Family Business

Top 13 Wholly-Owned US Family Businesses Concentrated in Select Sectors
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By | May 20th, 2016|Family Business|

Campden research studied the wholly-owned US family businesses and found that the top 13 among them were dominant in a select few sectors. If they were a nation, their GDP (i.e. total revenues of $232 bn) would be 45th largest on the globe. The sectors [...]

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Debiopharm Group Donates to IMD To Promote Best Practice In Family Business Philanthropy
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By | May 20th, 2016|Family Business|

The Swiss biopharmaceutical company Debiopharm Group has pledged to setup a Chair in Family Philanthropy at IMD business school, Lausanne. The Chair's objective is to promote family philanthropy and developing best practices by offering decision-making techniques and performance assessment mechanisms to improve the social and [...]

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Carlos Slim’s Grandchildren Join Family Business Boards
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By | May 20th, 2016|Family Business|

Continuing the family legacy, Carlos Slim, head of one of the world's largest family business empires has brought two of his grandchildren on the boards of group companies. Daniel and Rodrigo, both in their early 20s, are sons of Slim's eldest daughter Vanessa. Daniel has [...]

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Secretive Reimann Family’s Growing Coffee Investments
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By | May 13th, 2016|Family Business|

Adam Benckiser had started a namesake chemical company in 1823. He was succeeded by his son-in-law Ludwig Reimann. Albert Reimann Jr., the great grandson of Ludwig took the reins of the company after his father died in 1952. Upon Albert's death in 1984, Wolfgang Reimann [...]

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Succession Plan Unveiled at Bouygues
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By | May 6th, 2016|Family Business|

Bouygues S.A., an industrial group headquartered in Paris, was founded in 1952 by Francis Bouygues and since 1989 has been led by his son Martin Bouygues. In 2015 it had over approximately 120,000 employees in 100 countries, generating €32.428 billion in revenue. The group specializes [...]

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Family Business in Britain
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By | May 6th, 2016|Family Business|

The country’s medium-sized enterprises, often family owned, generate a quarter of private sector GDP, despite making up just 2% of British companies. British family businesses are more domestically focused than their global counterparts, with exports accounting for just 16% of their revenues, compared to 25% [...]

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Family Business Member As President Of Argentina
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By | April 29th, 2016|Family Business|

Recently Argentina appointed a new president, Mauricio Macri, who is a member of family-run conglomerate Grupo Macri. It has raised hope that the 57-year-old’s innate understanding of the issues faced by families will result in better conditions for businesses across the board. Among the top [...]

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New York Magazine Gets Family Member As CEO
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By | April 29th, 2016|Family Business|

Bruce Wasserstein, bought the New York magazine for $55 million in 2004, but died unexpectedly five years later, at age 61. Later the magazine was owned by a Wasserstein family trust and there were speculations that the family might sell the company. Recently, Pamela Wasserstein, [...]

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Chinese Family Feuding Over Japanese Reparations
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By | April 29th, 2016|Family Business|

Mitsui OSK was founded as a key part of the Mitsui zaibatsu (family-owned conglomerate) during the early industrialization of Japan. The company is now independent of the zaibatsu, but remains part of the Mitsui keiretsu (group of aligned companies). Chen Shuntong was a shipping magnate [...]

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Bombardier Negotiating To Sell Cseries Jets To Delta
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By | April 22nd, 2016|Family Business|

Bombardier Inc. is a Canadian multinational aerospace and transportation company, founded by Joseph-Armand Bombardier in 1942. Currently the Bombardier and Beaudoin family are the company's largest shareholders. Last year collectively the families spent some $50 million to increase their stake in the embattled transportation company [...]

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Sika Board Limits Burkard Family Vote
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By | April 22nd, 2016|Family Business|

Sika AG was founded in 1910 by Kaspar Winkler. It is a specialty chemical company headquartered in Baar, Switzerland. Today the company has more than 17,000 employees, subsidiaries in 93 countries, and an annual sales turnover of CHF 5.49 billion (2015). Saint-Gobain, the French industrials [...]

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Evolution and Not Revolution for Next Gen Family Leaders
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By | April 22nd, 2016|Family Business|

According to a recent study by PwC, titled ‘Great Expectations: The next generation of family business leaders’, in the next five years, 40% of family businesses globally will prepare to hand over the business to the next generation, but the new leaders may find it [...]

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Wealth Related Decision Making In Families
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By | April 15th, 2016|Family Business|

A survey was recently conducted by Morgan Stanley and Campden Wealth, among ultra-high net worth (UHNW) individuals in North America with a family net worth in excess of $35 million, to understand the attitudes and behaviors concerning investment decision-making. The majority of families in this [...]

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Tax Regimes Impacting Family Business Succession And Growth
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By | April 8th, 2016|Family Business|

The recently released report titled ‘KPMG Global Family Business Tax Monitor’ compares the impact of tax regimes on family businesses. It is based on the findings of 42 countries, including India that undertook a taxation review on two scenarios for a family business valued at [...]

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Unceremonious Exit For Founder Of Korean Chaebol
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By | April 8th, 2016|Family Business|

The Lotte group was established in 1948 by Shin Kyuk-Ho in Tokyo as a snack maker. He later expanded to South Korea in 1967, and went on to become the country’s fifth largest business conglomerate. Today it consists of over 80 business units employing 60,000 [...]

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Dodsal Group Planning To Raise $300 Million In Debt For E&P Activities In Tanzania
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By | March 31st, 2016|Family Business|

The Dodsal Group was founded in Mumbai, India, in 1948 by the Nandlal Kilachand family as a trading company in partnership with a British trading company (DODWEL) and Mr. Karsa Salem. The Dubai-based Group is currently led by Chairman Dr. Rajen A. Kilachand. Recently the [...]

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Succession Planning, Better Late Than Never
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By | March 31st, 2016|Family Business|

Walkers Shortbread is a 118 year old Scottish manufacturer of shortbread, biscuits, cookies and crackers. The company is Scotland's biggest exporter of food. Joseph Walker founded the Aberlour, Banffshire-based business in 1898. His grandchildren Jim Walker, 71, and his brother Joe, 78 are currently managing [...]

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Mittelstand Companies Affected By Chinese Slowdown
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By | March 31st, 2016|Family Business|

Mittelstand commonly refers to family-owned small and medium-sized enterprises in German-speaking countries, especially in Germany, Austria and Switzerland. The importance of this group of companies can be gauged from the fact that the Mittelstands account for almost 55 per cent of Germany’s economic output. In [...]

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Chinese Family Offices Replacing Wealth Funds
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By | March 31st, 2016|Family Business|

Although family offices have existed among the overseas Chinese community, it has risen to prominence among the first generation high net worth (HNW) individuals in the last decade. As per the RBC World Wealth Report 2015, China’s population of HNW individuals grew 18% in 2015, [...]

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The Survival Of Tradition In Family Business
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By | March 23rd, 2016|Family Business|

Edmond de Rothschild is a private bank headquartered in Geneva, Switzerland. It is exclusively dedicated to wealth management for private and institutional clients. Originally founded in 1923, it was acquired by Edmond Adolphe de Rothschild in the mid-1960s. After his death in 1997, his son [...]

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The World’s Four Biggest Clothes Retailers
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By | March 23rd, 2016|Family Business|

The world's four biggest fashion businesses today – GAP, Zara, H&M and Uniqlo’s are all family-owned. All the four firms were able to take advantage of cheap manufacturing in the 90s, in China and other Asian countries. Perhaps that huge entrepreneurial success allowed the family [...]

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Korea’s Chaebol enters Fourth Generation for first time
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By | March 23rd, 2016|Family Business|

Doosan Group is the oldest and 11th largest family controlled conglomerate in Korea. It took its first steps in 1896 when founder Park Seung-Jik opened a small linen store in Seoul. The 120-year-old chaebol has since been led by each of the founder’s sons. Park [...]

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From Embedded Family Office To Single Family Office
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By | March 23rd, 2016|Family Business|

Koch Industries, Inc. is an American multinational corporation based in Wichita, Kansas, with subsidiaries involved in manufacturing, trading, and investments. It was founded as Wood River Oil and Refining Company in 1940 by Fred C. Koch. Koch companies are involved in industries such as the [...]

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Fifth Generation Succession At Smucker’s
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By | March 11th, 2016|Family Business|

Headquartered in Orrville, Ohio, the J. M. Smucker Company is a manufacturer of fruit spreads, ice cream toppings, beverages, shortening, natural peanut butter, and other products. The company was founded in 1897 by Jerome Monroe Smucker. The company is America's eighth largest shelf-stable food and [...]

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Asset Shift From Asia To Western Markets
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By | March 11th, 2016|Family Business|

Business tycoons in Hong Kong and Singapore are looking to diversify away from the stuttering Chinese economy, for the continued wealth and wellbeing of their family businesses. Among others Li Ka-shing, of the Sun Hung Kai Properties Empire, owned by the Kwok clan, has continued [...]

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Broadening Tax Net Across The Globe
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By | March 3rd, 2016|Family Business|

The implementation of the ‘global standard for automatic exchange of financial account information’, a government-to-government automatic exchange of financial account information, is intended to curb offshore tax evasion. Developed by the OECD in close consultation with EU and G20 nations, this pact has already been [...]

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From A Successful Entrepreneur To A Family Business
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By | March 3rd, 2016|Family Business|

As per a recent article in the Harvard Business Review, the transition from a successful entrepreneur to a family business brings about an existential crisis for which many are not prepared. However the transition becomes imperative as due to the sheer size of the new [...]

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Crowdfunding As A Source Of Capital For Family Business
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By | February 26th, 2016|Family Business|

Since the financial crisis, family businesses remain wary of taking on too much debt. Simultaneously the credit crunch in the last decade has pushed family businesses towards non-banking channels to raise capital. A 2014 KPMG International survey showed that 58% of family businesses are currently [...]

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The Use Of Mini-Bonds To Raise Capital For Family Businesses
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By | February 26th, 2016|Family Business|

Family businesses often face a dearth of long term capital from established financial institutions. In an effort to meet the growing need for capital many innovative financial products are being developed around the world by family businesses. Mini-bonds or crowdlending is one such product, fast [...]

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From Family To Professional Management And Back
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By | February 19th, 2016|Family Business|

Luxottica Group, with annual revenues of $8.2 billion and more than 7,000 retail outlets, is the world's largest eyewear company. It is a vertically integrated designer, manufacturer, distributor and retailer of eyewear. Its best known brands are Ray-Ban, Persol, and Oakley. Luxottica also makes sunglasses [...]

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A Tale Of One Company And Three Business Families
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By | February 19th, 2016|Family Business|

Big C, or Big C Supercenter, is a grocery and general merchandising retailer headquartered in Bangkok, Thailand. With 697 stores, a market capitalization of $4.60 billion, it is Thailand's second-largest hypermarket operator after Tesco. It has operations in three countries - Thailand, Vietnam and Laos. [...]

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Problem Of Succession Planning In The Gulf
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By | February 12th, 2016|Family Business|

As per recent estimates, around 80% of the companies in the gulf region, producing more than 90% of its non-oil wealth, are family-owned or controlled. These family firms are mostly fairly recent creations—the products of the oil and property booms of the 1970s and 1980s. [...]

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Succession Troubles At Third Generation Family Firm Viacom
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By | February 12th, 2016|Family Business|

National Amusements was founded by Michael Redstone in 1936. He was succeeded by Sumner Redstone, 92, who recently announced his retirement as chairman of the family’s media empires. Third generation, Shari Redstone is currently president of National Amusements, and also runs Advancit Capital, which invests [...]

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Lack Of Succession Plans In US Family Businesses
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By | February 12th, 2016|Family Business|

As per the recently released Northwest Family Business Survey 2015, about one-third of family businesses in the North West US, anticipate a leadership change in the next five years. However, majority of those businesses have not yet identified the new leader (58%), but most (52%) [...]

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Foreign Firms Preferred Training Ground For Indian Business Family Scions
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By | February 5th, 2016|Family Business|

The trend of working outside the family business, especially outside the country, by Indian business family scions is gaining traction. As per Professor Kavil Ramachandran of ISB, “this global exposure prepares the new generation directly for senior roles in the family business. It enables them [...]

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New Survey Reports Lack Of Succession Planning In US Based Family Businesses
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By | February 5th, 2016|Family Business|

As per the recently released Kreischer Miller Family Business Survey 2016 titled ‘The Impending Perfect Storm Facing Family Businesses’ the global financial crisis has disturbed the retirement timelines in many US based family businesses. The survey was conducted among 100 privately held businesses in the [...]

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Venture Funds Plan To Bring Family Businesses To Startup Funding
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By | January 29th, 2016|Family Business|

Unicorn India Ventures is a venture capital firm founded by Anil Joshi and Bhaskar Majumdar. It has recently got a commitment from the India Aspiration Fund, a Rs 2,000-crore fund of funds, managed by the Small Industries Development Bank of India (SIDBI). Unicorn plans to [...]

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Family Businesses Remain Most Trusted Businesses
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By | January 29th, 2016|Family Business|

As per the recently published report titled ‘Edelman Trust Barometer 2016’, family-owned companies (66%) held their top spot as the most trusted businesses globally, trailed by public (52%) and state-owned (46%) businesses. Edelman, a communications company, surveyed more than 33,000 respondents in 28 countries for [...]

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Accounting Big Four Gear Up To Support Family Businesses
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By | January 29th, 2016|Family Business|

In the increasingly competitive arena of support services aimed at small and medium enterprises (SMEs), the Big Four accounting firms in Singapore are flexing their muscles, with dedicated teams and expanded services. A significant proportion of Singapore's total SME population are either entrepreneurs or family [...]

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Succession And Talent Management Biggest Challenges For Family Business In Singapore
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By | January 22nd, 2016|Family Business|

As per a recent survey conducted by PwC and the Singapore Chinese Chamber of Commerce and Industry, 65 per cent of family businesses in Singapore are of the opinion that attracting talent is the biggest challenge, followed by succession planning. These results are important considering [...]

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Succession Challenge In Family Business
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By | January 22nd, 2016|Family Business|

As per a recent survey conducted by EY titled, ‘Coming home or breaking free? A closer look at the succession intentions of next-generation family business members’, family businesses globally are facing a succession challenge as more and more young graduates turn to the outside world [...]

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Schindler Group Prepares For Non-Family Succession
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By | January 22nd, 2016|Family Business|

The Schindler Group is a manufacturer of escalators, elevators and moving walkways worldwide, founded in Switzerland in 1874, by Robert Schindler and Eduard Villiger. The company is present in more than 140 countries and employs more than 54,000 persons worldwide. In 2014, the company had [...]

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