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Quad Group’s Maureen Costello Wedge: A Succession Case Study

Quad Group’s Maureen Costello Wedge: A Succession Case Study

Maureen Costello Wedge’s professional journey over the past three decades has included every stage of the traditional business lifecycle. As a child, Wedge spent summers on a paper route delivering her family’s newspaper. Later she would join her three siblings in senior management roles at the Sun Media Group, leading an ambitious expansion and eventual sale of the company in 2017.

Can Artificial Intelligence Ease Transition of Wealth At Family Offices?

Can Artificial Intelligence Ease Transition of Wealth At Family Offices?

The recent surge in available data, coupled with cutting-edge advances in computing technology, have helped create artificial intelligence (AI) tools that can close critical gaps across a swathe of different industries. Some experts and family office investors are now asking if these revolutionary tools can help ease the transition of wealth between generations.

How to Effectively Manage a Business Transition: Q&A with BanyanGlobal’s Vladimir Barbieri

How to Effectively Manage a Business Transition: Q&A with BanyanGlobal’s Vladimir Barbieri

Baby Boomers own more than two-thirds of all businesses in the United States, according to data from the U.S. Census Bureau. The Family Firm Institute maintains that 80% of these businesses are family owned. This implies that trillions of dollars in business assets and capital are on the cusp of a generational transition.

Microsoft’s Satya Nadella: A Succession Case Study for Family Offices

Microsoft’s Satya Nadella: A Succession Case Study for Family Offices

Planning for succession is, perhaps, one of the most monumental challenges of any family office or business. Some of the most successful companies and business leaders have failed to transition leadership. Others, however, have succeeded with phenomenal results.

U.S. Family Businesses Face Looming Succession Crisis

U.S. Family Businesses Face Looming Succession Crisis

Despite a successful 16-year run as a medium-sized business, Montana-based Grandma Hoot Products was nearly liquidated in 2017. Owner Joyce Previte launched the condiment company in 2002, eventually bringing her husband Keith on board to manage sales and distribution. Now in the...

More Next-Gen Women Taking the Lead in Family Businesses

More Next-Gen Women Taking the Lead in Family Businesses

In 2013, attendees at the Reliance Industries annual general meeting in Mumbai were stunned when a 21-year-old woman took the stage alongside the company’s leadership team. Isha Ambani was joining her father Mukesh Ambani and taking a more active role in the family business, according to India’s Economic Times.

Beating the Third Generation Curse

Beating the Third Generation Curse

German immigrant Bernhard Stroh came to America in 1849 armed with little more than a recipe for making beer. The beer was so popular that he set up a brewery shortly before the First World War. By 1980 it had grown to become America’s third largest beer company. At its height in the 1980s, the Stroh family’s wealth was estimated at $9 billion by Forbes. It was all lost by the early 2000s.

Using a Trust to Support Beneficiaries with Behavioral Problems

Using a Trust to Support Beneficiaries with Behavioral Problems

Using a Trust to Support Beneficiaries with Behavioral Problems A combination of high stakes and amplified social pressure may be putting the next generation of wealthy families at increased risk. Children growing up in households in the highest income bracket face a higher risk of anxiety, eating disorders, drug abuse, depression, neuroses and self harming, according to researchers in the U.K.

Do Hong Kong’s Listed Family-Owned Enterprises Need to Bolster Governance?

Do Hong Kong’s Listed Family-Owned Enterprises Need to Bolster Governance?

A significant number of companies listed on Hong Kong’s stock exchange are owned and operated by families, some of whom face the challenge of bolstering corporate governance or risk losing the faith of a growing number of professional investors. These family-owned businesses are what investors ...

Avoiding the Pitfalls of Succession Planning

Avoiding the Pitfalls of Succession Planning

Besides growing and sustaining a business, the biggest challenge entrepreneurs face is succession planning. Making a decision on succession is as daunting as it is necessary. The complexity is compounded when the business is family owned and the successors are likely to be the next generation.

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