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Wealth
Family offices in India have professionalised at an astonishing rate in the four years since Campden Family Connect was founded, but engaging the next generation remains a key concern and the coronavirus pandemic is causing pain as portfolios lose value.
Sir James Matthew, the 19th century Anglo-Irish judge, is reputed once to have said: “In England, justice is open to all, like the Ritz Hotel.” That may be the hope of Sir Frederick Barclay, who, with his daughter Amanda, recently began proceedings in the High Court in London alleging that their private discussions in the hotel had been bugged for months by children and at least one grandchild of Sir Frederick’s estranged brother, Sir David.
The boards of family businesses need to step up their professionalisation to broaden succession planning, introduce the next generation and improve the gender mix, says a leading international family business consultant.
Seeking to escape the inflation of the 1970s, policymakers have inadvertently engineered an equally powerful deflation machine. Over the past 30 years, this has been mightily reinforced by the transformation of China’s economy and the impact of technology.
Investment fund managers are appealing for calm among investors as the coronavirus pandemic spreads, anticipating a six-month market disruption but divided on if there will emerge a “new normal”.
February saw concerns over coronavirus truly go global, as cases emerged across Europe and the US, shattering the illusion that this was an infection limited to China.
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