 2013
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