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Wealth

May 23, 2013

Brewing fortunes are not uncommon. But few of these fortunes have been turned into such a successful family office as Quilvest. Campden interviews its chief executive.

 

May 17, 2013

Johann Rupert, the second-gen chairman of Switzerland-based luxury watch and jewellery group Richemont, has announced he plans to take a gap year from the family business starting from September.

Johann Rupert, the second-gen chairman of Switzerland-based luxury watch and jewellery group Richemont, has announced he plans to take a gap year from the family business starting from September.

The 62-year-old has been at the helm of Richemont for 25 years. He told reporters: "I just want to be master of my time for some time, it is ironic someone in the watch business should not be in control of his time."

May 15, 2013

Deutsche Bank has announced it has merged two of its family offices into one unit to create Deutsche Oppenheim Family Office, creating the largest family office in Germany.

Deutsche Bank has announced it has merged two of its family offices into one unit to create Deutsche Oppenheim Family Office, creating the largest family office in Germany. It will offer a full range of services for ultra-high net worth clients as well as cooperation with single or multi family offices.

Created from the merger of Oppenheim Vermögenstreuhand and Wilhelm von Finck Deutsche Family Office, the new family office has total assets under management of around €10 billion.

April 30, 2013

The value of prime real estate in New York, London, Hong Kong and Singapore is set to rise by 27% in the next five years, due to the growing number of ultra-high net worth individuals globally, according to recent research.

The value of prime real estate in New York, London, Hong Kong and Singapore is set to rise by 27% in the next five years, due to the growing number of ultra-high net worth individuals globally, according to recent research.

The Global Prime Sector Report – published by property developers Candy & Candy, Deutsche Bank and estate agent Savills – found that by 2017 the UHNW population was expected to increased by 20%, with their collective wealth increasing by 30% as international markets recover.

April 12, 2013

The rich aren’t idle and when they aren’t thinking about work, they’re thinking about health, according to two new surveys.

The rich aren’t idle and when they aren’t thinking about work, they’re thinking about health, according to two new surveys.

Contrary to popular perception the rich aren’t idle, indeed the richer you are the busier you are, found a survey by Ledbury Research, a London-based consultancy.

April 8, 2013

Ask Geoffroy Dedieu how family offices should invest and you’re likely to get a long and passionate response. Dedieu, who heads the UK-based family office of one of Nigeria’s wealthiest individuals, Theophilus Danjuma, reckons not just family offices, but all investors should invest directly in underlying assets when they can.

Ask Geoffroy Dedieu how family offices should invest and you’re likely to get a long and passionate response. Dedieu, who heads the UK-based family office of one of Nigeria’s wealthiest individuals, Theophilus Danjuma, reckons not just family offices, but all investors should invest directly in underlying assets when they can.

April 5, 2013

The number of wealthy families that have opted for so-called written constitutions to resolve potential conflicts has surged since the onset of the financial crisis, according to a new survey.

The number of wealthy families that have opted for so-called written constitutions to resolve potential conflicts has surged since the onset of the financial crisis, according to a new survey.

Stonehage Group, a multi family office based in London, said that more than 20% of its ultra-high net worth clients, many of them family businesses, now have written constitutions, compared with just a few percent before the financial crisis.

March 29, 2013

Ownership of a private jet endorses super-rich status, but running costs might tip even the most cost-conscious owner into the ranks of the poor if they’re not careful.

Ownership of a private jet endorses super-rich status, but running costs might tip even the most cost-conscious owner into the ranks of the poor if they’re not careful.

March 8, 2013

Family offices are being warned it is “risky” to ignore the introduction of the Foreign Account Tax Compliance Act next year. 

Family offices are being warned it is “risky” to ignore the introduction of the Foreign Account Tax Compliance Act next year.

Tom Humphreys, head of the federal tax practice group at law firm Morrison & Foerster, said the US government is “marching along fairly deliberately to implement Fatca” on 1 January 2014. It has signed a number of inter-governmental agreements with countries recently.

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