Latest news with #RafflesFamilyOffice
Straits Times
4 days ago
- Business
- Straits Times
Headstart On Record Podcast: How to prepare to inherit a family business
Gaining exposure, cultural conflictions and intergenerational discussions are all part of the road to inheriting a family business. ST GRAPHICS: NATASHA LIEW Headstart On Record Podcast How to prepare to inherit a family business Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times. Family businesses have been in the spotlight, after the CDL saga that saw father and son in a tussle for control over one of Singapore's largest companies. But whether it is about inheriting family businesses or family wealth, the process is not a straightforward one. Banks and financial organisations prepare young people to take over family wealth, through programmes and even boot camps. So how does wealth planning work, and how do youths take over their family businesses? In this episode, ST business correspondent Sue-Ann Tan looks at what wealthy kids do to prepare to inherit wealth and companies. Her guests are Darren Hui, who will one day lead his family's property management business, and former national athlete Kendrick Lee who co-founded Raffles Family Office. Highlights (click/tap above): 5:35 What is family legacy planning and governance? 7:30 The challenges the next generation faces 9:00 Generational differences between father and son 10:49 What difficulties has the family office seen in dealing with multiple generations? 18:02 When did you first realise you were going to inherit the business? 21:00 Will Kendrick let his children take over the business? 22:36 Going from national athlete to family office Read Sue-Ann Tan's articles: Follow Sue-Ann Tan on LinkedIn: Host: Sue-Ann Tan (suetan@ Produced & edited by: Amirul Karim Executive producers: Ernest Luis, Lynda Hong & Joanna Seow Follow Headstart On Record Podcast channel here: Channel: Apple Podcasts: Spotify: Feedback to: podcast@ Get business/career tips in ST's Headstart newsletter: --- Follow more podcast channels: All-in-one ST Podcasts channel: ST Podcast website: ST Podcasts YouTube: --- Get The Straits Times' app, which has a dedicated podcast player section: The App Store: Google Play: Check out the Headstart chatbot for answers to your questions on careers and work trends.
South China Morning Post
13-05-2025
- Business
- South China Morning Post
Multifamily offices could yield bigger benefits for Hong Kong, industry executive says
Hong Kong should strive to become a hub for multifamily offices to enhance its economy and global standing in a volatile market, as these entities wield greater influence than single-family offices, according to the group CEO of Raffles Family Office. Multifamily offices can enhance Hong Kong's 'economic landscape, contributing to greater gross domestic product, job creation and a positive global image for the city', said Kwan Chi-man. Such offices serve multiple ultra-high-net-worth families and typically need a licence as they operate as commercial ventures. 'For the wealth management industry to advance, multifamily offices are undoubtedly a key growth engine,' said Kwan, who is also the chairman of the Family Office Association Hong Kong. 'Hong Kong should look to diversify its focus beyond single-family offices.' These 'institutional-grade entities' would contribute to the city's financial ecosystem, he added. Raffles Family Office group CEO Kwan Chi-man at the company's new office in Central. Photo: Jonathan Wong The Hong Kong government has taken several steps over the past three years to become a family office hub, with the number of single-family offices reaching 2,700 thanks to tax incentives and immigration policies. Meanwhile, there were only 'a couple of hundred' multifamily offices in Hong Kong, according to a March report by the Centre for Family Business at the Chinese University of Hong Kong.
