Succession planning

Case study by Kestrel

 

We enjoyed a very long and close relationship with the patriarch who had been a founding client of the Kestrel group. Over the years a close bond formed between him and directors of the group who acted as trustees of the family’s holding trust and as directors of various holding companies.

As trustees it was crucial for us to help the patriarch secure a succession and were acutely aware that he would not always be around to act as the bridge between the trustees and his children and other members of his family.

 

How we’ve helped

With our active encouragement and support, the children and some of their spouses were guided into roles for which they were each best suited within and outside the family’s principal businesses.
This enabled each of them to not only contribute to the success of the businesses but also importantly to their individual fulfilment.

Regular family councils and transparent reporting enabled all stakeholders to feel involved and valued. The patriarch’s natural tendency to keep matters close to his chest had to be managed and attitudes needed to be encouraged to change in order to promote inclusiveness and crucially, family harmony.

 

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