More resilient first-generation wealth holders in China, lagging behind global peers in formalising their inheritance plans, are opening family offices to train and support their solitary “ill-equipped” next generation successors in wealth preservation, investments and philanthropy.
NEWS & ANALYSIS
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Ultra-high net worth individuals (UHNWIs) inevitably have cross border aspects to their affairs. They own assets in and/or have connections to multiple jurisdictions around the world and as such, in advising them, an awareness of international succession law is vital.
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Wealthy families, foundations and individuals with an estimated total net worth of $328 billion are accelerating their interests in sustainable and impact investing to an unprecedented level, propelled by the Covid-19 pandemic and climate crisis.
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The chairman of Supernova Invest, the pioneer and leader of deep tech investment in France, will discuss how investors, families and companies can achieve their goals at the in-person MedTech Investing Europe Forum.
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Picture yourself as a successor, recently arrived in a foreign market with no clear job description, no clarity on why you are there and a suspicious local management team. Your brief is to 'Find your own way and make a difference' in a company with €1 billion plus sales and a track record of minimum active family involvement.
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Features
Marc Puig Guasch, third-generation principal of the global $1.8 billion Spanish family-owned fashion and fragrance business Puig, hails his father as a “titan with a human touch” who led by listening and brought out the best in people.
Business families have demonstrated their resilience during the Covid-19 pandemic, but some principals are concerned the storm clouds of inflation are gathering over their roads to recovery.
Family Office
Chairman Kjeld Kirk Kristiansen secures Lego’s legacy with son’s succession, JCB heir Jo Bamford ventures into green hydrogen projects, JD.com founder Richard Liu makes way for successor.
Whatever your preferred word of choice is for describing a process that’s far from straightforward, environmental, social and governance (ESG) investing fits the bill. We don’t say this lightly, either, given that the bar for complexity around most investment matters is typically quite high. But when it comes to incorporating ESG factors into an investment process, the complexities involved can rise to a new level.
Most Read
- Chinese wealthy turn to family offices for next generation succession planning
- The latest estate and succession planning trends in Europe
- Amundi explores investments, the medical sector and exit strategies at MedTech Investing Europe Forum
- Priyanka Gupta Zielinski on next generation succession and women in family business
- Families ramp up sustainable and impact investments in response to Covid-19 and climate change
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