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Asian Wealth Solutions Forum 2019 - Exclusive Insights - Lee Wong

Lee Wong of Lombard Odier

Nov 13, 2019

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1. What role should robust family and family business governance play, and why?

Video transcript

1. What role should robust family and family business governance play, and why?

Every family is comprised of many individuals, and every individual would have their own respective perspective of things and assumptions of how things are being played out within a family. Without a robust family governance framework, it will be impossible to make good decisions together; there may be conflicts and perception of unfairness in a family. Family governance is important to ensure that there is harmony within the family and a common alignment of value systems, mission and vision for the family to walk the same path in the direction ahead. As for family business governance, when you have a family business, the dynamics of a family and a business are different. Having a governance framework to manage that process in itself allows a family business to be run in a more optimal fashion.

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