BNP Paribas Wealth Management has bolstered its philanthropic operations by unveiling a new donor-advised fund (DAF) platform in Asia. The platform, dubbed the “BNP Paribas Bridge Foundation,” is dedicated to assisting Asian entrepreneurs, affluent individuals, and family-run enterprises seeking a robust, well-governed method for conducting philanthropic activities.
The Foundation operates within the framework of Singapore’s financial and legal system, supervised by a governance board comprising both internal and external professionals. The team’s expertise spans philanthropy, impact investing, and the Asian charitable sector.
A DAF is a specialized structure intended for philanthropic contributions. Its primary advantages include potential tax benefits and the retention of advisory rights.
The rise of philanthropy as a key aspect of the entrepreneurial journey in Asia is notable, shifting the focus from wealth accumulation to creating a lasting legacy. The Bridge Foundation caters to this vision by offering a secure and efficient platform for philanthropic donations, adhering to the highest standards of governance and compliance. Arnaud Tellier, BNP Paribas Wealth Management’s CEO in Asia-Pacific, emphasized this point in his remarks on the launch.
What is the BNP Paribas Bridge Foundation?
The BNP Paribas Bridge Foundation is a newly launched donor-advised fund platform in Asia by BNP Paribas Wealth Management. It aims to assist Asian entrepreneurs, high net worth individuals, and family offices in their philanthropic activities.
What are the advantages of a donor-advised fund (DAF)
A DAF is a vehicle specifically designed for charitable giving. The main benefits include potential tax advantages and the retention of advisory privileges.
How does the BNP Paribas Bridge Foundation operate?
The Foundation operates within the framework of Singapore’s financial and legal system. It is governed by a board consisting of both internal and external professionals with experience across philanthropy, impact investing, and the Asian charitable sector.
