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The increasing complexity of family offices

By Citi Private Bank,

March 9, 2018Posted InFamily Office, Wealth Advisory and Citi

Bill Woodson, Head of Family Office Group – North America, and Edward Marshall, Director of the Family Office Group at Citi Private Bank, have explained in an interview with Family Capital how family offices have evolved to become increasingly complex over the past 20 years.

Woodson and Marshall discussed how the number of family offices had grown substantially and these family offices have very quickly expanded their remits to take on more roles and responsibilities, including in niche areas such as cyber and personal security, and philanthropy.

But according to Woodson and Marshall, complexity doesn’t necessarily equal sophistication for family offices.

The article follows the publication of Woodson and Marshall’s white paper: Organizational design, strategic leadership, and governance insights for family offices, a blueprint for family office executives to help them navigate the dynamics that exist within every wealthy family.

To read the full article click here.

 

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