The bond that binds successful families together

corporate

The bond that binds successful families together

While families change over the generations, there is one consistent that ensures that the success of the forefathers are continued by the generations that come after - the ability to adapt and develop.

This year marked the 222nd anniversary of Lombard Odier in Tokyo and the milestone was marked at the annual Asia gathering with a series of talks and discussions about how family business can succeed through the years. The answer is by never resting on your laurels.
 

Ceaseless innovation is the red thread shared by family businesses in Asia that enables them to grow over generations


“Ceaseless innovation is the red thread shared by family businesses in Asia that enables them to grow over generations," said Patrick Odier, our Senior Managing Partner, at the 'Rethink Generations' conference.

Lombard Odier prides itself as being the wealth manager for entrepreneurs and family business members over generations and we aim to accompany our clients on all aspects of their journey.

"As I mark 222 years, I am consumed professionally by two things: partnering with families and entrepreneurs to help them protect, grow and pass on their wealth and succession planning for Lombard Odier's next chapters, beyond my time," said Odier.

"Each family business concocts its own recipe in order to sustain itself over generations. For Lombard Odier, our recipe involved these ingredients from the outset. A resolve to remain structurally independent so we can act unwaveringly in the interest of our clients, not concentrating power in the hands of a single decision maker and strategic succession planning requiring me to retire when I want to!"

Specialists from our offices in Asia and family business members in Asia shared valuable insights throughout the conference this week. Lombard Odier Limited Partner and Asia Pacific CEO Vincent Magnenat facilitated a panel on next generation family business members from Japan and south east Asia, aimed at sharing experiences of retaining values and the early hunger of their forefathers as firms are passed down through the generations.

Amongst the speakers was Juthasree Kuvinichkul, the CEO Metta Group, Grab (Thailand),  who said that fresh horizons should always be pursued, even if it meant internal change in the business. “Give the next generation the chance to explore new things, even if it means restructuring the family business to embrace disruptions," she said.
 

Give the next generation the chance to explore new things, even if it means restructuring the family business to embrace disruptions


This sentiment was echoed by Prof Roger King, an expert in family business. “Today's owners of Asian family businesses need to open up, embrace technological disruptions and rethink their businesses," he said.

Meanwhile Lombard Odier's Carolina Minio-Paluello said that we now see one of the great opportunities before us. “The sustainability revolution is the largest investment opportunity in history," she said.
 

The sustainability revolution is the largest investment opportunity in history                                                                              


The theme of passing businesses through the generations resonates particularly well within Lombard Odier. Today, we are partly run by sixth and seventh generations of the founding families thanks to the ability to adhere to a “Rethink Everything" philosophy through the ages.

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This document is issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This document was not prepared by the Financial Research Department of Lombard Odier.

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