Insights
- The Family Office - An Icon Of Family Longevity
- Tradition & Adaption in Chinese Family Enterprises: Facing the challenge of continuity
- Generational transitions still looms as Asia's key issue
- How to lead your family business out of the crises
- The Asian Way - Family Business Succession Planning: East versus West
- Values In Family-Owned Business
- Next gen stewards or inheritors?
- A Family Council for the Confucian Family
- What The Client Should Ask About PTCs
- Family Philanthropy – Beyond Giving
The Family Office - An Icon Of Family Longevity
by June Lee, Head of Family Governance, UBS Wealth Management
(article was first published in the Singapore Business Times on 20 January 2010)
Excerpt
''The financial turbulence of the last 24 months has laid bare the exposures wealthy families face
with respect to the management of their wealth. In many cases, family leaders have had to divide
their attention between attending to the urgent needs of the family business and repositioning
their financial portfolios, in order to preserve the family's wealth.''
Tradition & Adaption in Chinese Family Enterprises: Facing the challenge of continuity
by Ivan Lansbery, PhD and Kelin Gersick PhD, Lansberg, Gersick and Associates LLC
Excerpt
''Facing the Challenge of Continuity was researched and written at the request of HSBC Private Bank in
Asia, after working closely with Dr Ivan Lansberg and Dr Kelin Gersick for the last six years. Both authors
have consulted with a wide range of family enterprises, from the very simple to the very complex, from around
the world, and have made significant contributions to the understanding of family business governance, continuity
and succession planning.''
Generational transitions still looms as Asia's key issue
by Yuelin Yang, IMC Corp Group
Reproduced with permission of Campden
Excerpt
"In this time of economic turmoil, some people are questioning the Anglo-Saxon model of capitalism, which emphasises shareholder value.
In searching for an alternative model, others have extolled the virtues of family capitalism. At the same time, the economic climate
has imposed a stress test on some families and their businesses, which has fractured family unity."
How to lead your family business out of the crises
by Professor Randel Carlock, INSEAD’s Berghmans Lhoist chaired professor in Entrepreneurial Leadership and director,
Wendel International Centre for Family Enterprise
Reproduced with permission of Campden
Excerpt
"Family-owned companies have suffered along with everyone else, but they have an inherent competitive advantage
that can be leveraged to ensure they survive and prosper despite the poor business and financial climate. This advantage encompasses the
well-documented benefits of committed owners, a long-term strategy, industry knowledge accumulated over generations and values such as
trust, stewardship and longevity. However, such characteristics on their own do not ensure survival or success."
The Asian Way - Family Business Succession Planning: East versus West
by Christian Stewart, Family Legacy Asia
Excerpt
"In the US, if you were a wealthy individual, you would not walk across the road without taking your lawyer and your
tax advisor and your accountant and your therapist with you! You might also have an insurance advisor and a "family business"
advisor - or a "family wealth" advisor.
The Chinese business family may not have any of these professional specialists. The wealthy Asian businessman will walk
across the road on his own - or if he takes any one with him it is likely to be some family members or a trusted lieutenant."
Values In Family-Owned Business
by Prof Bernardo M. Villegas. Ph.D., Harvard University
Excerpt
"...family-owned businesses are generally characterized by a sound value system, whether implicit or explicit, which impacts all of
its activities, its strategy and way of doing things. During these days when there is a great deal of lamentation about the lack of
values in the corporate world, family-owned businesses are shaping up to be the role models to watch."
Next gen stewards or inheritors?
by Christian Stewart, Family Legacy Asia (HK) Limited
Excerpt
The differences between the belief systems and practices of Stewards and Inheritors within single Asian families and the confusion
they create of the sons. However, it is more common these days to see all of the children of the founder becoming equal shareholders
when the founder passes, if not before then.3 In the stereotypical CFB, the founder is also
the father and the head of the family.
A Family Council for the Confucian Family
by Christian Stewart, Family Legacy Asia (HK) Limited
Excerpt
Can A Confucian Family Learn to Make Joint Decisions Together?
Thinking about setting up a family council and creating your own family constitution? If so, two essential books that you have
to get your hands on are Family Wealth; Keeping it in the Family by James E. Hughes Jr. (Bloomberg Press) and International
Family Governance by Barbara R Hauser (Mesatop Press).
What The Client Should Ask About PTCs
by Christian Stewart, Family Legacy Asia (HK) Limited
Excerpt
The purpose of this note is to have a close look at the role of the Bank Trustee1 when it acts as an Administrator providing
administrative support services to a Private Trust Company ( " PTC " )? structure. This note should be helpful for
families that are considering forming a PTC structure. It should also be helpful for families that are conducting a review of their
existing PTC arrangements. 1 I have chosen to focus on the Bank Trustee as administrator as it is largely the Bank Trustees
that are the chief promoters of PTC structures in Asia.
Family Philanthropy – Beyond Giving
by June Lee, Head of Family Governance, UBS Wealth Management
(article was first published in the Business Times, Executive Money, on 18 August 2010)
Excerpt
A family's philanthropic activities can become the life-force that invigorates the family identity, and
ultimately the keystone for the survival of the family dynasty.