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Enhancing human capital in business families: Creating a culture where everyone has a voice

March 3, 2023

Some younger family members aren’t waiting for formal transitions. They’re focused on contributing today to a world that will still be sustainable in 100 years' time, says KPMG's Creagh Sudding.

There are widespread and ongoing discussions among family businesses about thepotential roles and contributions of next-generation family members. In some cases, this is the result of impending succession decisions and the need for a smooth transition from one generation to the next. But, in other cases, younger family members aren’t waiting for formal transitions. They’re focused on contributing today to aworld that will still be sustainable in 100 years' time.

Victoria Engelhorn: Becoming more than her family name

February 16, 2023

A beneficiary of the sale of her family’s multi-generational pharmaceutical companies, Victoria Engelhorn was determined to take the opportunity to grow, realise her own dreams and give back to society. In an exclusive interview with Campden FB, she reveals how forging her own socially responsible path gave her meaning and purpose.

The granddaughter of billionaire German businessman Curt Engelhorn, great-great granddaughter of Friedrich Engelhorn (the founder of chemical giant BASF) and the beneficiary of a family-wide windfall, Victoria Engelhorn understands all too well the heft and privilege of inheriting great wealth.

Redefining wealth as succession comes to the fore in family businesses

February 10, 2023

With the next generation of family members increasingly beginning to come into the workplace, family businesses are recognising the changes and challenges that succession may bring. New values and a strong focus on sustainability have implications for asset allocation, diversification and definitions of success, says KPMG's Tom McGinness.

As the new generation begins to come through, many current family business leaders are recognising that not all of their next-generation family members will work in the business. As a result, there are increasing concerns about the succession of the business amongst business families – and what ramifications this has for how wealth is defined and sustained.

One response may be to look at selling the family business to other families or to larger organisations.

How freedom from wealth as you age can open a new world of possibilities

February 4, 2023

In his new book, The Chase Continues, Charles Lowenhaupt presents a practical guide to ageing written for both wealth holders and their adult children who care for them. In an exclusive interview, Lowenhaupt discusses the benefits of talking about getting older and living out your dreams.

In his new book, The Chase Continues, Charles Lowenhaupt presents a practical guide to ageing written for both wealth holders and their adult children who care for them.

Leveraging human and social capital in family businesses

January 30, 2023

Family businesses often possess a wealth of human and social capital that can be harnessed in many different ways. In particular, it is key to find the right path forward for the skills, interests and abilities of next-generation family members so that they can contribute and generate value, says KPMG's Tom McGinness.

As family businesses look at new ways of maintaining and building their capital, the notion of human capital is very much on the rise. Human capital encompasses the knowledge, skills, experience and social qualities of family members and employees, and their ability to generate value.

Family capital diversification: Protecting the family’s financial assets

January 30, 2023

In today’s challenging economic environment, family businesses are looking for ways to de-risk and diversify their capital strategies, as well as take account of the aspirations of the next generation of family members, says KPMG's Tom McGinness.

Family businesses are well known for their ‘Patient capital’ strategies with a focus on longer-term value creation, rather than the continuous hunt for short-term results. This long-term approach was especially relevant during the Covid-19 pandemic – and remains just as relevant after it, too.

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.

European Family Office Report: Uncertain times lead to certain measures with an increased focus on private equity

January 16, 2023

Campden Wealth reveals European family offices are proactively adopting inflation-mitigating investment strategies as economic uncertainty looks to continue for the foreseeable future.

After a tumultuous few years and with even more uncertainty set for the foreseeable future, Europe-based family offices are proactively adopting inflation-mitigating investment strategies, according to Campden Wealth’s new European Family Office Report 2022.

The great wealth transition: Are next gens ready to take over the family office?

January 16, 2023

Ultra-high-net-worth families are in the midst of a major handover of power. Generations are preparing to either step aside or step up and, as a result, 67% of European family offices have a succession plan in place. However, according to Campden Wealth’s European Family Office Report 2022, around half of these plans are informal. As 36% of European family offices expect their Next Gens to assume control over the coming decade, is now the time to discuss the difficult subject of succession openly?

Ultra-high-net-worth families are in the midst of a major wealth and succession transition. Generations are preparing to either step aside or step up and, as a result, 67% of European family offices have a succession plan in place. However, according to Campden Wealth’s European Family Office Report 2022, around half of these plans are relatively casual, being only informally agreed (19%), unwritten (21%) or still in the process of development (14%).

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.