Roger Gifford: Banking not all greed and bonuses

The City of London may get a bashing for its financial wrong-doing, but not for its philanthropy, or hefty donations to good causes.

Awards held in London on Wednesday evening celebrated outstanding philanthropic achievement.

For the first time, a new category celebrating City philanthropy was included.

Much of the money donated in the City comes from bonuses. On Wednesday the Royal Bank of Scotland said it would raid its bonus pool to help pay its huge Libor fines.

Alderman Roger Gifford, Lord Mayor of the City of London, told the Today programme: "Philanthropy has always been very active in the City and I think people who have made money have felt the desire to invest back into the society they're living in.

"Today there's a very strong feeling in the city that it isn't all about greed and bonuses."

First broadcast on BBC Radio 4's Today Programme on Thursday 7 February 2013.

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