#family-offices

#family-offices

The next generation of leaders wants their family offices to look different from those run by their parents - and that shift is driving fierce competition for a new class of talent. A new report from IMD's Global Family Business Center and the Family Business Network, based on 186 survey responses and 65 interviews with family principals across six continents in the first two quarters of this year, found that family offices are rapidly evolving as younger heirs step into leadership roles.

Family offices in the US managed $3.1 trillion worth of assets last year, according to a Deloitte report. That's more than the market caps of Meta and Tesla, combined. But many family offices manage all of those assets using relatively basic software, such as Excel and QuickBooks, as well as borderline prehistoric technologies like fax machines.

According to Julius Baer's new Family Barometer 2025, produced in collaboration with PwC Switzerland, family offices - once seen as quiet administrative centers - have become command hubs for navigating a world of geopolitical tension, digital risk, and generational transition. Family offices are essentially private companies that manage all aspects of a wealthy family's finances - from investments and real estate to philanthropy, taxes, and even education - allowing them to control their money like a business.

Lynn Forester de Rothschild is preparing to sell her 20 per cent interest in The Economist, paving the way for the most significant change in the 182-year-old publication's ownership since 2015. The British-American financier, 71, has appointed investment bank Lazard to oversee the process, which remains at an early stage. The stake, made up of voting shares, could fetch as much as £400 million based on current valuations of the premium media group.