Passive philanthropy is over, and Sheryl Fofaria is demanding more

In a world where financial abundance can easily become an echo of excess, the head of Social Impact & Philanthropy for UBS SEA, Sheryl Fofaria, is determined to ensure wealth moves with purpose. As a self-professed philanthropy coach at the multinational investment bank and financial services company founded and based in Switzerland, she works with clients who aren't satisfied with just writing checks — they want to build something lasting, something real.

“I believe that people are inherently good,” Sheryl explains, underscoring her faith in human nature. “They want to help others, especially when they see they can do so.”

It’s this belief in inherent goodness that drives much of her work. As Sheryl explains, it’s not just about having the means to give; it’s about a desire to see the world improve, to ease suffering, and to do so effectively. UBS serves as the bridge for these ambitions, providing the strategies and frameworks that allow philanthropists to maximise their impact.

“Thankfully, at UBS, we have a growing base of philanthropic clients who genuinely want to give back,” she says. “They know they can make a difference and rely on us to help them do it more effectively.”

Yet Sheryl’s role is more than just advisory. She’s also a coach, a mentor, and sometimes, a gentle nudge, pushing clients to flex their philanthropic muscle — an image she eagerly adopts. “Like anything in life, if you want to be good at it, you need to work hard, make time, and lean on trusted advisors,” she says. “But the world doesn’t have time. This is urgent.”

This urgency is what defines much of Sheryl’s approach to philanthropy. It’s not about waiting for the perfect moment or the perfect idea. It’s about acting now, even if it means taking risks — smart risks, as she calls them — because the alternative is simply unacceptable.

“Philanthropy, in essence, is the ultimate form of risk capital,” Sheryl explains. “It allows us to innovate and pilot solutions that neither governments nor markets could tackle alone.” She pauses for a moment, reflecting. “There’s no innovation without risk, and I would encourage anyone with the ability to make an impact to take smart risks on evidence-based, scalable solutions with diverse partners.”

The work of amplification

Collaboration is another critical pillar of Sheryl’s work. The world's challenges today — climate change, social injustice, systemic inequality, to name a few — are too big for any person or organisation to solve alone. “To drive real impact at scale, collaboration is essential,” Sheryl asserts.

This belief in collective action has led to the creation of UBS Collectives, networks of like-minded philanthropists working together to tackle some of the world’s greatest challenges. Through these partnerships, they can amplify their efforts, creating more transformative solutions than any single actor could achieve on their own.

It’s clear that innovation, risk, and collaboration are the core of Sheryl’s philosophy. But she’s quick to point out that philanthropy must also be sustainable. “We must find investable pathways to solve these difficult social and environmental issues,” she emphasises. Philanthropy alone won’t meet the demands of the Sustainable Development Goals (SDGs). Over the past decade, UBS has built a robust portfolio of impact investments and blended finance solutions, and Sheryl is passionate about this continuing focus. 

“We remain laser-focused on developing innovative financing mechanisms that attract commercial capital towards high-impact projects and sustainable development opportunities that might be overlooked by mainstream markets today.”

The luck of the lottery

Sheryl’s tone shifts when we move into more personal territory — the emotional toll of her work. “One of the most difficult things I’ve found is that to address some of the world’s most pressing problems, you need to get under the skin of these issues,” she says, her voice softening. “And that often means confronting injustice and cruelty, which can be very difficult personally.” This is not theoretical for Sheryl. It’s about facing the very real pain of the world every day and working to alleviate it.

For her, it’s a reminder of the privilege that many people, including herself, were born into. “My children and I were lucky in our lottery, but many people were not. I firmly believe it’s our responsibility and duty to help them escape whatever adverse situation they were born into.” This belief fuels her commitment to systemic change, even though she knows it’s a long, hard road.

Play

What keeps her going is the trust her clients place in UBS and its philanthropic arm, the UBS Optimus Foundation, which focuses on addressing global challenges in education, health, and the environment. “With over 25 years of track record and experience, I’m deeply grateful for the credibility we’ve built with our clients,” she says.

That trust has enabled UBS to raise significant capital for impactful solutions, including $329 million in donations last year alone, reaching 6.7 million beneficiaries.

To mark its 25th anniversary, the Foundation is celebrating with a $25 million contribution from UBS to match 25 per cent of donations made to its Anniversary Impact Appeal, further accelerating transformative initiatives across Africa, Asia, and South America.

Defining a North Star

But for Sheryl, it’s not just about the money raised or the number of beneficiaries reached. It’s about creating a mindset shift across the entire sector. “Our North Star should always be impact outcomes,” she says, stressing the importance of focusing on measurable results.

For example, it’s not enough to count the number of books donated or classrooms built in education. What matters is how much each child is learning. “If we’re funding a literacy or numeracy program, we must interrogate the learning outcomes for those children with analytical rigour. That’s the outcome.”

It’s a challenging approach, but Sheryl is optimistic about the future of philanthropy, particularly when she looks to the next generation. “They’re far more inclined to use data and evidence to make informed decisions about their giving or investing,” she says. This younger generation is driving change with their wealth and values, demanding measurable outcomes and greater accountability. They are, in Sheryl’s view, a beacon of hope.

As we wrap up our conversation, Sheryl reflects on the enormity of the task ahead. “Philanthropy alone won’t solve these issues, but by developing innovative financing mechanisms and building strong partnerships, we can come closer to finding investable pathways to solve these social and environmental problems,” she says.

For Sheryl, the work is urgent, and the challenges are immense, but with the right approach — one that balances risk with innovation and collaboration with accountability — the future holds tremendous promise.