to removing human supervision from the engagement sequence. Such weapons will rely on machine learning and it is this backbone, says Walker, that is singularly inappropriate for battlefield weapons that must above all be predictable. He is also quick to point out the limiting role of what he calls “soft constraints”, the importance here of context and organisational inertia. Walker also acknowledges that banning such technology outright is hard as the AI routines have multiple applications across industries. Instead, J Leon’s advocacy focuses on enshrining the concept of “meaningful human control” as a new add-on to the Geneva Conventions, something the UN has been debating for the last five years. J Leon’s interests in this space also include preventing the use of explosives in built-up areas and ensuring proper assessment of post-conflict zones.


Pure philanthropy While this particular philanthropy strand is global in scope, the family try to focus the majority of their giving in the UK, where they do the majority of their for- profit business. Other portfolio highlights for Leon’s Philanthropy Council include Nightstop, which provides crisis accommodation and support for young people; Hope Not Hate, a campaign against hate speech; and the Prison Reform Trust. They are also interested in children who have involved by the care system, and mental health, “which we never thought we would do, but we found everything relates back to mental health,” Walker says. Leon is committed to pure philanthropy


as opposed to “impact” investing. “Our approach is to sweat the portfolio


OUR APPROACH


IS TO SWEAT THE PORTFOLIO SUCH THAT WE CAN GIVE MORE


ISSUE 74 | 2018


so that we can give more,” Walker says. Interestingly, there are currently


no ESG filters on the business’s investments, something that is being looked at this year. For the moment, Walker reckons that “our fund managers value their own franchise so that they are not going to be investing in things that are immoral”.


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Stronger ties through giving The rejuvenated philanthropy programme has been a fantastic “glue” for bringing the family together, particularly for engaging the next generation. On top of formal grant giving, each year family members are given a discrete pot of money to allocate to a cause of their choice, with those under 18 given their own smaller grants to donate. The children and teens can give the money to whichever organisation they choose, with the caveat that they must have visited that charity and be able to discuss their choices. It is a system inspired by a Scottish family office that proposed the process while Walker was chair of the Institute of Family Business’ Family Office Forum in the noughties. The device has worked wonders. “When we have our family forum every


two years, we go away for the weekend,” Walker says. “Once upon a time I would speak to the


family forum about every line item, every hedge fund, whatever. “Nowadays, I’m given about 40


minutes to do it all, and instead it is all about what those children have chosen as their charities, what we’re doing philanthropy-wise, our footprint, and legacy. It’s a great glue, we’ve found it extraordinary, and it’s really brought the family together.”


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