Share |

private banking

Multigenerational philanthropy: Aligning family values for impact

November 9, 2022

Philanthropy is embedded in the fabric of wealth management. Whether it’s the Silent Generation or Generation Z, each generation wants to make an impact through charitable giving, says BNY Mellon Wealth Management.

Philanthropy is top of mind for most affluent families. However, according to BNY Mellon Wealth Management’s Global Family Office Study, only 30% of family offices have documented strategies to deploy wealth in a truly meaningful way [1]. This disconnect is just one of several challenges that families face regarding philanthropic planning.

The advantages of master global custody for today’s family office

October 12, 2022

Despite the many differences among family offices, they all need flexible, cost-effective management of their financial assets. Choosing the right custody model is key to meeting this need, says BNY Mellon Wealth Management.

Despite the many differences among family offices, they all need flexible, cost-effective management of their financial assets. Choosing the right custody model is key to meeting this need.

Shifting horizons: How family offices are responding to rapid economic and social change

May 4, 2022

Over the past few years, the world has experienced a global public health crisis, social tensions, technological disruptions and economic turbulence unseen in decades. As a trusted partner and advisor to family offices, BNY Mellon Global Family Office partnered with The Harris Poll to find out how this select group was adapting to these massive and rapid interruptions across the globe.

Managing wealth as a business: A family office—to be or not to be?

May 7, 2021

Does it make sense to professionalise the management of my wealth (or that of my family), treating it in a manner comparable to how I treat my company or other businesses? In other words, should we create a family office?

What wealthy women want from advisers—new research

October 5, 2017

Anat Bar-Gera’s parents did not have a penny when they relocated to Israel following the Second World War. Her father, who had been unable to finish high school, worked hard, opened his own business, and eventually earned a university degree.

Decades later, his daughter is one of Switzerland’s most successful telecommunications and internet entrepreneurs. Bar-Gera, pictured below right, attributes her ambition and work ethic to her parents.

Asian family offices versus next-gens' globalised attitudes

September 5, 2016

Family offices in Asia are still relatively new. Most of the wealth is still in the first, or possibly the second generation. The establishment of what might be described as western family office models is still nascent.

The preferred formula still remains that of a very trusted family retainer, a chief financial officer who has run an operating business, or a lawyer, who structures and advises the wealth that the principals. The old (or very older) generation still retain a great deal of control and make the strategic and investment decisions.

Digital era could be driving wealthy millennials' interest in impact investing and philanthropy

December 15, 2015

Widespread access to digital information and social media could be driving ultra-high net worth millennials to engage more on philanthropy and impact investing, says the author of a new report that is focussed on the next generation’s attitudes to wealth.

Personal and financial details leaked in HSBC Swiss private bank revelations

February 9, 2015

A data leak revealing details of some of HSBC’s wealthiest clients has made headlines around the world today, detailing how the private bank assisted clients with tax evasion and denied governments in their home countries billions of dollars of revenue.

A data leak revealing details of some of HSBC’s wealthiest clients has made headlines around the world over the weekend, detailing how the private bank assisted clients with tax evasion and denied governments in their home countries billions of dollars of revenue.

“Old-wealth families” are among the private banking clients HSBC helped evade tax, according to the International Consortium of Investigative Journalists (ICIJ), as well as celebrities, politicians and people associated with arms trafficking, blood diamonds and bribery.

“Hermes valued more than SocGen” – it’s about time

September 2, 2011

Family-controlled Hermes, the maker of the iconic Birkin bag, silk-print scarf and discreetly branded necktie, is a more valuable asset than the bank Societe Generale.

So it was pointed out in early September when the famous luxury brand, in terms of its market capitalisation on the French stock exchange, was worth more than country’s second-biggest bank.

An analyst quoted in a Bloomberg story about the two firms’ valuations summed up the differences well.

Ultra-high net worth remain distant from banks – report

July 13, 2011

Private banks around the world are struggling to attract the money of the wealthy despite the fact that many of them are getting wealthier. According to new research by global business consultant Scorpio Partnership, new money into private banks fell by nearly 19% in 2010, despite a rise in the number of wealthy individuals.

Private banks around the world are struggling to attract the money of the wealthy despite the fact that many of them are getting wealthier.

According to new research by global business consultant Scorpio Partnership, new money into private banks fell by nearly 19% in 2010, despite a rise in the number of wealthy individuals.