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family office

October 3, 2014

Many family offices do not deliver adequate lifestyle and governance support, despite these areas becoming increasingly important to the families they serve, an industry professional says.

Many family offices do not deliver adequate lifestyle and governance support, despite these areas becoming increasingly important to the families they serve, an industry professional says.

Catherine Grum, head of a new private office division at merchant bank and operational risk business Salamanca Group, says instead many family offices are focussed almost exclusively on investment management.

September 12, 2014

The cyber world may seem intangible, but security breaches can have a very real impact on your family's money, reputation and even safety. CampdenFB looks at how and why family offices should take data security seriously

In May, Target chief executive Gregg Steinhafel stepped down after 35 years at the chain, following revelations a data breach had affected 70 million customers – one of the largest consumer data breaches ever. It came just one year after the National Security Agency (NSA), one of the most secretive government bodies in the US, was embarrassed by third-party contractor Edward Snowden, who released information to the media about their surveillance of non-consenting individuals. Data security breaches, big and small, are on the increase, and are making headlines.

September 9, 2014

The family office behind Swedish banking dynasty, the Wallenbergs, has given their stamp of approval on a recent deal by publicly-listed Electrolux, in which they are the largest shareholder, to buy General Electric’s US appliance business for $3.3 billion (€2.5 billion).

The family office behind Swedish banking dynasty, the Wallenbergs, has given their stamp of approval on a recent deal by publicly-listed Electrolux, in which they are the largest shareholder, to buy General Electric’s US appliance business for $3.3 billion (€2.5 billion).

In a statement, the Wallenberg family office, Investor, which holds 15.5% of the capital and 30% of voting shares in Electrolux, said it fully supports the transaction and is looking forward to seeing the brand increase its foothold in North America.

September 8, 2014

The family office of Indian entrepreneur Azim Premji, who founded IT firm Wipro, has participated in a $106 million pre-IPO placement in Silicon Valley-based start up DataStax, which helps companies manage large volumes of data. 

The family office of Indian entrepreneur Azim Premji, who founded IT firm Wipro, has participated in a $106 million pre-IPO placement in Silicon Valley-based start up DataStax, which helps companies manage large volumes of data.

According to a statement, PremjiInvest, which manages a $1.6 billion (€1.23 billion) portfolio, will provide a large but undisclosed sum towards the project, led by venture capital firm Kleiner, Perkins, Caufield and Byers.  

August 19, 2014

Thomas Conheeney, the long-serving president of Steven A Cohen’s hedge fund SAC Capital, which pleaded guilty to insider trading last year, has stepped down from the organisation, less than a year after it converted to a family office. 

Thomas Conheeney, the long-serving president of Steven A Cohen’s hedge fund SAC Capital, which pleaded guilty to insider trading last year, has stepped down from the organisation, less than a year after it converted to a family office.

Conheeney, 50, will be replaced by Douglas Haynes, 48, a former director at consultancy firm McKinsey & Co, but will remain on in an advisory role until the end of the year.

July 10, 2014

The head of strategic planning at technology-company Infosys, Ganapathy Subramanian, will reportedly step down after a nearly a decade and take on a managerial role at the chief executive’s family office. 

The head of strategic planning at technology-company Infosys, Ganapathy Subramanian, will reportedly step down after a nearly a decade and take on a managerial role at the chief executive’s family office.

According to an article from Business Standard, Subramanian will join Infosys’ cofounder S D Shibulal – set to retire in August – at his family office Innovations Investment Management India in Bangalore in the near future.

July 3, 2014

By their very nature single family offices are unique. So how do you go about establishing a bespoke structure for your family when there is no one else to compare yourself to?

Families face a dizzying array of concerns and choices when deciding the details of how to structure their family offices. When families look at the multi family office model, the services, fees and the funds on offer can be easily compared like-for-like. But single family offices (SFOs) are a bespoke bundle. They can be totally unique in their goals and how they are structured to achieve these goals. So how should families ensure they have the best set-up for their SFO?

April 18, 2014

A social media platform for wealthy families has targeted the same demographic that uses its service to raise €1.2 million to fund its growing advisory division and establish a new arm that will offer advice on social impact investing.

A social media platform for wealthy families has targeted the same demographic that uses its service to raise €1.2 million to fund its growing advisory division and establish a new arm that will offer advice on social impact investing.

Launched in 2008, several years after Facebook was founded and Twitter was taking off, TrustedFamily aims to aid multi-generational families spread across jurisdictions to keep in contact and liaise about professional, financial and personal matters.

April 11, 2014

A Manhattan Federal Court has approved SAC Capital’s $1.2 billion (€867 million) settlement for insider trading.

A Manhattan Federal Court has approved SAC Capital’s $1.2 billion (€867 million) settlement for insider trading.

As part of the settlement, SAC Capital is required to pay the $1.2 billion financial penalty on top of the $616 million it had already agreed to pay to the US Securities & Exchange Commission.

US prosecutors announced in November last year that SAC Capital had agreed to plead guilty to insider trading charges, although its founder Steven Cohen was not charged with any crime.

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