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succession planning

Up close and personal: Perspectives on Asian family offices

July 4, 2017

The world’s financial centre of gravity is shifting to Asia and Asian family businesses are a major factor. But the family office concept is in its infancy compared to Europe and North America and western wealth managers struggle to forge enduring business relationships. Azlinda Ariffin-Boromand, partner at WithersWorldwide, says it all starts with chopsticks.

Successors of family-owned businesses expect disruption but lack skills

June 7, 2017

Disruptions in the market, competition and even family relationships concern the next generation of leaders of family-owned businesses interviewed by Deloitte.

Disruptions in the market, competition and even family relationships concern the next generation of leaders of family-owned businesses interviewed by Deloitte.

Fortunes favour family businesses in Rich List of billionaires

May 11, 2017

Ultra-wealthy family businesses dominate the new Sunday Times Rich List, with the combined wealth of family firms in the top ten totalling £58.7 billion ($75.9 billion).

Ultra-wealthy family businesses dominate the new Sunday Times Rich List, with the combined wealth of family firms in the top ten totalling £58.7 billion ($75.9 billion).

Estate of play: Do trusts have a role in international estate planning?

March 14, 2017

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

Business property relief a benefit in family succession says Wilsons

February 20, 2017

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

Wilsons, based in London and Salisbury, warned the number of UK estates liable for Inheritance Tax was forecast to rise by 15% to 30,000 in the tax year ending 5 April, 2017, up from 26,000 estates in 2015/16.

Entrepreneurial co-investing family offices to take control of family firms in 2017

January 11, 2017

The long-term trend of divesting control of family businesses into family offices is expected by KPMG to rise in 2017 as investments diversify and succession looms.

The long-term trend of divesting control of family businesses into family offices is expected by KPMG to rise in 2017 as investments diversify and succession looms.

The increasing intricacy of the family’s investments and activities and succession planning were believed to be behind the trend.

KPMG also predicted the need for a “renewed focus” on how to reward professionals within family offices, in light of the increasingly evident war for talent.

Asian calls increase for family offices, philanthropy and succession plans

November 3, 2016

An independent wealth advisory based in London and Hong Kong is seeing a sharp increase in demand for strategic management of family assets and both philanthropy and succession planning from Asia.

An independent wealth advisory based in London and Hong Kong is seeing a sharp increase in demand for strategic management of family assets and both philanthropy and succession planning from Asia.

After Armani: Why family foundations are in fashion

August 19, 2016

Giorgio Armani would do well to consider motivation, guidelines and accountability when setting up a foundation to control his €2.64 billion ($2.9 billion) empire.

Giorgio Armani would do well to consider motivation, guidelines and accountability when setting up a foundation to control his €2.64 billion ($2.9 billion) empire.

This is the advice from the UK family office team of professional services network KPMG when CampdenFB asked what succession plans they would recommend to the Italian fashion designer.

Tension over succession brews at third-gen media empire Viacom

February 5, 2016

National Amusements third-gen Shari Redstone was the only vote from the board of directors at Viacom, her family’s media empire, opposing the appointment of Philippe Dauman as chairman on Thursday.

National Amusements third-gen Shari Redstone was the only vote from the board of directors at Viacom, her family’s media empire, opposing the appointment of Philippe Dauman as chairman on Thursday.

Her father, Sumner Redstone, 92, announced his retirement on Thursday. He had announced his retirement as chairman of the family’s other media empire CBS on Wednesday, where he will be replaced by its existing CEO and president Leslie Moonves.

Sumner Redstone’s expected resignation from family empire could create leadership battle

February 4, 2016

Sumner Redstone’s expected resignation from family media empire Viacom today could unleash a succession battle between its non-family chief executive and his daughter, Shari, who has released a pointed statement about leadership at the company.

Nonagenarian Redstone, 92, announced his retirement as chairman of the family’s other media empire CBS yesterday, where he will be replaced by its existing CEO and president Leslie Moonves.