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‘For nine out of every ten years, external commentators wonder why on earth we don’t have more risk in the business,’ says Rennie Hoare. When that tenth year rolls around, though, ‘they realise why we do things in the way we do’.
‘Our aim as a family is to perpetuate a sustainable family business, and aiming for perpetuity does not lead you to short-term, higher-risk profit maximisation.’
At 34, Hoare is head of philanthropy and is the youngest of the six partners at C Hoare & Co, which has £5 billion in deposits. He oversees a donoradvised fund run on behalf of 86 clients, which has already made £25 million in donations during the coronavirus crisis.