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Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Organizational-Leadership-Strategic-and-governance-insights-for-family-offices

Perspectives

Strategic and governance insights for family offices

Author

By Edward Marshall, Director of the Global Family Office Group

January 31, 2018Posted InFamily Office

Citi Private Bank today released a white paper to help family offices overcome the distinct challenges of managing substantial wealth by sharing best practices, benchmarks, and insight on organizational design, strategic leadership, and governance.

 

The family office industry has grown tremendously over the past twenty years as the number of ultra-high net worth families and the complexity of their needs has increased dramatically.  The rise in the number of family offices has also led to an increase in the breadth and sophistication of professionals who are interested in working for these institutions, particularly at the senior leadership level.  As a result, family offices are professionalizing at a faster rate than before. 

 

One will often hear the claim that: “If you have seen one family office, you have seen one family office.” While it is true that every family is different, the challenges facing all substantially wealthy families are broadly similar and therefore require similar solutions.  It is also true that the challenges that come with substantial wealth are oftentimes predictable and, as a result, many of the solutions to those challenges can be identified in advance.

 

In this white paper, Bill Woodson, Managing Director and Head of the North America Family Office Group, and Edward Marshall, Director of the Global Family Office Group, have outlined a number of solutions increasingly being used by many established family offices.  Bill and Edward presents and discusses some of the professional practices they are seeing adopted by established family offices to provide senior family office executives and their principals with benchmarks in three key areas:

  • Organizational design and key service areas of family offices as they pertain to the family office management company;
  • Senior leadership positions, with a focus on job responsibilities, skills required, success metrics and experience needed; and
  • Strategic, managerial and governance insights that help navigate the unique dynamics that exist within every wealth family.

We hope this provides senior family office executives a useful blueprint to help them navigate the dynamics that exist within every wealthy family.

The full publication can be accessed here.