The Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, in collaboration with Julius Baer, a leading wealth manager, hosted its inaugural Family Business Community Retreat. The event brought together over 100 of the world’s distinguished family business leaders and industry experts.
The two-day Retreat was organised to explore the latest trends and shifting priorities in global family businesses, emphasising shared responsibility and a sense of duty. The event commenced with an evening networking gathering attended by HE Chairperson of Qatar Museums Sheikha Al Mayassa bint Hamad Al-Thani, the guest of honour and keynote speaker.
The following day featured a Forum comprising interactive dialogues and in-depth discussions to facilitate the exchange of insights, stimulate meaningful debates, and drive action on critical issues pertaining to family business management. Key topics addressed included wealth management and preservation, succession planning, governance, adapting family businesses to digital transformation, leveraging technology and AI, and philanthropy.
Overall, the Retreat provided a secure and conducive environment for discussing effective wealth management practices in successful family businesses, as well as proven strategies for executing succession plans, optimising stakeholder relationships, and leaving a legacy that extends beyond commercial and profit-driven agendas.
Emphasising the vital role of family businesses in ensuring economic stability, Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC, said, “Family businesses play a critical role in the stability of economies, contributing largely to GDP and employing a great percentage of a market’s workforce. Considering their indispensable role in economic development, the QFC is keen on creating opportunities for family businesses from Qatar and around the world, allowing them to diversify their activities across various sectors within the Qatari market and beyond.” Slim Bouker, CEO Julius Baer (QFC) LLC, commented on the event, stating, “Family businesses are the foundation on which the GCC is built, and Julius Baer is very pleased to partner with the QFC to highlight key opportunities and challenges faced by families in today’s day and age. Julius Baer as a wealth manager has its origins as a family business. This provides us with a unique insight into the topic and we strive to support families in navigating their multi-generational wealth journeys with the belief that ‘how we invest today is how we live tomorrow.'” Sheikha Alanoud bint Hamad Al-Thani, Deputy CEO & Chief Business Officer, QFC, highlighting the significance of the event, said, “Family businesses continue to drive economic growth and development in the Middle East and North Africa and have been a cornerstone of the QFC’s community in the past decade. We are proud to officially launch our Family Business Community as a valuable resource and a trusted space for over 100 family business leaders and their next generation to address common challenges and exchange best practices on building resilience among leading families. At the QFC, we are committed to supporting their growth and success.” The QFC offers a range of business structures tailored to the specific needs of family enterprises. These structures include Limited Liability Companies (LLCs), Holding Companies, Special Purpose Companies (SPCs), Foundations, and Trusts. They provide crucial support, such as limited liability protection, a centralised ownership framework, customised asset management solutions, and efficient risk management. Additionally, QFC’s business-friendly regulatory framework ensures streamlined processes and competitive tax incentives, making it an attractive ecosystem for family enterprises. (QNA)
Source: Qatar News Agency