Share |

Private Staff

The generational handover in family business: Is it better to appoint internally or externally?

March 7, 2023

Sooner or later, all privately-owned companies have to tackle the quandary of the generational handover, but is it better to keep it in the family or bring in fresh blood, asks Jesús Rico, professor of strategy at EAE Business School?

Sooner or later, all large family companies have to tackle the quandary of the generational handover. Should they appoint a member of the family who knows the company and has its mission imprinted on their DNA? Or is it better to bring on board a director from outside the company who shakes things up with a new vision?

How the Arnault family is leading the way in planning for succession

January 26, 2023

While the succession plans of many ultra-high-net-worth families are, according to Campden Wealth’s European Family Office Report 2022, only informally agreed, unwritten or still in the process of development, the family-owned company running luxury goods giant LVMH is running on clear and transparent lines of communication, says Stuart Hatcher.

While the succession plans of many ultra-high-net-worth families are, according to Campden Wealth’s European Family Office Report 2022, only informally agreed (19%), unwritten (21%) or still in the process of development (14%), the family running owned company which operates luxury goods giant LVMH is running on clear and transparent lines of communication.

The importance of written succession plans and preparing the next generation

January 19, 2023

As ultra-high-net-worth families navigate a major global wealth and succession transition, questions are being asked about implementation of plans and Next Gen readiness. In an exclusive interview with Campden FB, KPMG’s private client lawyer Harriet Kwarteng discusses how best to navigate the tricky subject of succession.

As ultra-high-net-worth families navigate a major global wealth and succession transition, questions are being asked about implementation of plans and Next Gen readiness. Especially as, according to Campden Wealth’s 2022 European Family Office Report, significant numbers of European family offices believe that the next generation is too young (36%) or inadequately qualified to take over (34%).

Family Business leadership: lessons learned

January 9, 2023

Mark Essex, course director of KPMG in the UK’s Family Business Leadership Academy, talks about his key learnings from the past 12 months.

Suffering from a talent shortage? Move to skills-led organisation design

January 3, 2023

Employers can’t survive by constantly trying to push square peg employees into round hole positions. Instead, they need to look at what’s available to them in the talent market and conjure up a solution that meets their needs… Make your holes squarer, says Mark Essex, course director of the Family Business Leadership Academy, KPMG in the UK.

“Back in the day” is a phrase my kids use a lot. Of course, they don’t mean the 1980s or even the 20th Century. They mean 2019. “You know, when you used to go to work every day, Daddy”. Leaving aside that working from home is working, there is a truth in what they observe. Especially when it comes to recruitment.

Investing in people is like investing in anything, we all want the best ROI

December 1, 2022

Take a look at one of your most important asset classes, your talent, and start to think about how you can improve the investment, says Mark Essex.

In the struggle for talent, some of your competitors might prefer to poach your staff rather than coach their own. And if one of your best people is seduced by a golden hello from a rival, you’d be forgiven for looking again at how much you invest in your staff. Of course, it won’t be long before someone comes out with the cliché: “What if you train them and they leave? What if you don’t and they stay?”

Leadership through the lens: How to pass on experience and knowledge in a virtual working environment

October 28, 2022

Helping the next generation learn leadership skills is possible in a virtual world. But it’s harder and we need to work harder at it, says Mark Essex.

Leading teams in a virtual world is harder. It requires effort, concentration and planning. But, for business leaders passing on their experience gained over a lifetime, it’s an investment. And the return is higher for family businesses.

Don’t wait for hybrid working to settle down; it won’t

October 14, 2022

In a tight labour market where talent is scarce, family business should make a virtue of their optionality and flexibility on this issue to attract talent, says Mark Essex.

The invention of email is 51 years old and has been a staple tool of office workers for at least 25 years. However, in that time we still haven’t really adopted a set of ubiquitous norms; we still receive hundreds of messages a day and use basically the same workflow for “Fancy a brew” as “Please see attached a multi-million pound contract”.

Edward Allanby: The man in Bermuda

September 22, 2022

On the heels of Campden Wealth's Forum in Bermuda this past summer, Campden FB caught up with long-time member Edward Allanby. Having spent 20 years living in and welcoming family offices to Bermuda, Edward guides us through the many reasons why the North Atlantic island is the place to be...

There are myriad reasons to move to Bermuda - an archipelago of 181 islands totalling 21 square miles and surrounded by pink sand beaches and palm trees, the island is rich in culture, local and international cuisines and natural beauty, with a sub-tropical climate and temperatures that rarely drop below 55°F or exceed 90°F. The island offers one of the highest standards of living in the world, one of the highest per capita incomes in the world, a top-tier healthcare system and access to excellent schools.

The next generation of work

July 21, 2022

KPMG’s Tom McGinness asks are family businesses role models for the future of work?

At the height of the pandemic, talent risk jumped 20 places in the 2020 KPMG CEO Outlook Survey [1], to become one of the leading threats to long-term growth. It was the first time in the history of the survey that the “People agenda” was seen as an urgent C-suite priority.