It is often assumed that the acclaimed American family, the Rockefellers, pioneered the family office in the late 19th century.
The reality is that Family Office has existed from the dawn of civilisations except that the term “family office” was only coined in 1900 as Banks used the term mainly to segment Assets Under Management size.
Family Offices are becoming a very significant force within the global business landscape, now managing almost half of the $9 trillion controlled by the world’s billionaires.
EY estimates that there are currently 10,000 family offices, a ten-fold increase since 2008. It is expected that this trend will continue in line with the growing number of billionaires and the increasing need for specialized expertise to manage and advise family enterprises on new investment options, succession, and multi-generational wealth preservation within a volatile global economy.
Family offices can also enjoy a greater level of autonomy and independence...
We all agree that Governments need to have good laws, institutions, and processes in place to ensure accountability, stability, equality, and access to justice for all. This ultimately leads to respect for human rights and the environment. It also helps lower levels of corruption and instances of violent conflict. This concept is called the "rule of law." There are great benefits to business, and other stakeholders, in respecting and supporting the rule of law. Where the rule of law is weak, it is harder for responsible businesses to function, and to meet their legal obligations and have their legal rights protected. Ms. Christina Koulias, Senior Manager, Anti-Corruption and Global Governance
Nowhere is implementing the rule so difficult as in Financial Services. One of the reasons is information asymmetry. Unlike many other industries, it is one where providers package products that they understand better than supervisors and consumers. Hence supervisors always play catch....
Stay tuned for more information about the new course : (Mapping) Your Journey to Financial Security.
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