Sustaining family business through the generations

    Sustaining family business through the generations

    Changes in society can sometimes feel like they are happening at a lightning pace. Focus can shift from one industry to the next while debate around events in our world is constantly evolving. But as many features of our everyday life develop, how can we maintain and carry on the success of our forefathers?

    This year sees the celebration of 222 years of Lombard Odier in Tokyo, a remarkable milestone and one which has prompted us to examine both the past and the future. At this year's annual Asia gathering, in Japan, entitled 'Rethink Generations', we will be examining how family business interests can be maintained for decades despite the changes that are going on around them.

    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. Patrick Odier, Senior Managing Partner of the Lombard Odier Group, says there are few better places in the world to discuss the ingredients for success in family business than Japan.

    "What works in one culture does not necessarily work for another, as we all know, and yet there are aspects to sustaining family businesses which unite us. We share common threads: a reliance on values to create the foundations of our success, a need to plan succession and the requirement -- more than ever today -- to innovate in the face of disruptive forces," he says.

    "At Lombard Odier, we act according to the values set by my ancestors, we work to transmit to the next generation and we strive to rethink and innovate to secure our future.”

    This year we will host an edition of our annual 'Next Generation' forum in Tokyo, where specialists from our offices in Asia and family business members connected to our partner banks in Asia will share valuable insights on the subject at hand.

    Shintaro Okuno, Partner at Bain & Company and head of its Tokyo Office, will share his insights on how founder-led businesses can learn to leverage the initial ingredients of success, and pitfalls to avoid, as such firms expand and enter the next stage of their development.

    Lombard Odier Limited Partner and Asia Pacific CEO Vincent Magnenat will facilitate a panel of next generation family business members from Japan and south east Asia, which is aimed at sharing experiences of retaining values and the early hunger of their forefathers as firms are passed down through the generations.

    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. We have grown stronger through 40 financial crises, not by standing still and waiting for them to pass, but by re-evaluating and rethinking the world around us.

    “After seven generations and 222 years, Lombard Odier is big enough to matter but nimble enough to adapt, allowing it to lead in the face of rapid social and economic change," said Vincent Magnenat.

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