Spear’s Review

HNW families who are clients of HSBC Global Private Banking can count on Russell Prior OBE for support in achieving a successful intergenerational wealth transfer.

Prior, recognised for his contribution to the charity and philanthropy sectors in the 2025 King’s Birthday Honours, is head of family governance, family office advisory and philanthropy for the EMEA region at the bank. In this role he is chiefly concerned with advising families on the next steps for their businesses and their assets, as well as their wealth aspirations, values and areas of interest.

A transition period is often a good time to talk about philanthropy strategies, as it is ‘an area that starts with a common interest as opposed to a difference of opinion’, bridging the gap between generations and starting the conversation ‘about wealth and about the purpose of wealth’, Prior says.

‘[Philanthropy] is a very purpose-driven activity; there is no financial reward in philanthropy. But that sense of purpose can be a really sound basis and anchor for wider conversations about intergenerational wealth,’ he tells Spear’s.