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An inconvenient side effect to living in today’s fully digitised world is that threats have also gone digital—become more difficult to discover, track and neutralise. All financial institutions are now faced with the colossal task of protecting against increased threats to their business, no matter how ‘under the radar’ their profiles have traditionally been—family offices included.
NEWS & ANALYSIS
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Walmart is disappointed with festive consumer spending and Asda but online sales up 35%, JCB cuts UK production as the coronavirus hits Chinese suppliers, and fifth-generation US newspaper dynasty McClatchy Co files for bankruptcy.
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A significant number of family businesses do not have a succession plan in place. Failure to address this is likely to be to the detriment of the business in the long-run. The family need to decide what the future of the business looks like, and crucially which family members, if any, wish to be involved.
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Search funds have gained prominence in the US and are gathering steam in other parts of the world. Why have they caught the attention of family businesses and family offices? Jeremy Hazlehurst reports
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Inditex pumps $9.2 million into social welfare; Benetton fires photographer over bridge remark; Frederick Koch, US philanthropist, dies aged 86.
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Features
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.
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.
Family Office
Family business involves the informal, the unsaid and the invisible as much as the formal, the said and the visible. It’s all about the past linked to the present and the future with each family member having a unique lens of interpretation that’s relevant and true for them from their perspective.
Ronald Reagan ran in 1984 with a famous TV commercial which started with the line ‘It’s morning in America’. This was to signify that the best was yet to come. We think there is a chance, just a chance, that the UK could also be at the start of an exciting period.
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