Managing Family Legacy
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In the ever-evolving landscape of global wealth management, family offices have emerged as powerful entities uniquely tailored to serve affluent families seeking to preserve and grow their legacies. Amidst this dynamic landscape, Hong Kong is firmly establishing itself as a thriving hub showcasing a plethora of trends that are shaping the industry, and attracting wealthy families from around the world to explore investment opportunities here.
As such, in this edition we delve into the captivating world of “Managing Family Legacy”. By bringing together a diverse range of voices from a myriad of sectors both within Hong Kong and beyond, we want to shed light on the intricacies of family businesses, family offices, finance, education and research.
As we explore this theme, we invite you to immerse yourself in seven illuminating interview stories on the subject. We start off by hearing from Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR Government, on his views regarding the latest trends and Government initiatives that are supporting the growth of family offices in the city. Then we hear from Dr. Vincent Lo, Chairman of the Shui On Group who talks about the importance of setting guidelines for future generations. Next, David Lee, Owners Council Chair and Director of the Lee Kum Kee Group, discusses the importance of carving out your own unique path for successful transitions; while Maximilian Ma, Chairman of Lee Heng Diamond Group, talks about what it means for family businesses to find their own “true north”.
Looking to other cities like Singapore, we learn from Foo Mee Har, CEO of the Wealth Management Institute, on her thoughts on the family office landscape in Singapore. Finally, banking legend Kathryn Shih and Professor Denise Kenyon-Rouvinez offer their thoughts on how to shape a better future for family offices.
As home to the Roger King Center for Asian Family Business and Family Office, we are certainly proud to showcase some of our latest research work and thoughts from our School’s dedicated research arm. Within these pages are insightful faculty articles contributed by Professor Winnie Peng and Professor Roger King, both esteemed for their research into the subject area. They will bring to the fore their expertise and research insights which will shed light on the intricacies of managing family legacies in a dynamic region.
This is a timely topic, as Hong Kong has just launched the Hong Kong Academy for Wealth Legacy under the Hong Kong Financial Services Council. We hope that through this sharing, we can offer a host of diverse voices to provide invaluable insights into the unique challenges and strategies employed by families in managing their legacies. While at the same time, we want to spark thought-provoking discussions, inspire new ideas and foster a deeper appreciation for the complexities and rewards of preserving family legacies.
Professor TAM Kar Yan
Dean
