Systematic succession planning for key management is as essential as the recruitment for specialist positions including investment management functions, finance, as well as in the world of today: legal and compliance. Family Offices are here competing with the global players of the financial industry and this in terms of career paths as well as incentives/compensation packages.
Although family offices have become global players as international investors with critical functions being covered internally, it is essential for family office staff to be able to interact with important outsourcing partners as the family offices of today are often a construct of hybrid structures including internal and external infrastructures and platforms.
Single Family Office
As diverse as the families/owners who stand behind a family office as diverse are also their respective structures including key management and other personnel, and this in terms of numbers as well as background/experiences.
Recruitment represents not only a challenge in regard to trust and confidentiality, but also and especially, in regard to attracting and retaining best-in-class talent; and this not only in global financial centres such as London, New York and Hong Kong, but also in more remote locations relevant to the family/owner as a result of private residency or business origin.