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Mediobanca Postpones Investor Meeting on Banca Generali Bid

Mediobanca Postpones Investor Meeting on Banca Generali Bid

Bloomberg8 hours ago

Mediobanca's board agreed to postpone an ordinary general meeting called to approve its takeover offer for Banca Generali to Sept. 25 from June 16, according to a statement Sunday.
Certain investors who are shareholders of both Mediobanca and Assicurazioni Generali have highlighted a need to understand Generali's assessment and stance on Mediobanca's proposal before they feel able to vote on it, not least because Assicurazioni Generali acceptance is essential for the deal to be completed, the company said.

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Operational Excellence Is No Longer Optional For Family Offices
Operational Excellence Is No Longer Optional For Family Offices

Forbes

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  • Forbes

Operational Excellence Is No Longer Optional For Family Offices

Pets might not have made it to become our trusted office assistants, but the agentic era will bring ... More new opportunities that will require us to relook operations. Each year, a growing number of industry reports compete for relevance by claiming to offer insight into the inner workings of family offices. This surge is understandable. The family office sector is rapidly growing but remains opaque, highly fragmented, and often misunderstood, and this makes credible data both rare and valuable. However, many of these reports fall short, both in their content and the sources for insights. Many reports rely on anecdotal evidence or small sample sizes that do little to move the conversation forward and create more noise than anything useful. Amongst all of this noise, a few sources stand out for their consistency and methodological rigour. Campden Wealth, one of the few independent research firms focused solely on the sector, has earned a reputation for producing some of the most trusted data in the space. Its long-running studies are complemented by proprietary surveys from other family office insight firms and global banks like Morgan Stanley, UBS, and Citi, which draw insights directly from their family office clients. Campden's latest collaboration with ALTi Tiedemann Global, the Family Office Operational Excellence Report 2025, continues this tradition. The new edition offers a detailed and wide-angled view of how family offices are evolving—not only in how they manage wealth, but in how they structure operations, approach talent, and define long-term purpose. When read alongside UBS's Global Family Office Report 2025 and Morgan Stanley's Future-Ready Family Office white paper, a unifying theme emerges. Operational excellence is no longer a background process. It has moved to the centre of strategy, becoming the foundation for long-term resilience and the defining feature of a future-ready family office. Across all three reports, one trend stands out. Family offices are shifting from a purely administrative or wealth-preserving role toward something far more intentional. According to Campden Wealth, areas such as governance, next-generation engagement, and family education have risen significantly in priority. Yet these are also the areas where family offices report the lowest satisfaction, suggesting a clear aspiration-performance gap. This theme is echoed in Morgan Stanley's report, which identifies the presence of a family mission statement as the single most important predictor of long-term success across generations. Family offices that help articulate and institutionalize a shared 'why' — and embed it into governance, communication, and investment strategy — are more likely to survive generational transitions with unity and clarity intact. These shifts mark a broader redefinition of the family office mandate. Offices are evolving from focusing on wealth protection to stewarding family legacy. This transition requires not only new services and capabilities but also new ways of thinking, business models and service delivery. The traditional family office model, heavily internal, staff-driven, and built for permanence, is being replaced by more agile hybrid structures. Campden's data shows that outsourcing has become mainstream, not just for compliance or IT, but for education, succession planning, and governance architecture. Morgan Stanley offers a practical lens on this shift. It encourages offices to regularly assess which capabilities are truly core, those that must remain in-house, and which are best delivered through trusted partnerships. Offices that intentionally design this delivery model around family needs, rather than legacy roles, are proving more resilient and scalable. What is emerging is a layered model of operations. Service partners, whether consultants, technology providers, or multi-disciplinary advisors, are playing a larger role in coordinating these layers. This helps ensure that the service delivery aligns with both strategic goals and operational demands. Despite the evolution of operating models and other structural changes, one often cited challenge seems to remain for family offices: talent acquisition and retention. According to Campden, recruiting and retaining the right people remains a top concern for many offices. 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Without a clear architecture of governance, data, and accountability, even the most sophisticated tools underdeliver. But with those foundations in place, even modest automation can yield disproportionate returns. A significant shift across recent reports highlights how families are increasingly aligning their investments with their core values. There seems to definitely be an interest in values-aligned strategies, with the rising generation taking the lead on this trend. This is something that has been discussed a lot, but more in the context of sustainability. The reality is that values alignment is about more than sustainability and requires greater coherence between capital allocation and family identity. This evolution affects more than just the traditional notion of social responsibility. It starts with an investor or owner, defining their values and how these relate to the various spheres in their world - community, people, planet and beyond (for some). Investment strategies can now reflect these family values, serving as a tangible expression of their impact and role in the world. Offices that can help align these values with actual investment decisions are becoming essential strategic partners. In practical terms, this means embedding purpose into every aspect of the investment process—from deal sourcing and due diligence to structuring and impact measurement. It calls for new frameworks that extend beyond traditional returns to also consider legacy, risk tolerance, and community involvement. Taken together, the insights from Campden, UBS, and Morgan Stanley point to a deeper redefinition of operational excellence. No longer a static checklist of compliance or efficiency, excellence is becoming a dynamic capability — the ability to adapt, align, and deliver under changing conditions. True operational maturity means having a clear mission that informs every decision. It means building an office structure that is flexible, collaborative, and designed for longevity. It requires talent strategies that are forward-looking, not reactive. It means embedding technology that works with, not against, strategic clarity. And perhaps most critically, it involves anchoring financial decisions in a sense of purpose that transcends generations. The era of quiet competence in the back office is giving way to something more ambitious. Families are demanding more. Complexity is rising. And the expectations placed on family offices, both from within and beyond the family, are growing faster than ever. Operational excellence is no longer optional. It is the platform on which everything else depends.

Renault boss De Meo leaves, company says, after report he will lead Kering
Renault boss De Meo leaves, company says, after report he will lead Kering

Yahoo

timean hour ago

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Renault boss De Meo leaves, company says, after report he will lead Kering

PARIS (Reuters) -Renault chief executive Luca De Meo is leaving the carmaker, the company said on Sunday, shortly after paper Le Figaro reported he was set to take over the lead at struggling luxury group Kering. "Luca de Meo has expressed his decision to step down in order to take on new challenges outside the automotive sector," the company said in a statement. Kering declined to comment. A person familiar with the thinking of Kering Chairman and CEO Francois-Henri Pinault told Reuters he was actively working on his succession, which includes splitting up the two roles to hire a new chief executive. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Announcement regarding the governance of Renault Group
Announcement regarding the governance of Renault Group

Yahoo

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Announcement regarding the governance of Renault Group

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