Latest news with #SwissFrancs
Hospitality Net
5 days ago
- Business
- Hospitality Net
EHL Launches (Em)Power on: A Landmark Philanthropic Initiative to Shape the Future of Hospitality Education
EHL Hospitality Business School is proud to announce the launch of its five-year philanthropic initiative, (Em)Power on, designed to embed philanthropy at the heart of the institution's mission. Aiming to raise 50 million Swiss Francs by 2030, the initiative will establish a sustainable endowment fund to provide scholarships, advance pioneering research, and drive strategic impact for the future of hospitality. A New Era of Giving: Sustainable Support for Education, Research and Strategic Impact Building upon a long-standing tradition of philanthropy at EHL, (Em)Power on is a transformative initiative that will ensure long-term, stable funding for students and academic advancements. Unlike previous fundraising efforts, which allocated donations on an annual basis, the endowment fund represents a transformational approach, generating perpetual returns that create a lasting legacy for donors and meaningful impact for future generations. Our goal is to provide sustainable, long-term financial resources that will empower students, faculty, and our community to break barriers and push the boundaries of hospitality education. This initiative is about creating lasting change that enables students to pursue their ambitions without financial constraints and fuels innovation that will redefine the industry. David Knuff, PhD, Chief Strategic Partnerships Officer at EHL Through this initiative, one potential outcome of the endowment fund is to provide full scholarships for 10% of students, covering their entire four-year academic journey. These scholarships will be needs-based, ensuring that the most talented individuals, regardless of financial background, can access EHL's world-class education. It would provide research Cinzia Torriani, a final-year student at EHL and a scholarship recipient, reflects on the profound impact of financial support: Without the foundation's support, I wouldn't be here, or my journey would have been much more challenging. Beyond financial aid, the emotional encouragement from the foundation has been invaluable, shaping both my personal and professional growth. Beyond scholarships, the endowment fund will fuel research that challenges the status quo and drives meaningful change in the hospitality industry, and neighboring industries. By uniting visionary minds, EHL will support projects that enhance industry practices, explore emerging trends, and develop cutting-edge solutions that redefine the guest experience. A Legacy of Philanthropy and Community Engagement EHL's culture of philanthropy dates back to 1942 when alumni came together in the aftermath of World War II to ensure the school's survival. Their generosity laid the foundation for a long-standing tradition of giving back—one that continues to flourish today through the (Em)Power on campaign. The campaign aims to honor 5,000 donors, fostering a strong sense of community and ensuring that every contribution makes a lasting difference. The fund is professionally managed by Lombard Odier, a renowned investment house specializing in responsible asset management, to ensure sustainable and ethical investment practices. EHL invites alumni, industry leaders, and supporters to be part of this transformative journey. By participating in (Em)Power on, donors will play a pivotal role in shaping the future of education, fostering equal opportunities, and propelling the hospitality industry forward. For more information on how to contribute, visit or contact [email protected]. Together, we are opening doors, breaking barriers, and empowering talent to create a lasting impact on the world of hospitality, and beyond. Grégoire Pavillon Director of Philanthropy EHL
Telegraph
12-04-2025
- Business
- Telegraph
‘I sent my son a £200k house deposit, but Santander took £5k'
Has a company treated you unfairly? Our Consumer Champion is available to help. For how to contact her click here. Dear Katie, On March 3, I visited my local Santander branch and asked for £200,000 to be sent from my account to my son's GBP account in Zurich, Switzerland. I paid the £25 fee and was told that the funds would land overnight. However, this did not happen. I made multiple attempts to get Santander to sort it out, and then when the funds did finally arrive, they were presented in Swiss Francs, having suffered significant exchange rate and handling fees. On March 6, I complained to Santander that the money had been sent via the wrong route (the one that triggers a currency conversion rather than a straight transfer, which is far cheaper to do). I was told that the complaints team would be in touch within three to five working days, as this had been flagged as urgent. However, no one called. It was only on Friday, March 14 when I phoned repeatedly that I was able to make contact with someone. The lady promised 'prompt action', but another three days have now passed – nothing has been done and no one has been in touch. If my son accepts the funds into his account, he will lose another £4,700.30 due to conversion rates and fees. My son needs this money soon to help him purchase a home in Zurich. The funds are an advance from the Bank of Mum on his inheritance as – while I really do not want to play the 'poor me' point – I deal with advanced, incurable cancer. – PE, via email Dear PE, Your receipt shows the transaction was made in Swiss Francs, which is in line with Santander's usual policy. When you visited the Bristol branch for the second time, two days later, you advised that your son had not received the expected funds, as the receiving bank could not deposit the Swiss Francs into his account. At this point, Santander became aware that you initially intended to send the funds in pounds. In order for the money to be applied to your son's account, it was converted from Swiss Francs to pounds, with the currency conversion rate reducing the amount of pounds he received by £4,702.30. Following my involvement, Santander has now arranged to send this amount back to you, as well as £300 to acknowledge that it could have resolved this issue sooner. It has also reimbursed your original £25 transaction fee. I hope your son is able to now proceed with his house purchase, and I wish you all the very best with your cancer management. A Santander spokesman said: 'At the time, Mrs E made her international transfer it was not clear that she wanted the payment to be made in GBP. Mrs E clarified this two days after the transfer was made, when it became clear that, due to currency conversion rates, her son would receive less than she intended. 'We're sorry we did not act sooner to review this once she raised it with us, and we can confirm that we have now arranged for the shortfall to be sent to her son, as well as offering an additional £300 for the delay in reviewing her complaint, alongside a further £25 to reimburse the transaction fees.'
