Paul Streets OBE, CEO of Lloyds Bank Foundation, leads a corporate foundation that represents a modern approach to purpose-driven initiatives.
In the UK, there are over 100 corporate foundations, each unique in size, income generation methods, and impact strategies. In England and Wales, corporate foundations function as independent charities with their own boards and staff, registered with the Charity Commission, following a similar model worldwide.
Traditionally, corporate foundations were primarily seen as vehicles for corporate giving and employee volunteering. However, today's corporate foundations operate independently and prioritise addressing critical societal issues, even if they don't align entirely with the corporate entity's goals. Corporate foundations are guided by need, supported by research, and staffed by professionals who deeply understand the causes they support, resulting in ambitious, innovative, and cutting-edge approaches to making a difference.
One of the largest corporate foundation, Lloyds Bank Foundation, has a history nearing four decades, annually donating more than £20 million to charitable causes in England and Wales. Despite its affiliation with the founding FTSE 100 company, it operates with its own distinct purpose, organisational structure, independent board, and executive team. These elements drive its grant-making activities, fulfilling its mission to assist small, local charities, individuals, and communities.
Paul Streets OBE, CEO of Lloyds Bank Foundation, joins Purposely Podcast to share his journey across various sectors, from the voluntary and public sectors to international development, human rights, professional and service regulation, and health and social care. His diverse experiences include leadership roles at organisations like Diabetes UK, the Health Development Agency, and the Postgraduate Medical Education and Training Board. He also holds an Honorary Visiting Professorship at Cass Business School, City University of London, and serves as a Member of the BBC Appeals Advisory Committee. With four degrees and an OBE for his services to people with diabetes, Paul's commitment to social impact is evident.
Under Paul's leadership, Lloyds Bank Foundation is dedicated to partnering with small grassroots charities and collaborating with local organisations and communities. This collaborative approach ensures that individuals facing complex challenges receive the necessary support and opportunities to overcome them.
At the core of their work is a focus on the needs and aspirations of the people they aim to assist. Their strategy revolves around strengthening small and local charities, advocating for a better future, and supporting community growth. They achieve this through unrestricted funding, organisational development support, and policy advocacy, empowering small charities, fostering resilient communities, and helping individuals transform their lives.