How to give it: Mark Aedy

Mark Aedy, 50, is a managing director of investment bank Moelis & Company, and is its head in Europe, the Middle East and Africa. He previously worked in senior roles at Merrill Lynch.

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What is the cause closest to you?

Currently, it’s a charity called Pilotlight, which aims to provide strategic and financial advice to a whole range of independent charities and social enterprises. It asks experienced business people to devote three or four hours per month to help charities. It’s worked with more than 200 charities since it was set up in 1996.

Is it more important to invest time or money in charitable work?

Money is clearly essential, but time is valuable as well. That’s really the secret of Pilotlight’s success – being able to give both. Pilotlighters give their time, as I have, and are directly involved with a specific charity under their umbrella. I spent 18 months as part of a team of three that helped a charity called Straight Talking, an admirable organisation dedicated to reducing teenage pregnancy, particularly in deprived areas. In partnership with their management, we have broadened and deepened their sources of funding for the next two years and helped to implement their strategy more effectively.

Why and how has the economic crisis affected attitudes towards charitable actions and donations?

It has made funding more challenging. There are many more demands on sources of financing. This means charities have to be very clear on their strategy and the implementation of that strategy, and prove, demonstrate and deliver tangible results. Charities need to be very clear on what they’re doing and how they’re doing it, in order to win the confidence of those who are awarding grants.

In the current economic climate, is free business advice from experts more valuable than loans?

I look at it separately. The application of professional business wisdom on strategy and marketing means that charities have an increased chance of being successful in terms of winning grants and fundraising. And also, if they are more focused on what they want to do and have a strategy in place, the grant awarders are going to be much more confident about allocating funds to them. Obviously, on that basis, the charities can be more effective.

Do highly paid professionals such as bankers have a duty to support the financially disadvantaged?

All of us have a moral obligation to help others, and I think it is very important for all of us who can help to do so. It’s not just professionals; it’s everybody who can help in whatever way they can. Some will be able to provide money; some will be able to provide time, some will give both.

What is the biggest philanthropic venture that you have taken part in?

I’ve been very proud to be associated with Straight Talking as it has achieved great things in a short amount of time.

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