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Governance

December 16, 2015

State-owned Italian bank Cassa Depositi e Prestiti (CDP) is to set up a private equity fund to help family businesses, but a family business expert questions to what degree it will achieve its aim of helping them go public. 

State-owned Italian bank Cassa Depositi e Prestiti (CDP) is to set up a private equity fund to help family businesses, but a family business expert questions to what degree it will achieve its aim of helping them go public.

The initiative is the first of many more planned by the CDP as part of its plans to invest in domestic companies and help boost the country’s economy.

The private equity fund is one of the pillars of the new business plan.

December 10, 2015

On a recent trip to Australia I met an entrepreneurial couple who talked about the annual cash flush they provide to their children. When digging deeper the conversation touched on topics of ‘how much is enough’ and ‘how to keep them responsible citizens in their communities despite the money’. In our advisory work we often get involved in such discussions. Conflicts in families mainly centre about two issues: power (who leads the family company) and money (who gets how much access to cash). Let’s focus on the money for now.

On a recent trip to Australia I met an entrepreneurial couple who talked about the annual cash flush they provide to their children. When digging deeper the conversation touched on topics of ‘how much is enough’ and ‘how to keep them responsible citizens in their communities despite the money’. In our advisory work we often get involved in such discussions. Conflicts in families mainly centre about two issues: power (who leads the family company) and money (who gets how much access to cash). Let’s focus on the money for now.

December 8, 2015

A New Zealand businessman has shed tears at a shareholder meeting as he defended the appointment of his daughter to chairman of the jewellery company he founded.
 

A New Zealand businessman has shed tears at a shareholder meeting as he defended the appointment of his daughter to chairman of the jewellery company he founded.

Michael Hill International addressed shareholders at its annual meeting in Auckland last week, the first time since the business transitioned from the first to second generation of the family.

October 1, 2015

UK couples are increasingly avoiding the courts in divorce cases due to media interest in proceedings, which sees their assets, financial arrangements and other personal details become public, according to a local law firm.

UK couples are increasingly avoiding the courts in divorce cases due to media interest in proceedings, which sees their assets, financial arrangements and other personal details become public, according to a local law firm.

Couples can request reporting restrictions, explains UK firm Hugh James, but are required to alert the media to their application for privacy to give them the opportunity to contest it.

September 11, 2015

When Christine Galloway joined the Dayton family office of Minneapolis in the early 1990s, the industry was in its infancy. Now, freshly retired, she reflects on her experience working for the family that created one of the US’s largest retail empires, and the strategies she has helped set in place to ensure the family office lasts for generations to come.

July 23, 2015

Indian family real estate business Lodha Group will be split into two entities to ease succession planning into the second generation – a strategy that is common in India, according to a family business academic based in the country.

Indian family real estate business Lodha Group will be split into two entities to ease succession planning into the second generation – a strategy that is common in India, according to a family business academic based in the country.

Lodha Group chairman and founder Mangal Prabhat Lodha plans to appoint his eldest son, Abhishek, 36, to the helm of the real estate business, while his younger son, Abhinandan, 33, will head a new financial services business.

June 22, 2015

More than four-fifths of Asian family businesses do not have a succession plan in place despite the majority expecting to handover to the next generation within five years, new research has revealed.

More than four-fifths of Asian family businesses do not have a succession plan in place despite the majority expecting to handover to the next generation within five years, new research has revealed.

June 19, 2015

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

Earlier this month it was revealed that Rupert Murdoch was standing back as chief executive of the movie and entertainment studio, appointing his sons to top positions within the company, with James becoming chief executive.

May 26, 2015

While a good reputation can bolster consumer loyalty and even increase sales, one slip up in the public eye can set a family name back generations. A new report by Campden Wealth and Credit Suisse looks at the increasing importance of reputation management in Asia

When Korea Air vice president Cho Hyun-ah delayed a flight on her family’s airline last year after becoming enraged by a flight attendant who served her nuts in a bag rather than on a plate, the public fallout was immediate. Twitter hashtags were created and newspaper editorials criticised her entitlement. Within a month the 40-year-old had resigned from all her positions within the family holding company Hanjin Group and is facing criminal charges, while her family’s airline is looking at a $2 million fine and possible flight bans.

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