A group set up to encourage philanthropy among young City executives was officially launched this week.
The City Philanthropy Club was established by Donald Brydon, the chairman of the Lord Mayor of the City of London’s annual charity appeal. It is supported by Mervyn King, the governor of the Bank of England.
The group was officially launched at a dinner on Wednesday, but about 15 City employees have been supporting the initiative since March by raising money for Pitch Perfect, a charity that gives disadvantaged children in London access to music and cricket.
Libby Rice, events and project manager for Pitch Perfect, said the club planned to set up a committee in the coming months and would then decide which other charities to support. Nobody from the club was available for comment.
Dr Salvatore LaSpada, chief executive of the Institute for Philanthropy, welcomed the new club.
"When donors come together in networks such as this, we see the most sustained and effective giving," he said.
"Many philanthropists begin their giving after they have created wealth," he added. "This club’s aim is to encourage them to give while still in the early stages of their careers, so that they acquire the giving habit early."