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Bloomberg

March 6, 2015

Italian carmaker Ferrari may return to family control during an initial public offering this year providing current owner Fiat introduces a “loyalty share” plan that will boost voting rights of established investors.

Italian carmaker Ferrari may return to family control during an initial public offering this year if current owner Fiat introduces a “loyalty share” plan that will boost voting rights of established investors.

Loyalty shares have recently caused a divide between family businesses and institutional investors in Italy. Introduced by the Matteo Renzi-led government last year, they allow shareholders double voting rights if they hold stock longer than two years.

August 9, 2011

HSBC manages more assets of family offices than any other bank in the world, according to a survey by Bloomberg Markets magazine. The survey, which ranks the top 50 banks which manage family office money and commercial multi family offices, found HSBC’s private wealth solutions group to be the biggest, with assets under management of $102 billion.

HSBC manages more assets of family offices than any other bank in the world, according to a survey by Bloomberg Markets magazine.

The survey, which ranks the top 50 banks which manage family office money and commercial multi family offices, found HSBC’s private wealth solutions group to be the biggest, with assets under management of $102 billion. New York-based Bessemer Trust was ranked second, with more than $44 billion under management.

February 17, 2011

Family-controlled luxury goods company Hermes has said that it wants fellow family business LVMH to reduce its stake in Hermes to less than 10%, according to a report in Bloomberg.

Family-controlled luxury goods company Hermes has said that it wants fellow family business LVMH to reduce its stake in Hermes to less than 10%, according to a report in Bloomberg.

LVMH currently holds a 20% stake in Hermes, which, according to executive chairman Bertrand Puech, is "not normal". He wants LVMH chief executive Bernard Arnault to reduce his stake by more than half to make available the other shares to the open market.

January 13, 2011

Media and data company Bloomberg is to launch a rich list that will pitch it against the well-established Forbes billionaire list.

Media and data company Bloomberg is to launch a rich list that will pitch it against the well-established Forbes billionaire list.

In a statement, the New York-based company said it would hire Matthew Miller, former editor of Forbes' billionaire list, in February. Bloomberg plans to launch the rich list sometime in the next two years, but gave no exact date for the launch.

December 2, 2009

McGraw-Hill Companies, the family controlled publisher, announced yesterday it has completed the sale of its flagship business title to Bloomberg LP.

McGraw-Hill Companies, the family controlled publisher, announced yesterday it has completed the sale of its flagship business title to Bloomberg LP.

Business Week was sold to the financial news agency for $5 million in cash, while Bloomberg has also assumed an unspecified amount of Business Week's liabilities.

October 14, 2009

McGraw-Hill Companies, the family controlled publisher, has sold its flagship business title to Bloomberg LP for an as yet undisclosed amount.

McGraw-Hill Companies, the family controlled publisher, has sold its flagship business title to Bloomberg LP for an as yet undisclosed amount.

November 1, 2004

A growing number of super wealthy US families and a decline in service at the banks that once catered to them have sparked an explosion in multi-family offices, according to a survey by Bloomberg and Family Office Management.

Scott Mcculloch is editor of Families in Business.

A growing number of super wealthy US families and a decline in service at the banks that once catered to them have sparked an explosion in multi-family offices, according to a survey by Bloomberg and Family Office Management.
 

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