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A longtime employee of Michigan family office EDP Management Company has agreed to plead guilty to swindling its matriarch out of $16 million through money laundering and wire fraud.

US wealth manager Abbot Downing has established a new business strategy to better focus on single family office clients, with its president stating that more investment entities are transitioning into family offices in the face of increasing regulation.

National Amusements third-gen Shari Redstone was the only vote from the board of directors at Viacom, her family’s media empire, opposing the appointment of Philippe Dauman as chairman on Thursday.

Marketing your family business in a war-torn country might sound like a heavy cross to bear, but for Wafa Elnefeidi, third-generation general manager at Sudan’s Elnefeidi Group, the main challenge stems from gender inequality. 

Sumner Redstone’s expected resignation from family media empire Viacom today could unleash a succession battle between its non-family chief executive and his daughter, Shari, who has released a pointed statement about leadership at the company.

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