What is a family office, explained by HSBC exec Carly Doshi - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Family offices are gaining visibility, but remain tricky to define. Here's how an HSBC private bank exec explains the term to ultra-rich clients.

space isn't well understood, particularly for a segment that's grown in visibility in recent years.

The number of single-family offices has risen by 38% globally over the past two years, according to aciting data tracked by advisory group Campden Wealth. Campden's research director, Rebecca Gooch, estimated there are 7,300 single-family offices globally, with 42% housed in North America and 32% in Europe. Those firms oversaw some $5.9 trillion as of July.

Having wealth siphoned off to pay to sort out intergenerational squabbles is a danger for wealthy families in general, she said. "It's the litigation risk, where they end up fighting to the death," she said. If the structure of a family office — whether that includes a tiny staff or a sprawling set of professionals including a chief investment officer, a president, and other experts — isn't quite right, Doshi said, she helps families figure out how to fix that and how to define "what a family office is, and what a family office isn't."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Family and HSBC in the same sentence? Doesn't work. Oh, crime family. Maybe so

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Payments Ecosystem Report from Business Insider - Business Insider[NEW REPORT] The Payments Ecosystem: BIIntelligence examines the industry's ecosystem today, highlights three trends changing payments, and forecasts growth through the next five years
Source: BusinessInsider - 🏆 729. / 51 Read more »

Argentinian PFM fintech Ualá raises $150 million - Business Insider - Business InsiderArgentinian personal finance management fintech Ualá has raised $150 million led by Tencent and Softbank's Latin America-focused Innovation Fund: A OP
Source: BusinessInsider - 🏆 729. / 51 Read more »