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Europe’s ultra-high-net-network valuable families are moving quickly to get their work before the transfer of great wealth, but the biggest problem to hand over luck is an invisible lack of employees to make salary cuts to manage billions.
One report Global Private Banking and Camp Wealth by HSBC conducts 101 offices in the state of European family offices and 101 offices. It was the main concern of those families to provide strong returns and how to walk the generative AI.
The biggest obstacle is to find people suitable for managing their fortune.
More than the third (36%) of the rich respondents in the survey is a limited pool of existing talents, which existed with appropriate skills to manage their property, he said. It is under third (32%), they said they are fighting to find leaders with appropriate personality skills.
Development of a family office can be a profitable concert. The study, the best paid peos in the family departments in the family departments are $ 500,000 (476,000 euros), although the average $ 288,000 (274,600 euros). Although attractive, the figures are not compared to another level similar to other investment work. Executive search firm Heidrick & Fight ruminate Medium salary for CEOs supporting special capital 447 thousand dollars (426,000 euros).
Meanwhile, the lowest paid family office CEOS only wins $ 120,000 (114,000 euros).
Billionaires are looking out of the family
Families with more deeply deeper, more deeply and more than one billion, 88% bonuses pay an average of $ 370,000 ($ 353,000,000) in the salary.
The main figure represents less than 0.037% of these families. For family members, this figure is lower for the cheeses of less than $ 500 million.
A proposal to attract talent is stated in a report, family offices become extra incentives to get the best talent on the board. Most of them offer a selection of performance bonus with a minority earnings capabilities or share of earnings.
Family departments have historically used the authority to hire attractive leaders together with smaller structures. They are usually in the single digits of employees, each employee allows you to have a particular effect. They also tended to attract the heirs to carry their inheritance.
However, there is a fear that these factors are the same boot for family members, as it is once. Meanwhile, younger generations are becoming more and more interested in protecting their parents and in their own.
One family of one family said: “I think there will be a lack of people to manage family missions. Born family members in the 1960s have retired for 15 years or 20 years.
“Many next tribes will be made to the family office and the recruitment of employees will be filled. The family will be compelled to bring more professional employees from financial institutions and their culture will change.”
The CEO of a family office, the larger investment firms think that the compatibility and regulatory authors are transferred to the establishment of a smaller family office of more investment managers.
The attractiveness of hiring a family without a family is to manage a family office, the baby boomers grow as they hand over their companies and luck to the next generation. It can save the battle of each other between the generations that attract many sisters and even the same founder and even the same founder.
CEO of a British family office: “Among the children of the three siblings between our next graves, there are seven cousins. All or some will be able to work on family work or family members.
Editor’s note: This article appeared on Fortune.com on December 5, 2024 for the first time in Fortune.com.
This story was first displayed Fortune.com
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