Family Office

Latest News for Family Office

• September 3, 2010 - FOX President Leaves
  

  John Benevides, president of Family Office Exchange, has left for a new post after being in his current role for more than five years, this publication has learned, in what has already been a busy week of news at FOX. It couldn’t be immediately determined what firm he has joined.

• September 2, 2010 - Family Office Exchange Hires COO For Digital Initiative
  

  Family Office Exchange has hired a chief operating officer to oversee daily operations and guide deployment of advanced digital systems that deliver FOX’s knowledge to members in new ways, as FOX continues its development on a number of fronts. Thomas Reilly joins Fox from Omnium where he was director of training and development.

• September 2, 2010 - Citi Private Bank Names New EMEA CEO, Forges Global Family Office Group
  

  Citi Private Bank has appointed Luigi Pigorini as its new chief executive for EMEA, while simultaneously announcing the creation of a new Global Family Office Group, according to an internal memo seen by WealthBriefing. Pigorini, currently global head of investment finance, rejoined Citi Private Bank in 2009 after having served as regional manager for Italy, Spain and Portugal earlier in his career.

• September 1, 2010 - Legacy Trust Rebrands As MFO
  

  Legacy Trust Company has rebranded as Legacy Trust Family Wealth Offices. The move by the Ponte Vedra Beach, Florida-based boutique is to better align with its business focus and stake its claim on the multi-family office services corner of the wealth management industry.

• August 20, 2010 - Advisors, Families Overlook Critical Aspect Of Legacy Planning
  

  Many wealth advisors inadvertently short-change their obligations to the families they serve, glossing over a key component of wealth transfer—legacy planning, according to a new book authored by two psychologists.   Numerous affluent families, meanwhile, admit to less concern about who gets what than being troubled by how future generations will manage the money.

Latest Features for Family Office

• May 18, 2010 - Smaller Single Family Offices Struggling - Study
  

  Single family offices, especially those with less than $100 million in assets, may be at an “inflection point,” according to Robert Casey, senior managing director for research at The Family Wealth Alliance, and author of the association’s second annual Single-Family Office Study. “The smaller ones are having trouble,” Casey told Family Wealth Report, “they’re facing increased costs, challenges with investments and human capital and they will be forced to register as investment advisors under the financial reform bill. All these factors have forced them t.

• June 23, 2009 - At Long Last, Spain's Multi-Family Office Market Shows Real Promise
  

  There have been recent moves in the market for multi-family offices in Spain, as firms seek to exploit the wealthy families’ perceived appetite for advice to help them avoid problems faced by their investments during the financial turbulence. There has been a flurry of corporate moves and recruitment drives by some firms as it appears the market in Spain is now ripe for a push by multi-family offices. Against this background, one of the most striking developments has been the merger of MdF Family Partners and Achievers Family Office, both based in Madrid.

• July 10, 2008 - Multi-Family Offices Can Go Global
  

  Multi-family offices are typically discreet financial players but there is no insuperable barrier preventing them from becoming large institutions operating across national borders, executives in the sector say. Still a relatively small part of the financial landscape in the UK, Europe and the US, multi-family offices have plenty of room to expand as the ranks of the world’s super-rich increase, notwithstanding current economic woes, managers at these companies recently told WealthBriefing. “Nobody has really gone for the global route but I don’t see why you should not,” .

• April 18, 2008 - Multi-Family Office Sand Aire Bullish Despite Economic Chill
  

  Family values can be a vague political cliché but the benefits of of running families’ wealth in a bespoke financial operation is a matter of unsentimental fact. So argues Sand Aire, a UK-based multi-family office set up 12 years ago to manage money for the UK-based Scott family, now managing the financial affairs and investments of 15 families. Sand Aire, which oversees a total of $2 billion of clients’ assets, sits in that relatively rarefied sector in the UK that is occupied by multi-family peers such as .

• March 10, 2008 - Single Family Offices Look to Alternatives
  

  Merrill Lynch and Campden’s recent European Single Family Office Survey 2008, Preserving Family Values predicts a decisive shift by single family offices towards more assets being allocated to alternatives. The report found family offices are already using alternative investments extensively and are expected to switch their asset allocation even further in favour of alternatives over the next three years from 48 per cent on average today to 55 per cent. The wide-reaching and increasing use of alternatives amongst family offices is no surprise to wealth innovations strategy think tank, .