|
|
 |
|
Viewing report
|
|
|
|
How Russia's Entrepreneurs Deal with Succession and Wealth Management
Campden Publishing, May 2010
A new report released today by UBS and Campden Research reveals exclusive, in-depth insights into the views of Russia's leading entrepreneurs about the critical issues that they, their businesses and their families will face in the next five years.
The image of Russian entrepreneurs in the popular press may be of rapacious capitalists with a penchant for huge yachts and modern art, but the reality is somewhat more complex according to a new report by UBS/Campden Research, writes Marc Smith.
Russia's wealth creators: Facing the challenges of succession and wealth management, features the views and concerns of 25 entrepreneurs who all live in Russia or have their core business there. Eighty percent of respondents had a family wealth in excess of $500 million.
One of the key findings of the research was that Russian entrepreneurs are in jeopardy of seeing their fortunes eroded by the next generation unless they give serious though to succession and wealth transfer. This deep, historical aversion to legacy building was just one of the many exclusive discoveries revealed in the report.
'As the first study of its kind, initially we faced some scepticism from the entrepreneurs we approached,' explained Marco Naumann, co-author of the report. 'However, once we had explained the concept, I was pleasantly surprised by how openly the respondents discussed their business and personal wealth.'
The survey also revealed that less than half of respondents thought the Russian business environment encouraged innovation and entrepreneurship; despite this, nearly two thirds said they would involve family members in their businesses in some capacity moving forward.
The wealth expectations of Russia's entrepreneurs are more complex given that many are still busy building their wealth, which explains why there is a limited understanding of international financial markets and why over 70% were only vaguely familiar with or had never heard of the term family office.
'I hope this report will trigger debate amongst other Russian entrepreneurs about the complex issues inherent in transferring their wealth to the next generation and successfully managing wealth for the long term,' commented Dominic Samuelson co-author of the report and managing director of Campden Wealth.
Customers who bought this item also bought
Russia’s Wealth Creators 2011: Facing the Challenges of Succession and Wealth Management
Asia Pacific Family Office Survey 2012
Wealth Segments Russia: Smart Operators
Wealth Segments Russia: Friends of the State
Wealth Segments Russia: Capital Heirs
Targeting Key Ex-Soviet Bloc Clients in Wealth Management 2010
European Family Office Survey 2011
Consumer Finance in Russia: Capitalising on Opportunities for Growth
Wealth Management Competitor Tracker: Q4 2010
North America Family Wealth Study 2010
|
|
|
|
