Citi Private Bank Legacy Insights

ISSUE 2 | AUGUST 2020

Legacy Insights is a newsletter of Citi Private Bank developed in partnership with Cambridge Institute for Family Enterprise. It explores topics and issues related to family business succession and strategies to build successful, sustainable legacies that bind families together for generations to come.

In an era of rapid globalization and disruptive technologies, including global pandemics, predicting what our personal and business lives will be like in the future is a fool’s game. Innovation is the mantra of most business leaders but few can convey its manifestations. It’s incredibly difficult to distinguish between innovations which are short-term fads from those which are long-term industry disruptions.

So how should family enterprises prepare themselves for the challenges and opportunities that innovation beholds? What strategies are needed for companies to be in a high a state of readiness for a future abound with disruptive forces?

In this issue of Legacy Insights, we delve into these ideas with four new articles about inculcating an innovation mindset across the family and it’s enterprises, and in the investment strategies for the business as well as the family wealth.

Family enterprises must prepare themselves for the challenges and opportunities that innovation beholds or risk disruption.

Where to Invest Next

Thinking systematically about how to diversify and redirect investment capital is essential to sustaining multigenerational wealth. Learn a three-step process to guide your family in making new business investments.

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Habits of Disruption-Ready Families

To deal with the rising vulnerabilities of this turbulent environment, business families must prepare not only their business, but their family for disruption. These five habits below offer a blueprint for families to intelligently and proactively get ready.

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Families Today Must Think Like Owners

Having an owner’s mindset in today’s disruptive environment means excelling at making four types of owner-level decisions. All four are central to the long-term success of the family and its enterprise.

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Harness The Power of Innovation in your Portfolio

Across the world, a select group of companies are reshaping industries that had often seen little change for generations. The implications of innovation for the global economy and for investment portfolios could be far-reaching. How well is your portfolio positioned for innovation?

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Family Business Owners and Boards Must Act Now in the Wake of the Coronavirus Crisis

The Owners and Boards of family companies must act—alongside CEOs and management teams—to steer their family businesses in the wake of the Covid-19 pandemic. There is a place for all three parties to problem-solve, and no one group has all the answers.

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