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succession

July 18, 2019

Asia-Pacific and North American business families of wealth have powered the record-breaking growth in the number of family offices by more than one-third in only two years.

Asia-Pacific and North American business families of wealth have powered the record-breaking growth in the number of family offices by more than one-third in only two years.

The total estimated assets under management of family offices stands at $5.9 trillion, while the wealth of the families behind them totals a vast $9.4 trillion.

June 3, 2019

As operating environments become increasingly competitive and complex, the family office of the future will need to become savvier about their investment strategies while tackling challenges such as cybersecurity and succession, experts say. The ones that do not risk sleepwalking into disaster.

Early in 2019, a 20-year-old German man admitted to police that he was behind one of the country’s biggest data breaches where hundreds of documents containing private information of a thousand public figures were leaked online.

May 27, 2019

Family offices are standing on the precipice of a multi-trillion dollar transfer of wealth between generations, yet succession planning among family offices is moving at a glacial pace. What are the barriers to planning? And what should families be doing now?

The cautionary tale of India’s Ambani family should be enough to scare any patriarch or matriarch into succession action. The sudden death of Reliance founder Dhirubhai Ambani, aged 69, in 2002 sparked an acrimonious battle between his two billionaire sons, Mukesh and Anil, leading to the brothers splitting up the family business in a deal mediated by their mother. Today relations are civil, but the businesses they inherited have had very different outcomes.

May 16, 2019

Business principals looking to secure their legacy, but missing a family successor, could take inspiration from the founder of Richer Sounds who is transferring the bulk of his shares worth $4.4 million into an Employee Ownership Trust.

Business principals looking to secure their legacy, but missing a family successor, could take inspiration from the founder of Richer Sounds who is transferring the bulk of his shares worth $4.4 million into an Employee Ownership Trust.

May 8, 2019

Succession transition sets up Ricola for the future, Gina Rinehart’s family feud to stay private, and billionaire Zhao family embroiled in US college admissions scandal.

Succession transition sets up Ricola for the future

The principal of Swiss herbal product manufacturer Ricola has relinquished daily duties to a non-family director while his son steps up onto the board of directors.

Felix Richterich, 60, remained as chairman with a focus on strategy from 1 May after seven years as both chairman and chief executive. The grandson of founder Emil Richterich managed the Laufen-based company for 27 years.

March 21, 2019

Latin American family businesses must create value and thrive for the economic well-being of their home countries, but succession planning is the most common reason why family firms fail.

Latin American family businesses must create value and thrive for the economic well-being of their home countries, but succession planning is the most common reason why family firms fail.

February 12, 2019

You can’t choose your family, but you can choose who runs your business. Alexandra Newlove talks to a range of experts about bringing in outside help

In 2006, as Ford Motor Company headed towards a $12.7 billion loss, the worst in the company’s 103-year history, Bill Ford, chief executive and great-grandson of the legendary Henry Ford, realised he needed help.

In an email to staff, Ford introduced his new top man: former Boeing transformation master Alan Mulally, who over the next eight years executed a revitalisation which saw the automaker’s stock appreciate more than 1000% from recession lows, and Mulally remembered as one of the all-time great business leaders.

January 30, 2019

Slowing growth with Brexit as the obstacle, loose succession planning and the rise of cybercrime are the challenges keeping Irish family business leaders awake at night, according to research.

Slowing growth with Brexit as the obstacle, loose succession planning and the rise of cybercrime are the challenges keeping Irish family business leaders awake at night, according to research.

However, Ireland performed slightly better than global counterparts on particular areas of diversity. A quarter (25%) of Irish family business board members were female compared to 21% global and 28% of Irish family management teams were women, PwC’s 2019 Irish Family Business Survey discovered.

January 24, 2019

Vishal Gada (pictured), co-founder and partner at Dhruva Advisors LLP, weighs up the pros and cons of a Will and a trust when planning succession

Vishal Gada, co-founder and partner at Dhruva Advisors LLP, weighs up the pros and cons of a Will and a trust when planning succession.

Succession is the biggest challenge being faced by Indian families. Also, it is not uncommon of businesses being passed on to next generations where individuals with different ideologies and varied vision are obligated to manage the business cohesively.

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