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next generation

May 9, 2016

Statistics increasingly tout the number of women being considered for leadership roles in US family businesses. But should family businesses be patting themselves on the back for gender equality just yet? 

May 2, 2016

Their outlook shaped by the global financial crisis, Millennials have a cautious outlook but are keen to have a positive effect on the world. Advisers have to engage these upcoming members of ultra-high net worth families on their terms, explains Ned Dane, senior vice president and head of OppenheimerFunds’ Private Client Group

Their outlook shaped by the global financial crisis, Millennials have a cautious outlook but are keen to have a positive effect on the world. Advisers have to engage these upcoming members of ultra-high net worth families on their terms, explains Ned Dane, senior vice president and head of OppenheimerFunds’ Private Client Group

What was the purpose of carrying out this study?

April 28, 2016

The new generation of ultra-high net worth family members wants to do more than just see their fortunes grow. A new study by OppenheimerFunds and Campden Research has found that these ‘Millennials’ want to make a dent in the world’s problems, but not the way their parents did it. 

The new generation of ultra-high net worth family members wants to do more than just see their fortunes grow. A new study by OppenheimerFunds and Campden Research has found that these ‘Millennials’ want to make a dent in the world’s problems, but not the way their parents did it. 

February 5, 2016

Marketing your family business in a war-torn country might sound like a heavy cross to bear, but for Wafa Elnefeidi, third-generation general manager at Sudan’s Elnefeidi Group, the main challenge stems from gender inequality. 

Keeping a business afloat through two rounds of north-south civil war is no easy task. Imagine then the challenges of building out a marketing department in the same environment. Yet at the Elnefeidi Group, one of Sudan’s most prominent family-owned conglomerates, marketing has been a staple for more than 80 years.

January 19, 2016

The next generation has hooked onto impact investing like no other – so what do family offices managing multigenerational wealth need to know?

Impact investing isn’t only for the softhearted. In the past year alone, BlackRock launched new business unit BlackRock Impact, Goldman Sachs bought impact advisory firm Imprint, and former Massachusetts governor Deval Patrick now heads up Bain & Capital’s impact fund. “Some of the most celebrated and followed world-class investors have jumped into impact investing in the last year,” says Jean Case, AOL Inc entrepreneur and CEO at the Case Foundation.

November 30, 2015

One of the world’s largest ship-owning associations is now chaired by a third-generation member of Hong Kong shipping company Wah Kwong Maritime Transport.

One of the world’s largest ship-owning associations is now chaired by a third-generation member of Hong Kong shipping company Wah Kwong Maritime Transport.

Sabrina Chao, who took the helm at her family’s company in 2003 when her father suffered a stroke, was appointed chairwoman of the Hong Kong Shipowners’ Association (HKSOA) at the organisation’s annual general meeting last week.

July 30, 2015

When it comes to handing over the reins to successors, the odds are stacked against family businesses. Around 70% of families fail to properly pass their business or wealth to the next generation. One of the biggest reasons is that half of families lack a succession plan: a process for identifying and nurturing people to become leaders in the business.

When it comes to handing over the reins to successors, the odds are stacked against family businesses. Around 70% of families fail to properly pass their business or wealth to the next generation. One of the biggest reasons is that half of families lack a succession plan: a process for identifying and nurturing people to become leaders in the business.

July 8, 2015

When Riaz Currimjee, a member of one of the oldest and largest industrial family conglomerates in Mauritius, returned home for Christmas wearing a t-shirt with “Africa is the Future” emblazoned across the chest, many of his family thought he’d lost the plot. So when the 42-year-old announced he was going to focus his new private equity firm Surya Capital on the birthplace of mankind he got more than a few odd looks. 

It’s actually a little difficult to describe Surya Capital because in many ways my partners and I are trying to do something innovative and different, more akin to the 19th-century merchant bank, but in east Africa. Surya is a deal-by-deal principal investment firm, backed by a group of family offices and institutions. It is focused on high-growth markets in east Africa, including Ethiopia.

December 10, 2014

The third-gen vice president of Korean Air has resigned after she delayed one of its flights because an air steward served her macadamia nuts in a bag, rather than on a plate.

The third-gen vice president of Korean Air has resigned after she delayed one of its flights because an air steward served her macadamia nuts in a bag, rather than on a plate.

Heather Cho, 40, is the eldest daughter of Cho Yang Ho, who is chairman of the airline, and its parent company Hanjin Group.

In a flight from New York on 5 December, Cho berated a junior steward for the way he had presented the nuts, and insisted the plane taxi back the terminal so he could be removed from the flight.

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