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TST, Kowllon Hong Kong

Managing Director

Finance / Banking / Insurance

The goal of Family Legacy Asia is to help families in Asia preserve their Human, Intellectual, Social and Financial Capital across the generations. But this is not an easy task. Only one in three family controlled businesses successfully pass into the second generation and only about 12% last to the third generation. In Chinese there is a saying that wealth only lasts for three generations. While the above statistics are well known, it would still be the exception rather than the norm to see a family in Asia with a written succession plan, a family shareholders agreement or a formal “Family Council”.