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Wealth

January 13, 2020

For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).

For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).

January 10, 2020

China’s billionaire business families are setting up their own family offices at a phenomenal rate as ageing principals shift their priorities from wealth creation to preservation and succession.

China’s billionaire business families are setting up their own family offices at a phenomenal rate as ageing principals shift their priorities from wealth creation to preservation and succession.

More than three-quarters of Chinese families surveyed by Campden Wealth said they either established or joined a family office after 2010. In the last six years, interest has been growing, and almost one-third reported they began using family office services in either 2018 (13%) or in the first eight months of 2019 (18%).

January 10, 2020

Pentland consolidates global Speedo portfolio ahead of Olympics, Heinrich Deichmann on family-funded growth and philanthropy, and family succeeds Georges Duboeuf, France’s “pope of Beaujolais”.

Pentland consolidates global Speedo portfolio ahead of Olympics

British family business Pentland Group has acquired Speedo North America for $170 million, ahead of the 2020 Tokyo Olympics and Paralympics and the competition of many Speedo athletes.

The second-generation $3 billion group announced this week it had entered into a definitive agreement for the business with apparel company PVH Corp. Speedo International licensed the Speedo trademark to a PVH subsidiary for use in North America and the Caribbean.

January 9, 2020

The year of 2019 was one when many of the six impossible things before breakfast remain unresolved—with the shining exception of Brexit, and the wider resolution of domestic politics. We can still feel the political earthquake which struck the UK last month—we cannot yet see the effect of it. Most political earthquakes, when they happen, are scarcely discerned, and even those which are perceived for what they are, do not easily reveal the new pathways created from the changed landscape.

The year of 2019 was one when many of the six impossible things before breakfast remain unresolved—with the shining exception of Brexit, and the wider resolution of domestic politics. We can still feel the political earthquake which struck the UK last month—we cannot yet see the effect of it. Most political earthquakes, when they happen, are scarcely discerned, and even those which are perceived for what they are, do not easily reveal the new pathways created from the changed landscape.

January 6, 2020

This small Mediterranean country—known as the perfect blend of gorgeous coastline and dramatic mountains—has much more to offer than meets the eye.

This small Mediterranean country—known as the perfect blend of gorgeous coastline and dramatic mountains—has much more to offer than meets the eye.

In terms of the business climate, significant progress has been made in the last couple of years towards streamlining business start-up procedures. Many investors have entered the market which has resulted in a remarkable rise of foreign direct investment. But, is there perhaps a development opportunity which might have been overseen? Does Montenegro have the potential to become a regional IT hub?

October 30, 2019

Barclay brothers put Telegraph newspaper up for sale, Sino Biopharmaceutical founder transfers wealth to 24-year-old son and Galeries Lafayette to open 10 new stores in China by 2025.

Barclay brothers put Telegraph newspaper up for sale

The UK’s billionaire Barclay brothers have put the Telegraph newspapers up for sale as they review their family empire.

Sir David Barclay and his identical twin Sir Frederick (pictured left) have owned the media group since 2004, but were said to be eyeing a sale as a part of a wider break-up of their sprawling network of interests, according to The Times.

October 16, 2019

Family feud at Italy’s la Repubblica as founder seeks to take control from sons, India pharma brothers arrested over ‘330 million’ fraud and real estate family donate $100 million to help first-generation students.

Family feud at Italy’s la Repubblica as founder seeks to take control from sons

A feud at one of Italy’s most powerful dynasties broke out over the weekend after media tycoon Carlo De Benedetti accused his sons of mismanaging the newspaper business he founded and sought to regain control.

The 84-year-old founder came out of retirement on Sunday and made a €38 million ($42 million) offer to buy a 30% stake in GEDI Gruppo Editoriale SpA, the owner of daily newspapers la Repubblica and La Stampa.

September 23, 2019

With the might of the Chinese government supporting them, family businesses in China have flourished in the last 40 years. But while business is thriving, many are facing succession challenges borne from a lack of heirs willing to take the helm. Susan Lingeswaran takes a look

On 13 December, 1978, not long after China was out of the grip of Mao’s Cultural Revolution, then-leader Deng Xiaoping delivered a radical speech to his Communist Party proposing China learn from richer countries, allow workers and peasants to compete to get ahead, and give enterprises the power to make decisions or try new ventures.

Just five days later, a council of 300 party elite agreed to adopt Deng’s vision, and China kicked off its journey from economic seclusion to becoming the world’s factory.

September 2, 2019

With more billionaires now than any other region, Asia has the potential to become a world leader in philanthropic giving, but is it really that easy? Susan Lingeswaran explores the intricacies of giving among the world’s fastest-growing economies

When legendary Hong Kong actor Chow Yun-Fat—of Crouching Tiger, Hidden Dragon and Pirates of the Caribbean: At World’s End fame—announced plans in late 2018 to give away his entire $715 million fortune to charity after his death, the country’s media went into overdrive.

One Hong Kong newspaper called the announcement one of the biggest events in philanthropy to date. Another declared Chow, 63, the most selfless actor in the world and demanded other ultra-high net worth individuals in the region follow suit.

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