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Prince Harry and Meghan Markle’s decision to step down as senior royals and split their time between the United Kingdom and Canada holds a number of implications for business dynasties, and for the role of the “spare” in the “heir and spare” scenario during succession, family experts say.
NEWS & ANALYSIS
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Next gen James Murdoch’s burning rift with father’s media empire, revamped Musgrave Group snaps up drinks distributor and the World Economic Forum hails Henkel as frontrunner in the fourth industrial revolution.
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Institut auf dem Rosenberg is one of the leading international boarding schools for boys and girls aged 6-19 years. Owned and run by the Gademann family, Bernhard Gademann, the fourth-generation headmaster, explains how their elite facility gives the young family business leaders of tomorrow the edge in a competitive world.
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For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).
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China’s billionaire business families are setting up their own family offices at a phenomenal rate as ageing principals shift their priorities from wealth creation to preservation and succession.
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Features
Effective communication between generations is essential for family business longevity and succession, and it’s never too late for families to start, says Ron LaVelle, a trusted adviser to ultra-wealthy families in the Bay area at Seiler LLP. LaVelle tells CampdenFB how families can get the basics right, from professionalising the family business and setting up the family office, to hiring and keeping the right people.
Verena Bahlsen, next generation entrepreneur and co-founder of food innovation incubator HERMANN’S, is looking to drive her family’s business into the future.
Family Office
Pentland consolidates global Speedo portfolio ahead of Olympics, Heinrich Deichmann on family-funded growth and philanthropy, and family succeeds Georges Duboeuf, France’s “pope of Beaujolais”.
The year of 2019 was one when many of the six impossible things before breakfast remain unresolved—with the shining exception of Brexit, and the wider resolution of domestic politics. We can still feel the political earthquake which struck the UK last month—we cannot yet see the effect of it. Most political earthquakes, when they happen, are scarcely discerned, and even those which are perceived for what they are, do not easily reveal the new pathways created from the changed landscape.
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- Capital Hub: Obligation to declare UBOs to Greek Ministry of Finance’s Central Register
- China’s billionaires enthusiastically adopt family offices to preserve wealth
- Institut auf dem Rosenberg makes next-gens top of the class
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