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Succession

August 12, 2019

Third-generation steelmakers Radha Smelters have had their fair share of ups and downs, which is why educating the next generation, mixed with on-the-job experience, is so highly prized. Nicholas Moody reports

June 24, 2019

Most families fight a losing battle to sustain wealth past their third generation. Alison Ebbage asks four experts what families can do to avoid becoming another statistic

The Gilded Age was a defining period of massive economic growth in the United States during the late 19th century. It fuelled a period of extraordinary wealth generation for some of the young nation’s wealthiest families, a period that was tinged with the darker shadow of inequality.

June 3, 2019

As operating environments become increasingly competitive and complex, the family office of the future will need to become savvier about their investment strategies while tackling challenges such as cybersecurity and succession, experts say. The ones that do not risk sleepwalking into disaster.

Early in 2019, a 20-year-old German man admitted to police that he was behind one of the country’s biggest data breaches where hundreds of documents containing private information of a thousand public figures were leaked online.

May 27, 2019

Family offices are standing on the precipice of a multi-trillion dollar transfer of wealth between generations, yet succession planning among family offices is moving at a glacial pace. What are the barriers to planning? And what should families be doing now?

The cautionary tale of India’s Ambani family should be enough to scare any patriarch or matriarch into succession action. The sudden death of Reliance founder Dhirubhai Ambani, aged 69, in 2002 sparked an acrimonious battle between his two billionaire sons, Mukesh and Anil, leading to the brothers splitting up the family business in a deal mediated by their mother. Today relations are civil, but the businesses they inherited have had very different outcomes.

January 2, 2019

The Gulf has seen transition planning become a key area of focus in recent years. Across the region, transition-friendly systems and laws are being explored

The Gulf has seen transition planning become a key area of focus in recent years. Across the region, transition-friendly systems and laws are being explored, with fresh initiatives and platforms aimed at providing support to business and high net worth families.

Both the Dubai International Financial Centre and Abu Dhabi Global Market have family office and holding company regimes. The Abu Dhabi Chamber of Commerce and Industry is exploring the setup of a dedicated Family Business Leadership Centre.

November 5, 2018

Boomers are retiring in droves. Generation X is not far behind. Millennials are taking charge of family fortunes. Now what?

Boomers are retiring in droves. Generation X is not far behind. Millennials are taking charge of family fortunes. Now what?

Over the next 40 years, $30 trillion in financial and non-financial assets will pass from Baby Boomers to their heirs in North America, according to management consultants Accenture.

With so much capital in play private banks are keen to keep the millennial children of wealthy families sweet.

August 13, 2018

Asiaciti Trust is an independent trustee and fiduciary services business group offering specialist services internationally to both private clients and business corporations. Having established its corporate identity in 1978, Asiaciti Trust has its foundations in chartered accountancy practices which date back to 1886.

Asiaciti Trust is an international trust and corporate services provider. For 40 years we have delivered specialist fiduciary and administrative services to individuals, intermediaries and corporations.

Asiaciti Trust has operations in Singapore, Hong Kong, the Cook Islands, Dubai, Nevis, New Zealand, Panama and Samoa. We are Asia Pacific focused with global reach, able to offer structures and solutions in almost any jurisdiction via our extensive internationalnetwork.

May 31, 2018

French industrialist Serge Dassault dies, JAB Holding adds Pret to portfolio, and Jack Daniels maker Brown-Forman appoints second successive non-family CEO

French icon Serge Dassault dies aged 93

The controversial French industrialist and politician Serge Dassault, chairman of the eponymous aviation and software giant Dassault Group, has died aged 93.

The nonagenarian, who took over the business after his father’s death in 1986, is understood to have died at the headquarters of Dassault Aviation, according to French media reports.

May 23, 2018

LG Group chairman dies, prominent Swedish families back ‘creative Davos’, LVMH-backed funds buys into Indian retailer

Transformational LG Group chairman Koo Bon-moo dies 

The influential chairman of South Korea’s LG Group, who helped transform the company into a technology heavyweight, has passed away after a battle with brain disease.

Third-generation leader Koo Bon-moo, 73, had been ill for a year, LG said in a statement, and had refused life support.

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