Family Office Insider (FOI) | October 2024
Family Office Insider (FOI) | October 2024
News, Research, Publications, Events, Jobs Board | Family Office Industry Newsletter
Hello, and welcome to the 10th edition of 2024 of Family Office Insider (FOI) from GPFO. In the Industry Newsletter each month we share the latest news and developments from the family office ecosystem.
Sections:
📊 Chart of the Month
📑 Research & Reports
News: 📰 Headlines, 💼 Careers Moves, 🤝 Private Markets Activity
👥 Jobs Board
📅 Events
Announcement: We released our Family Office Private Markets Benchmark Report 2024
📊 Chart of the Month
Powered by GPFO Research
One of the key areas of research in the GPFO Family Office Private Markets Benchmark Report 2024 is around Co-Investment. This is a theme that has emerged as a key strategy for family offices seeking enhanced returns and greater control over their portfolios. But anecdotally we have heard a division over definitions of co-investment, for the first time we collected data on this to validate. We found significant diversity in what family offices considered ‘co-investment’, as shown in the chart above.
📑 Research & Reports.
The latest reports, research and whitepapers on family offices, global wealth and select interest areas. Powered by the GPFO Research & Reports Database.
Research | Family Office Private Markets Benchmark Report 2024, GPFO
Research | Global Family Office 2024 Survey Insights, Citi
Report | Defining the Family Office Landscape 2024, Deloitte
Report | Family Office Insights Series - Asia Pacific Edition, Deloitte & Raffles
Report | The Centi-Millionaire Report 2024, Henley & Partners
Report | Asia–Pacific’s family office boom: Opportunity knocks, McKinsey
Research | North America Family Office Report 2024, Campden & RBC
Report | The State of AI, ICONIQ Capital
News.
📰 Headlines
UBP to acquire Soc Gen’s private banking operations in the UK & Switzerland. Press Release
BNP Paribas signs deal to buy HSBC private banking unit in Germany. Reuters
Interested in perspectives on the future of private banking?
Citigroup sells trust services business to JTC. Reuters
UK’s ultra-rich break cover to attack Labour’s Non-Dom plans. Bloomberg Law
‘A huge mistake’: Angermayer slams UK wealth tax plan after exit. Bloomberg
🏕️ Family Offices
Santo Somingos family office unveils more US fund bets. Bloomberg
Alibaba’s Joes Tsai joins consortium buying french vineyards. The Business Times
Hedge fund boss, Alan Howard considers leaving London for Geneva. Hedgeweek
Aliko Dangote sets up family office in Dubai. Family Wealth Report
Wealth advisor software maps, 2028 = 133 companies, 2024 = 485 companies. LinkedIn
More family offices are hiring CIO-led investment teams. Institutional Investor
Family feud and a fatal recall: meet the owners behind Boar’s Head. Forbes
✨ Impact & Philanthropy
Thinking and acting global: Key considerations for wealthy families. Citi
💼 Career Moves
All change as Northern Trust announces leadership changes
Peter B. Cherecwich becomes COO.
Teresa Parker delays retirement to become President of Asset Servicing.
Steven L. Fradkin becomes Vice Chairman.
Jason Tyler becomes President of Wealth Management.
David W. Fox Jr. becomes CFO.
Elliott Kaye joins Lance East office from Spitfire Family Office.
Skye Young joins Parere Advisory from Cercano Management.
Christina Economou leaves Trident Trust for single family office.
🤝 Private Markets
Allocations to private markets now commonplace for private banks. PWM
Analysis of Y Combinators latest S24 batch, a bellwether for seed investing. Post from
Venture Capitalists turn to novel methods to return cash. The Information
Can venture capital keep itself afloat? Wall Street Journal
WealthTech startup Cashmere raises $3.6m to enhance wealth management client acquisition.
The full list of 35 US AI startups that have raised $100m or more in 2024. TechCrunch
Distress investing: crime scene investigation. CFA Institute
Hadley family office hits market with fund of search funds. LPAllocator
👥 Jobs Board.
Full Jobs Board accessible via the industry or members portals. Currently 35 actively recruiting roles within single family offices. 10 new roles listed this month, 19 closed to new applications.
Head of Family Office - Single Family Office - Iowa, USA
Chief Financial Officer - Single Family Office - New York, USA
Chief of Staff - Single Family Office - New York, USA
Head of Private Equity - Single Family Office - Dubai, UAE
Investment Associate - Single Family Office - Dublin, Ireland
Investment Reporting Specialist - Single Family Office - Luxembourg
Senior Legal Counsel - Single Family Office - Hong Kong
Finance Director - Single Family Office - London, UK
📅 Events.
9th October - Private Briefing | VC in Mainland China - In-Person
7th November - GPFO European Conference - In-Person & Virtual
21st November - Michaelmas Investment Club - In-Person & Virtual
5th December - Christmas Drinks - In-Person