Significant differences can be found in the way Asia's newly wealthy view the usefulness of a family office from their peers in the West, but finding harmony is the key to success.
“At FFI, scholarly research and generated knowledge is publically disseminated through rigorous peer-reviewed research articles published in Family Business Review (1988), and usable findings published in the FFI Practitioner including
the FBR Précis. Interest in family business research is now global and multi-disciplinary, but this was not always the case.
In this week’s blog post, I discuss the role of the family bank, and four keys to successful implementation of this entity.
In January 1982, former United States Secretary of the Treasury William Simon and a group of investors acquired Gibson Greetings, a producer of greeting cards, for $80 million, of which only $1 million was rumored to have been contributed by the investors. By mid-1983, just sixteen months after the original deal, Gibson completed a $290 million IPO and Simon made approximately $66 million (a 66x return on their original investment). The success of the Gibson Greetings investment attracted the attention of the wider media to the nascent boom in leveraged buyouts and heralded the age of private equity as an asset class.