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Wealth
A significant number of family businesses do not have a succession plan in place. Failure to address this is likely to be to the detriment of the business in the long-run. The family need to decide what the future of the business looks like, and crucially which family members, if any, wish to be involved.
Ronald Reagan ran in 1984 with a famous TV commercial which started with the line ‘It’s morning in America’. This was to signify that the best was yet to come. We think there is a chance, just a chance, that the UK could also be at the start of an exciting period.
Agnelli family office weighs selling PartnerRe to Covea for $9 billion, Reimann family looks to float $7 billion coffee empire, L’Oreal family actions next gen succession.
Chinese families started shifting their investment strategy from wealth generation to preservation in anticipation of a global economic downturn even before the deadly coronavirus outbreak disrupted China’s slowing economy.
Principal makes way for next gen succession at H&M, Louis Dreyfus Company heiress open to selling stake and Hong Kong headwinds hit LVMH.
If you listen closely to leading business figures from Asia, you get a sense for their economic fears and expectations. After visiting a leadership summit in Singapore, I am ever more convinced that we will be facing a new global Cold War, which will be fought over technology dominance. Europe needs to prepare for that.
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