Bank of Ireland Private Banking commissions book by Leading Psychologist on 'Parenting & Privilege'

'I want to give my children enough of an inheritance that they will feel like they can do anything, but not so much of an inheritance that they will not do anything"

Warren Buffet

Bank of Ireland Private Banking today (Monday 22 November 2004) announced that it has sponsored the publication of a new book entitled'Parenting and Privilege - Raising children in an affluent society'.  The book, written by leading psychologist, Dr Mark Harrold, is aimed at helping parents avoid the pitfalls of raising children in an increasingly affluent but time-starved society.

Last week The Economist magazine awarded Ireland first place in the world in quality of life.  The research used indicators such as income, health, freedom, unemployment and family life, and Ireland pipped countries such as Norway, Switzerland and Luxembourg for the top slot.  Yet, our newfound affluence presents some new challenges to Irish society.  

According to Mark Cunningham, Managing Director, Bank of Ireland Private Banking: 

"We are delighted to sponsor Dr Harrold's book.  Its publication is particularly timely given the continued strong outlook for the Irish economy. Some, perhaps most, of the continuing changes that this will bring are very welcome, but many will present challenges if the Economist's recent analysis is to be repeated into the future. Most notably, increased affluence and busy lives have changed the way our children are raised. Indeed, some amongst the wealthiest of the leaders in our society have commented to me in recent years that the children of the 'Tiger economy' will need to be carefully nurtured if we are to preserve much of the values we continue to hold dear as a society.

In his book, Dr Harrold discusses some of the core principles of parenting in the context of a wealthy environment - including such issues as avoiding spoiling children, passing on family wealth and engendering confidence and a sense of responsibility in the children who are beneficiaries of family wealth.

Bank of Ireland's contribution to the book's content outlines some of the wealth management issues that we see with our clients with increasing frequency.  Included are topics such as inheritance and estate planning, issues that families are increasingly facing in a more affluent society".

The author, Dr Mark Harrold, is a clinical psychologist who has practiced in Ireland for the past 14 years.  A former columnist with The Irish Times, where he wrote about effective parenting strategies, Dr Harrold has made numerous contributions to both print and broadcast media on topics related to behavioural psychology. 

Parenting and Privilege is published by Blackhall Publishing Limited and will be available in bookstores from Tuesday 23rdNovember 2004.  All royalties from the book will be donated by the author to Fr Peter McVerry's charity 'Welcome Home'.

End

Contact:

Kevin Quinn, Bank of Ireland Private Banking on 01 637 8694 or 087 283 3240

Anne Mathews, Group Corporate Communications on 01 604 3836 or 087 246 0358

Dr Mark Harrold at 01 8451903 or 087 293 4576