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Ownership and Management

November 20, 2014

Family-owned Banque Havilland has extended its international network to the Bahamas with the acquisition of 100% of the shares in Pasche Bank & Trust Limited in Nassau, Bahamas, the latest in a series of international deals.

Family-owned Banque Havilland has extended its international network to the Bahamas with the acquisition of 100% of the shares in Pasche Bank & Trust Limited in Nassau, Bahamas, the latest in a series of international deals.

The acquisition of the Bahamas business follows the purchase of a majority stake in Banque Pasche’s Liechtenstein private banking business on 6 October this year. In November 2013, Banque Havilland  bought Banque Pasche’s Monaco business.

November 19, 2014

The face of wealth in the UK is no longer dominated by ‘old' money after an increase in the number of entrepreneurs selling their companies has led to a spike in significant wealth generation, according to a new study.

The face of wealth in the UK is no longer dominated by ‘old' money after an increase in the number of entrepreneurs selling their companies has led to a spike in significant wealth generation, according to a new study.

November 18, 2014

Independent shareholders have voted overwhelmingly to abolish the dual class share structure of media empire News Corp at its recent annual meeting, but Murdoch family control means the company will stick with the status quo.

Independent shareholders have voted overwhelmingly to abolish the dual class share structure of media empire News Corp at its recent annual meeting, but Murdoch family control means the company will stick with the status quo.

The Murdoch family holds 40% of the voting rights in the publishing empire, despite owning just 12% of shares, allowing it to effectively control the company with a minority shareholding.

November 13, 2014

Australian family offices are investing in business, property and private equity, says the new head of Ernst & Young’s Oceania family office division.

Australian family offices are investing in business, property and private equity, says the new head of Ernst & Young’s Oceania family office division.

They are also hedging globally as part of a generational investment strategy, says Richard Boyce.

The Australian native says the region’s family office market is currently small, but well connected, and dominated by a few advisory firms, private banks and asset managers.

Boyce’s appointment to EY was announced this week.

November 10, 2014

A family office expert has warned that the proposed merger between multi family offices Stonehage and Fleming Family and Partners in pursuit of greater scale may not be the answer to profitability issues faced by the industry.

A family office expert has warned that the proposed merger between multi family offices Stonehage and Fleming Family and Partners in pursuit of greater scale may not be the answer to profitability issues faced by the industry.

Family-owned multi family office Fleming Family & Partners has agreed to the merger with Stonehage to create Stonehage Fleming Family and Partners (SF&P). The merger will see the Fleming Family Trust Company’s ownership stake reduced to less than a quarter of the new entity. 

November 6, 2014

The daughter of Inditex’s founders has declared a 5% ownership stake in the multi-billion dollar Spanish fashion company, best known for its retail chain Zara.

The daughter of Inditex’s founders has declared a 5% ownership stake in the multi-billion dollar Spanish fashion company, best known for its retail chain Zara.

Sandra Ortega owns the stake through holding vehicle Rosp Corunna, which she inherited following her mother’s death from a stroke last year.

November 4, 2014

Spanish family-owned banking group Santander has expressed an interest in acquiring Novo Banco, the Portuguese lender introduced to rescue assets from the failed Espirito Santo banking dynasty. 

Spanish family-owned banking group Santander has expressed an interest in acquiring Novo Banco, the Portuguese lender introduced to rescue assets from the failed Espirito Santo banking dynasty.

According to Bloomberg, Santander’s chief executive Javier Marin told local reporters that the family firm would consider acquiring Novo Banco once a forthcoming audit gave a clearer picture of its current standing.

October 24, 2014

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

The Italian company said Adil Mehboob-Khan, a former Procter & Gamble executive, would join the firm in January and become part of a new management structure comprised of three top executives.

October 17, 2014

Taittinger was a favourite tipple of Ian Fleming’s James Bond and became the first ever official champagne Fifa served to VIPs at the World Cup in Brazil. Despite its glamorous image, however, the French champagne house adheres to a set of humble family values.

Religion is never far from the surface at Champagne Taittinger. The Gothic spires of Reims’ Notre-Dame Cathedral are clearly visible only a mile from the office of Pierre-Emmanuel Taittinger, the president of the eponymously-named champagne house and figurehead for what he calls “the champagne mission”.

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