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Family Business

July 19, 2017

Carla Fendi, award-winning honorary president, public face, entrepreneur, arts collector and patron, and philanthropist of the billion-euro Italian family luxury fashion house Fendi, has died in Rome at the age of 79 after a long illness.

Carla Fendi, award-winning honorary president, public face, entrepreneur, arts collector and patron, and philanthropist of the billion-euro Italian family luxury fashion house Fendi, has died in Rome at the age of 79 after a long illness.

Carla and her equally formidable Fendi sisters Paola, Anna, Franca and Alda transformed the humble family business into a desirable global brand, renowned for its monogrammed handbags and leather goods beloved by Hollywood and European royalty.

July 18, 2017

Two factors play a major role in the success of multigenerational wealthy families: they grow their assets well above their consumption rate, and they consistently develop family talent—generation after generation

Two factors play a major role in the success of multigenerational wealthy families: they grow their assets well above their consumption rate, and they consistently develop family talent—generation after generation. Developing new wealth creators in a family business is easier said than done. The question is also whether the next generation is even willing to follow in the parents’ footsteps.

July 17, 2017

Top-tier salaries in family offices have increased since 2016 with most chief executives now paid more than $300,000 a year, a study by Agreus reveals.

Top-tier salaries in family offices have increased since 2016 with most chief executives now paid more than $300,000 a year, a study by Agreus reveals.

Chief executives and investment related roles also generated the biggest bonuses of between 31% and 50%, with the high-end receiving more than 50%. However, the percentage of salary paid as bonuses was similar to the findings last year by the family office resourcing and recruitment consultancy.

July 12, 2017

Purpose, not profit, is the key to success in a turbulent global economy but international business leaders must back words with deeds, says the latest research by EY.

Purpose, not profit, is the key to success in a turbulent global economy but international business leaders must back words with deeds, says the latest research by EY.

Almost three-quarters (73%) of respondents said embracing and integrating corporate purpose in their organisation was vital in flourishing prosperity despite uncertain economic conditions.

July 11, 2017

The critical issues facing family businesses and how family owners can ensure their businesses remain successful were on the agenda of a seminar last month hosted by Kim Lalli, senior partner of Wedlake Bell and founder of the firm’s India practice and Sonu Bhasin, founder of Families and Business. Rosalyn Breedy, corporate and financial services partner at Wedlake Bell, reports.

The critical issues facing family businesses and how family owners can ensure their businesses remain successful were on the agenda of a seminar last month hosted by Kim Lalli, senior partner of Wedlake Bell and founder of the firm’s India practice and Sonu Bhasin, founder of Families and Business. Rosalyn Breedy, corporate and financial services partner at Wedlake Bell, reports.

July 10, 2017

The misconception that wealth structuring means losing control is the biggest obstacle facing wealth managers when dealing with ultra-wealthy Chinese families and investors, says Jersey Finance.

The misconception that wealth structuring means losing control is the biggest obstacle facing wealth managers when dealing with ultra-wealthy Chinese families and investors, says Jersey Finance.

The international finance centre found 88% of practitioners it surveyed pointed to the loss of control as their greatest challenge in advising Chinese clients.

July 10, 2017

Women, Millennial and second-generation clients are driving the growth of the global impact intermediary sector, says a non-profit member organisation for impact investors.

Women, Millennial and second-generation clients are driving the growth of the global impact intermediary sector, says a non-profit member organisation for impact investors.

Women, more often than men, were asking for impact related services (60% women, 40% men), Toniic found in its T100: Insights from Impact Advisors and Consultants.

July 6, 2017

Britain’s wealthiest land owning family want to make “sensational again” a prime piece of London real estate larger than Trafalgar Square.

Britain’s wealthiest land owning family want to make “sensational again” a prime piece of London real estate larger than Trafalgar Square.

The principle of the day-to-day management of the Grosvenor square has been confirmed, with the handover expected in early 2018. This will see management of the square go back to the Grosvenor family who originally constructed the square in the 1720s, from the Royal Parks of London.

July 6, 2017

Asia’s tradition of religious giving and increasing wealth is being channelled into a growing movement towards social investing among the wealthy and family offices, new research finds.

Asia’s tradition of religious giving and increasing wealth is being channelled into a growing movement towards social investing among the wealthy and family offices, new research finds.

Countries with a legacy of wealth, such as Singapore and Hong Kong, saw family foundations take a more prominent role in strategic philanthropy, according to The Social Investment Landscape in Asia by the Asian Venture Philanthropy Network (AVPN).

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