LOS ANGELES--(BUSINESS WIRE)--May 29, 2007--After over a decade of service, Jonathan Jaffrey resigns as Chief Operating Officer and Vice President of the W.M. Keck Foundation to start Springbanc Philanthropy Advisors. His resignation is effective June 30. Springbanc opens its doors June 1.

"Our objective at Springbanc Philanthropy Advisors is to provide professional and comprehensive foundation consulting and both investment and back office support," said Mr. Jaffrey. "We will facilitate the development of giving programs focusing on each individual or family's passions and then provide the administration typically only available to the largest private foundations. We will also make our services available to large foundations that want to create and implement new operational and grant making strategies."

Mr. Jaffrey joined the W.M. Keck Foundation in 1996, shortly after Robert A. Day, grandson of the Foundation's founder, became Chairman and President. During his tenure at the W.M. Keck Foundation the endowment grew from $1.0 billion to $1.4 billion while granting $735 million to charitable organizations. Mr. Jaffrey was a member of the investment group overseeing the Foundation's endowment.

Mr. Jaffrey led the design and implementation of the W.M. Keck Foundation's current grant policies and procedures. He also designed and managed the Foundation's transition from single program area grant analysis and review to multi-disciplinary grant analysis where a team of senior program staff review each grant proposal.

Springbanc Philanthropy Advisors is a wholly owned subsidiary of Springbanc Group, LLC. Springbanc Group offers customized, integrated wealth and asset management for high net worth individuals, families and foundations. A service-driven boutique firm based in Los Angeles, Springbanc Group consists of three entities: a multi-family office, a private equity firm and an advisory firm for foundations.

Copyright Business Wire 2007

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